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A beginner's guide to collecting art
Whether you’re drawn to masters or emerging artists, curator, advisor, and private art dealer Farah Siddiqui Khan has some advice for young collectors on how to curate an art collection with confidence
Building an art collection can seem like an overwhelming pursuit, especially for those just starting out. However, with the right guidance, it can become an enriching journey. Farah Siddiqui Khan, a curator, advisor, and private art dealer with over two decades of experience in Modern and Contemporary South Asian art, offers invaluable guidance to aspiring collectors. In 2004, she founded FSCA Art Advisory, through which she has built and managed some of the most significant collections of Indian art globally. Additionally, her initiative, Cultivate Art Global, is dedicated to supporting emerging artists and connecting them with the next generation of collectors. Drawing from her extensive experience, Khan provides practical advice to help young and new collectors begin their art collections.
Beautiful Homes: How can one start building an art collection?
Farah Siddiqui Khan: My first recommendation while building an art collection is to research and educate yourself. There are a lot of publications and materials available both offline and online, which can help you understand your vision and figure out artworks that you like and resonate with. Seek expert guidance and advice, be a part of the artistic community, attend exhibitions and art fairs and be aware of the fact that there is a fake market out there. You should be very thorough with your provenance, authenticity and other costs that come with collecting art, such as framing, storage or taxes. These are things you should educate yourself with before you take the plunge.
BH: What's a good budget to start?
FSK: I would recommend keeping a budget between Rs. 50,000 to 5 lakhs for emerging artists. That way you can get in-depth knowledge about the artist and grow with the artist. You must look at international artists too and start with a budget from 5 to 10,000 dollars to begin with.
BH: Is it necessary to build a thematic art collection? How can one go about it?
FSK: To build any art collection you need to have a clear vision of why you are building it. It's good to have a theme or general overview of your collection. It can be based on gender, region or nationality. But when you are an art collector, art should have no boundaries, and that's why the art field is so different from finance or any other political parameters. According to me, themes are important to help you collect, but if you are an art lover, I think you would appreciate all kinds of arts, mediums and subjects.
BH: What are the mistakes that young/new art collectors make? What is your advice?
FSK: The mistakes I feel that young collectors make is that they don't educate themselves of the hidden costs that come with collecting art, because art is an expensive commodity or passion. Many things go with it, whether it’s good framing, storage, transportation or taxes, all of which are integral parts of collecting art. Start small because that will help you grow, don't get carried away, don't get pushed into a corner and don't let friendly investment advisors help you with your art. If you want guidance, then seek professional art advisory, which will help you better than a finance person. Collect with your eyes and your heart. Don't get so perturbed with whether a piece of art will go up in price in a few years. If you love what you buy, you will always enjoy it.
All images by Prachi Damle
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