The Collector’s Guide for the Art Fair

For the casual art appreciator, art fairs fill a leisurely afternoon. They function like portable museums full of new art, names, and creative experiments. Collectors, on the other hand, experience Art Fairs differently. It is their chance to see inventory from galleries all over the world, all in one place. Art markets and fairs, in particular, are notoriously intimidating and confusing for newcomers. Here are a few of the tricks you will need to know if you’d like to get into the world of art collecting.

Art Fairs are vast and varied, like the art world itself. Each fair usually has its own category and average price point. This information is readily available so the collectors can prioritize fairs that fit their needs and desires. Someone who is looking for lower-priced objects may want to check out a budding fair like TOAF (The Other Art Fair), while a long-time collector with a large budget may be more interested in something like TEFAF Maastricht. Various cities worldwide hold an annual Affordable Art Fair, with top prices never reaching higher than $12,000. This event is particularly useful for aspiring collectors who want to try to collect art but either do not have significant funds or are too afraid to splurge.

Consider the Logistics

Though there is no limit to how many art fairs you can attend, it is best to do your research beforehand. This will save you wasted afternoons and money, especially if you plan on traveling for these events. Once you have researched and found the perfect fair, it is time to make travel arrangements. If you live near major art hubs like New York City, Los Angeles, or Chicago, the fairs often come to your doorstep. If not, it may take some traveling to see that perfect piece. Art fair websites typically show deals with local hotels, and if not, they offer suggestions for the best local stays. Apart from finding a suitable location close to the event, staying there will probably help you socialize and meet other collectors and gallerists who attend the fair.

Most art fairs have VIP card systems. VIP holders can usually enter and exit the fair at any time, free of charge. This often includes special events, like receptions and talks, and separate VIP rest areas. VIP cards are meant for serious collectors and other people in the art industry. If you already have a reputation as a collector, consider contacting the art fair and informing them that you plan to attend. If you have any prior relationship with a gallery at the show, you can ask them for a VIP pass as well. Just remain polite and do not be to pushy—excessive pressure can lead to the opposite result and ruin your relationship with art dealers.

Attend the Opening Night

Though significantly more costly than an average day at the fair (unless you get one of those VIP cards), opening receptions are important events for collectors. They are full of serious collectors and other important figures of the art industry. In most cases, the most prestigious works are sold either on the opening night or even before it, during special events for VIP clients. If you are looking for top works with less competition, opening night is a must. Even if you are not in the market for those works, receptions are a great time to network with other collectors and dealers.

Go More Than Once

Before purchasing something or leaving empty-handed, it might be useful to attend the fair several times. This will help you avoid impulsive, expensive purchases. The artwork you buy will be something you look at for a long time, so make sure you do not get tired of it after a few visits. This will also allow you to look at it with a fresh eye that may notice a previously overlooked issue. This may even help you get a better deal on the last day of the fair. However, all these tips do not apply to top pieces that sell immediately, even before the official opening.

Once you have found possible purchases, it is time to do more research. Check the past auction results to see how much other collectors pay for similar works or the same artist. Compare the price offered by the gallery you want to purchase from and determine its legitimacy. Though the galleries ultimately decide their own prices, it is important to have market knowledge to avoid overspending—especially if you are a beginner.

Talk to the Dealers

If you are in a gallery’s booth and find art worth collecting, introduce yourself. Gallerists and artists are there to talk about their collections and provide more information. This can be as simple as asking for a price list or more in-depth, like asking them about the historical significance of a piece. You should also ask them about their gallery to establish that the piece is coming from a reputable source.

Don’t Forget Your Business Card

Though you may expect to grab business cards from the galleries, bring a stack of your own cards as well. Often, conversations with sellers lead to great networking opportunities to swap cards. This will make it simpler for the gallery to contact you later. It will also put you on their radar for receiving catalogs and emails. The gallery can reach out to you with new acquisitions that you may find interesting or simply invite you to future events.

Negotiating Is Fine as Long as You Know the Rules

It is common practice to negotiate prices. After a gallery announces a price, you can very politely ask if this is their absolute best offer. Often, they will give you a slightly lower price. You can also just offer a price. Try about 10% less than the asking price and see how that is received. Still, be careful: proposing too low might insult the dealer. If you are trying to significantly lower the price, you need to have good reasons and behave professionally. Before negotiating, study the work’s condition and the current market values for similar works.

If a gallery gives you a firm price, accept it. Some galleries do not negotiate prices, or they may already have other interested clients. Be polite and accept that it is their business and, ultimately, their choice. Understanding boundaries is crucial if you want to build a vast collection and healthy connections. This also applies to the amount of the gallery’s time you spend on communication and acquisition. There is nothing wrong with asking questions, but try not to take up so much of their time that they miss other potential clients—especially if you are not entirely sure if you want to purchase from them.

Arrange the Shipping

In many cases, you can just take your newly acquired piece and leave. Still, it would be wiser to ask the gallery about shipping and taxes. Sometimes, shipping an artwork out of state can save you money on sales taxes or fair fees. If the gallery takes the work back to its space, it has a chance to reframe the piece and polish up the glass before shipping. Galleries often ship higher-priced works for free or at a low price, which can be worth it for the convenience alone.

Keep in Touch with the Gallery

If you are happy with your purchase and the procedure, continue the relationship with this gallery. Simply sending a thank you note after receiving the work would be a nice gesture. This will also let them know that you might return for another artwork. Do not hesitate to ask if you are searching for something particular—galleries have large networks of colleagues and potential sellers.

Returning clients usually have first choice on new pieces and often receive prior notice of new acquisitions. Some galleries even keep an eye on auction houses for whatever your collection is missing. Many beginner art collectors are afraid of being seen as amateurs and thus avoid asking galleries extra questions. Despite the number of snobs in the art world, galleries exist to assist you with your requests and make your collection journey easier. Keep that in mind!