The Four Stages of Collecting – Part I: Before You Buy Art

This first session in our four-part series will discuss the best way to embark on your journey as a collector.

Before you start buying art, it's important to think about your goals and what you're trying to achieve with your collection. Do you want to focus on a specific artist or period? Are you looking for investment pieces, or are you more interested in finding pieces that you connect with emotionally? Once you have a good sense of your focus, you can start doing some research.

There are a lot of great resources available online, but there's nothing like seeing art in person. If possible, try to visit galleries and museums to get a feel for the work that's out there. And when you're ready to start making purchases, be sure to work with a qualified advisor who can help you find the right pieces for your collection. Buying art can be a big financial and personal commitment, so it's important to take your time and make sure you're comfortable with every decision you make.

Megan Fox Kelly Shares Her Expertise on Buying Art

Megan Fox Kelly, of Megan Fox Kelly Art Advisory, discusses how, before you buy art, to create a meaningful collection based on your personal needs, interests and resources. And we’ll explain the finer details of the acquisition process and how you can benefit from services of an experienced advisor even before you make that first purchase.

Participants will learn:

• How to define your unique collection strategy before you buy art
• About the tools available to new and experienced collectors
• When and how to work with a qualified advisor
• The financial and personal commitment involved in buying art

The rest of the series can be enjoyed online, at your convenience:

Part II
Taxes and Legal Obligations: This session will cover purchasing process, applicable taxes and "hidden costs", freeport storage, resale issues and capital gains taxes, Visual Artist Rights Act and copyright issues.

Part III
Managing your collection: An expert will discuss conservation, documentation, condition reports and photography, databases, installation, storage and other logistics.

September – Part IV
Collecting for the Next Generation: Attendees will learn about long-term care, stewardship and succession planning, art donations to non-profit, and supporting your local arts community as part of your overall collection strategy.

Target audience: Art collectors of all levels.

Access 100's of art collecting videos on One Art Nation!

Speakers

Megan Fox Kelly

Megan Fox Kelly builds and manages collections for an international mix of individuals, museums, estates and foundations.  Her full service advisory business provides curatorial and market advice and museum-quality fine art services for collectors, attorneys, financial advisors and estates.
Her academic training includes an MA in the History of Art from Brown University.  Megan’s...

Meet the Expert