The Jean-Michel Basquiat painting that sold for $110.5 million at Sotheby’s. Image courtesy of Sotheby’s
Our ongoing series Apartment Living 101 is aimed at helping New Yorkers navigate the challenges of creating a happy home in the big city. This week we have tips on how to start an art collection for both fun and future profit.
In May 2017, Jean-Michel Basquiat’s 1982 painting of a skull sold for a mind-numbing $110.5 million at Sotheby’s, becoming the sixth most expensive work in history to sell at auction. In fact, Sotheby’s is known to record billions of dollars in art sales annually fed by wealthy art enthusiasts clamoring to hang the most rarefied of works.
But for us plebeians who find the thought of buying fine art alluring but lack the finances needed to bid on a Pollock or a Picasso, what options are available to us?
Ahead, Krista Scenna, an independent curator, gallerist and co-owner of Brooklyn’s Ground Floor Gallery, gives 6sqft the low-down on how regular folks can begin to build a museum-worthy art collection on a budget. Addressing everything from how to vet emerging artists for value to the top three questions you need to ask yourself before you even begin your hunt to simply why you should invest in art in the first place, if you’re new to the world of buying art, this guide is for you!