Where do you start your contemporary art collection? How do you choose works and artists? Where should I buy? Do I belong at auction? Here we try to answer these questions (and perhaps a few more besides), while offering an overview of what it means to be a collector today.

But first, a bit of semantics: what is a work of art?
A work of art is a profoundly human concept that changes with the passing of time, and offering a universal definition is a complex undertaking. Emile Zola embarked on this exercise in 1866 when he wrote: "My definition would be, if I formulated it: A work of art is a corner of creation seen through the eyes of a temperament".

Based on this definition, a work of art can be described as the product of man's creative individuality, transcribed into physical form using a variety of techniques. Influenced by the experience, tastes and society surrounding the artist, it exists only for itself and has no value other than that which is subjectively attributed to it.

Having said that, and taking a slightly more concrete view, art has also established itself as a safe investment, which, despite crises and social-political changes, remains a sure bet. Buying contemporary art is a strategic choice, and one that requires collectors to already possess a few notions of taste as well as an attraction for the art world, qualities that obviously sharpen with time and experience. The good news is that it's an investment accessible to all budgets and tastes, and one that can quickly become as exciting as it is profitable !

Now that the foundations have been laid, the big question is: what should I buy, and why?
To start a collection, I always advise buying what you like, while diversifying, and alternating between buying from galleries and buying from auction houses. I say what you like because I think you have to think in terms of the long term. There are no rules in collecting, even though many people like to keep a guideline, a theme, around which their purchases will revolve. You can also choose to start by collecting works on paper, or multiples, which are generally more affordable, and then move on to other techniques. Many of the collectors I talk to regularly change their tastes after a while and decide to sell the small pieces they started with to acquire larger works.

In my opinion, the first thing to look at is the quality of the work. Its technique, its year of creation, its provenance and its history of exhibitions and publications. You need to find out about the artist's career, whether he or she is represented by a gallery, and whether his or her works are in museums, institutions or collections. Finally, you need to look at the price and compare it with existing results, taking into account any changes in the artist's standing.

I think it's important for a contemporary art collection to diversify its purchases. This allows you to have works by artists who already have a good reputation in your collection, and who can represent a safer investment, while at the same time promoting the work of younger artists.

While it's important to know what you want to buy, it's even more important to dare to push open the doors. Young collectors, don't be afraid of auction houses! We'll explain.

Auction houses are essentially the second market. In my opinion, they are very well suited to the uninitiated because they are public and therefore accessible to everyone. All the information is given in the sale catalogue, along with the estimate range, which already gives the bidder an idea of the price. Even if, of course, the final hammer price may exceed this range!

In our November sale, for example, we had some very fine works by Georges Mathieu, Olivier Debré and Shirley Jaffe, which sold for between €50,000 and over €1.2 million before tax; a very fine figure was achieved by a small canvas by Pierre Soulages, the first to be sold after his death. We also had a fine collection that we sold as a 'capsule' in the catalogue, with estimates ranging from six hundred euros to four hundred thousand euros. Finally, I added a 'young collectors' section to my sales a year ago. It's an opportunity for new buyers to get started at a lower cost, and for us to present things that we like and that we want to promote.

It's important for auctions to change and diversify; for our audience to be as varied as the lots we offer. Both young and amateur, but also knowledgeable and experienced. What's more, since 2020, digital technology has played a major role in the auction market. This even greater accessibility has attracted many new buyers from all walks of life and of all ages, from 20 to 70!

Congratulations, you've made it through the door! Now what do you do, and who do you talk to?
My advice for familiarising yourself with auctions is to read the catalogues of past and future sales. You should be aware that auction results are public and can be consulted on the websites of the various auction houses. This is a very good basis for tracking the different quotations of artists, seeing how they change over time, and planning your own investments. And don't hesitate to go to the auction room, because that's where it's all about! The auction remains a show, a play that reinvents itself with each new performance, and it's an opportunity to meet other collectors and experts.

My advice when bidding on a work of contemporary art is to approach the specialist in charge of the sale and find out about the condition of the work (by asking for additional photographs or a condition report, for example), as well as the elements that were used to authenticate it. Don't hesitate to ask the specialist any questions you may have. That's what he's there for! His role is just as much to advise potential buyers as it is to advise future sellers.

Finally, how can you avoid the pitfalls that lie in wait for young collectors? What questions should you ask yourself before taking the plunge?
When bidding, you need to take into account the additional costs that are added to the hammer price. There are buyer's fees of around 30%ttc in a voluntary sale (and 14.4% in a judicial sale), transport costs, customs duties if the work is being temporarily imported, the droit de suite (resale rights) depending on the auction house, etc., which are borne by the buyer and the seller. The auction house is merely an intermediary between the various parties!

In France, collectors are very well protected when they buy at auction: the limitation period is 5 years from the discovery of the defect, with a 20-year time limit. Don't hesitate to find out about the legislation governing the purchase, possession and resale of artistic and cultural heritage.

I would also advise you to make a habit of going to see a work when it is on display before you sell it, if you can, and, if necessary, to systematically ask for a condition report to avoid unpleasant surprises. I'll say it again, but it's important to remember that we're here to guide buyers and sellers through the whole process, and we also offer free and confidential expert appraisals.

Next sale 
Thursday 14 September 2023
Aguttes Neuilly

For further information, please contact
Ophélie Guillerot
[+33 1 47 45 93 02](http://+33 1 47 45 93 02)
guillerot@aguttes.com