Tips from great collectors for millennials
We have adapted some Rubell tips to the needs of the current art market
BY ANDREA ROMANÍ
Getting the fever of collecting is not difficult. Some of the most important collections of contemporary art today belong to personalities that began in the world with a budget as low as $ 25. Don and Mera Rubell are, today, one of the most important couples of 'mega-collectors' of modern art and on several occasions they wanted to share their experience to help art lovers take their first steps in collecting .
Obviously, the artistic landscape has changed a lot since the Rubells started collecting in the 60s, that's why we wanted to adapt some of their tips to the needs of the millennial era.
1. Prioritize your money and don't be afraid to ask for financing
According to a USTrust report, in 2019 8% of millennials invested in art, and within this number, 93% claimed to prefer online shopping. But let's keep something in mind: unfortunately, new generations have less economic resources than previous generations. That forces them to prioritize their money very well, to learn to do without certain things to be able to invest in what really interests them, but at the same time it also forces them to lose their fear of asking for financing and payment methods in installments. Mera Rubell herself says that no collector always has the money she would need to be able to afford everything she wanted, but the key is to learn to compromise and use reason and never buy what is above your means.
But what will happen when the baby boomers, which are still the main investors in art today, stop buying? Well, many companies have already started presenting alternatives, offering, for example, art selections of pieces from $ 100. Yes, you can afford to buy quality art at affordable prices.
2. Relationship with your local gallery owners
The gallery owners continue to take the lead in the art of detecting new talents. Ask your questions, get to know and raise your intentions. Your local galleries will help you discover local talents and grow your collection with a more defined purpose. Currently, social networks facilitate this process even more, since one can keep up to date with all the news with just one click.
3. Read more and keep up
The art world is in constant motion and, especially with regard to contemporary art, there is always something new to learn. Subscriptions to magazines, and visits to libraries (such as the one that owns American marriage in the Rubell Museum) will become an important part of the shopping routine, as they will keep you up to date with what is happening in the art market. But they are not the only option. The new generations of buyers like to feel part of the art, they want to be actively involved and that is why many of the great museums (such as the Guggengeim or MoMA) already have courses and programs aimed at these new audiences so eager for knowledge.