Major Concerns when Buying Artworks for Newbie

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Price Availability

Lack of easy accessibility to pricing among artworks is one of the most common challenges that collectors are dealing with whenever they buy new art. More than anything else, it has been discovered that public pricing was surprisingly 4x higher the rate of other kinds of contextual information similar to biographical information regarding the story behind the given piece or the artist themselves.

Collectors even mentioned that they feel discomfort when prospecting for artwork prices that they can’t couldn’t afford, no matter if it is an online or in-person transaction.

Those collectors who have the deepest pocket and most experience in art market were the ones who mostly mention the lack of price availability. This is basically contrary to the common concept in art industry that only the new breeds are being put off by lack of information.

Desire of Collectors in Reselling Artworks

Yet another struggle that art collectors are facing is being able to easily procure and sell large on an artwork. This challenge alone is spanning across the experience level of the collector and the budget bracket they have.

On the other hand, reselling works bought on the primary market stays to be taboo among collectors who wish to have access to premier inventories. Generally, secondary market liquidity is constricted to small subset of handful of artists.

It’s been found out that few collectors become motivated by the ability of artworks to shoot in value than being able to hold its value. Many collectors are actually saying that it is better to resell it as it’s driven by desire and give them confidence for buying art in the future.

Affordability of Artworks

Among new buyers, financial is always a major problem that is stopping them from buying an artwork. New collectors are actually more than twice to mention the option for financing and affordability than other buyers who have the same budget but have been collecting for years and years.