Photo > Steven H. Lee. “Steven with Anselm Kiefer at the Seattle Art Museum.” 24 Jan 2020.

STEP 5: WHY DO PEOPLE COLLECT ART?

Sinsarenko notes that the act of collecting art is a passion shared by many people around the world. From museums to private collections, art can bring beauty and joy to any space.

EMOTIONAL CONNECTION FACTORS

Emotions are a key motivational factor behind why individuals collect art. People are often looking to be connected to the feelings they have when they see their chosen pieces, whether they are moved in admiration or contemplation. Joy comes from owning and displaying art can be uncompromising, often described as a feeling of serenity and comfort deeply rooted in appreciation.

LEARNING FACTORS

Sinsarenko noted that collecting art can be a great way to expand one’s understanding of the world. Each work has stories that represent different ideas, cultures, societies, world histories, and eras.

SOCIAL FACTORS

Sinsarenko also described how social motivations can also be a significant component of art collecting. Collecting art can be about connecting with people who share similar interests. Being a part of an art community can be uplifting and satisfying, and by attending gallery shows and events allow people to share in conversations and access expert advice that can provide deep personal connections with artists, their work, as well as with other collectors.

STATUS AND TASTE FACTORS

Sinsarenko also described how art collecting is a way of expressing one’s status and taste, that is different from say designer clothing or luxury cars. A unique collection can reflect on who a person is.

WEALTH ACCUMULATION FACTORS

Sinsarenko noted how choosing art as an investment can be a great way to accumulate and diversify wealth. It’s important to consider if a work will increase with value over time.

YOUR STORY FACTORS

Art collecting allows people to express who they are. Sinsarenko noted that by bringing together different works of art, investor collectors can create a visual story that reflects who they are, as well as their values.

Video > Contemporary Art Issue. “How to Collect Art 101: The Art of Collecting Art.” YouTube, 20 Nov 2022.

— END OF STEP 05 —

Photo > Udemy. “Certificate of Completion - 5 Steps into the Contemporary Art Scene.” 30 Sep 2023.

— END OF COURSE —

STEP 4: WHERE IS ART DISPLAYED & SOLD?

Sinsarenko noted how many people are passionate about art - but feel that it is expensive, and something that only the wealthy can appreciate and access. But today, art is becoming more accessible.

Institutions, Places, and Resources

Sinsarenko also described how museums, gallery shows, fairs, auctions, as well as collaborations between art, fashion, and technology have made art more accessible than ever before.

MUSEUMS

Museums create interesting exhibitions designed to draw people in, and often have free or discounted admission fees. Special membership programs are also available at many museums, and offer further discounts, as well as exclusive access to special events and behind the scene tours. Many create inviting spaces where people can gather before or after seeing an exhibition. Other spaces allow for artists, museum curators, art historians, and other stakeholders to give presentations, talks, and demonstrations.

Video > The Art Assignment. “How to Visit an Art Museum | The Art Assignment | PBS Digital Studios.” YouTube, 13 Jun 2014.

ART GALLERIES

Art Galleries allow people to view and engage with the newest artworks on the art market for free. Most galleries run their exhibitions from September through June. Many shows have an opening reception night which allows visitors to view the work in a lively atmosphere with a chance to meet the curators and artists involved in a show. Sinsarenko noted that often, artworks at public art galleries aren’t for sale, as they usually come from other galleries, museums, and private collections. But at private galleries, one can always inquire with gallery staff about works they may have for sale as different private commercial galleries will represent different contemporary artists.

Cities with a significant gallery scene include New York, Paris, London, and Los Angeles. Specifically, there are over 1,400 art galleries in New York. Other cities with rich art scenes include San Francisco, Miami, Berlin, Rome, Seoul, and Hong Kong.

Barenscott, Dorothy. “Focus on Fundamentals: How to Visit an Art Gallery.” Avant-Guardian Musings, 7 Feb 2018.

Video > Contemporary Art Issue. “Art Galleries Explained: Everything You Need To Know (Complete Webinar).” YouTube, 10 Apr 2022.

Sinsarenko explained that the Gagosian Gallery displays high value artworks by renowned artists with over a dozen locations around the world.

Some of the many artists that the Gagosian represents include: Richard Avedon, Georg Baselitz, Chris Burden, Nan Goldin, Damien Hirst, Anselm Kiefer, Sally Mann, Takashi Murakami, Nam June Paik, Jenny Saville, Richard Serra, Jeff Wall, and Francesca Woodman, among others.

Cotter, Holland. “At Gagosian, Art That Reverberates Beyond the Gallery Walls: In a show curated by the critic Antwaun Sargent, “Black art” and “social practice” are not just market-ready concepts.” New York Times, 5 Aug 2021.
Keefe, Patrick Radden. “How Larry Gagosian Reshaped the Art World: The dealer has been so successful selling art to masters of the universe that he has become one of them.” The New Yorker, 24 Jul 2023.

Video > Gagosian. “Jeff Wall: The Space of Photography | Gagosian Gallery.” YouTube, 9 Jan 2022.

ART FAIRS

Sinsarenko explained how attending art fairs can be an exciting way to experience a diversity of works offered by independent exhibitors as well as international galleries. They are large scale events that happen in cities around the world. It’s a great way to see a variety of artworks, and to meet exhibitors, gallery curators, and even artists - both emerging and renowned.

Sinsarenko noted that the two largest art fairs in the world are ART BASEL (in Basel; Switzerland; Miami; Hong Kong; and Paris) and FREEZE (in London; New York; Los Angeles; and Seoul). But there are also many smaller, local, art fairs in communities around the world (such as the Dallas Art Fair; Art Brussels; Vienna Contemporary; Art Dubai; and Sydney Contemporary).

Video > New York Magazine. “How to Navigate an Art Fair With Jerry Saltz.” YouTube, 15 May 2017.

AUCTIONS

Sinsarenko notes how auction houses have been around for centuries but today are an integral component of the contemporary art market. They provide access to some of the world’s most sought after artworks and also help to raise awareness of the contemporary art market.

Christie’s, Sotheby’s, and Phillips are the biggest auction houses with locations around the world including locations in New York, London, Paris, and Hong Kong. Everyone is welcome to attend free previews of works to be auction. To be a bidder, one needs to register for the sale with the auction house. Many auction houses also broadcast their auctions online, making participation easier than ever before.

Video > Moriah Alise | Dear Glory. “How Art Auctions Work | Art Market Explained.” YouTube, 9 Aug 2020.

ONLINE

Sinsarenko described how today, it’s easier than ever to explore the art-world through the power of online websites and social media platforms where one can learn about art and appreciate artworks from around the world.

Sinsarenko noted how MOMA (Museum of Modern Art) in New York holds over 200,000 works of modern and contemporary art, with more than 99,000 works on their official website. There, one can read articles, listen to audio recordings, and watch videos featuring artists, curators and other art-world figures discussing the collection and special exhibition.

Another site Sinsarenko discussed was TATE MODERN, a London based contemporary art museum offers a chance to learn about artists on its website. Tate’s YouTube channel regularly uploads new short films, interviews, and other content related to its collection and exhibits.

THE GAGOSIAN GALLERY’s website provides a comprehensive study of the contemporary artists represented by the gallery. It also features live streaming videos featuring original performances and discussion.

Sinsarenko also mentioned how ARTSY and ARTSPACE which caters specifically to fine art buyers who want an authentic experience from online dealers.

Finally, social media sites and other platforms like 500px, Deviant Art, Etsy, Facebook, Flickr, Instagram, LinkedIn, Threads, TikTok, and Twitter (X), make it easy to find talented artists who share their work on these platforms. Many artists also have their own websites which have links to their various social media accounts.

Video > Contemporary Art Issue. “Artist Career Paths: Art Galleries vs. Social Media (Unveiling the Truth).” YouTube, 13 Aug 2023.