THE COLLECTORS COLLECTIONS - DOCUMENTATION.

" The Playground"
           [tripych]
by Austin Niko Suarez
acrylic/inks/crayons on canvas
20ins x 35ins each panel

THE COLLECTORS COLLECTIONS - DOCUMENTATION.

For every new collector starting off there are many things to consider, not just the painting or sculpture you wish to purchase.

A lot of collections are built quite haphazardly, in the beginning they just buy what they love and after a time discover that they are building a collection that lacks definition and or direction and then to discover one of the biggest challenges to a good collection are these two aspects of collecting.

[a] the documentation of the collection.

[b] the future of the collection.

There are many other aspects to a good collection that we will cover in the weeks ahead, but first I want to cover these as I think they are quite important for the new collector to start doing rather than discovering twenty years down the track that it should have been done from the very start.

[A] DOCUMENTATION OF THE COLLECTION.

Not to be confused with the cataloging of the collection.

What makes a collection valuable, besides the wonderful work of art, is the precise records kept on the piece.

You must keep all receipts from the sale with the purchase price. A lot of people do not want to reveal how much they paid for a work of art but this clearly goes towards the providence of the piece.

Also try and get the Title Card from the gallery with the price on it and get the Gallery to date it and sign the card on the back.

Get the Certificate of Authenticity from the Gallery dated and signed.

If possible get a photo of the artist with the piece. If that is not possible get a photo of yourself and the Gallery owner or curator and then have it dated and signed on the back.

Research for catalogs, newspaper clippings or books to get more on the artist and especially the work of art. Any photos of the piece that you can find lends to the authenticity of the piece.

Every little piece of information you can find on the piece is important.

Why is this so important?

Two reasons.

[1] If you come to sell the piece in the future, you have water tight providence on the painting, from the original purchase price including all the information you have collected.

A lot of people are embarrassed to say they bought it at a certain price and then to sell it for a much higher price, but it is all part of the collecting process and the original purchase receipt and the title card, dated and signed all add to the value of the piece when it comes to the resale.

[2] To many collectors ignore getting as much information as possible on each piece they buy, when they buy and later if its genuineness is called into question? 

They do not have the documents to back up the piece and then have to pay a high price financially to a living family member of the artist to get it authenticated, when a little diligence at the original time of purchase would give a better and more reliable authenticity of the piece.

I know a collector who sits down with the artist and interviews him about the piece he purchases then gets it printed out and the artist to sign and date it. If the artist is passed away then he gets the Gallery owner or curator from where he purchased it to sit down and he interviews them about the piece to get all the information he can, then gets it printed out and gets them to sign and date it.

This may seem a lot of work to do, but when it comes to selling the piece in the future it becomes the golden lining around the work, it confirms it genuineness without question.

I cannot stress enough the importance of keeping every bit of memorabilia all signed and dated by the gallery and if possible the artist, receipts, title cards, descriptions and new clippings and anything else you can find about the artist and the work.

To much documentation is never enough.

[B] THE FUTURE OF MY COLLECTION....LEGACY.

Now I know nobody wants to talk about their own demise but collectors need to seriously consider the future of their collections no matter how old they are. We all know of people who have been struck down unexpectedly but of coarse that will not happen to us?

A wise collector is prepared, it is the same as having a will so that you have some say as to what happens with your collection.

It has happened many times that the collector has kept everything about their collecting secret even from the family and upon their demise the family have no idea of what the collection is worth, thus exposing them to unscrupulous opportunists. They leave no instructions on how to sell the collection or how to maintain it.

So many collections after the original collector has passed away are broken up and even destroyed as no one knows the value or lack of value that is before them.

I have listed out a few musts.

[1] First of all you must keep good records as I have said in the beginning of this post and up to date cataloging, which I will address in a future post.

[2] There must be instructions on how to dispose of the collection within your records and also the names of trusted art galleries, dealers or friends who can advise on the sale of the collection.

These names and addresses, phone numbers and emails must be updated each year.

[3] Also the prices of each piece in the collection should be adjusted each year according to gallery prices for similar work by the same artist or on auction results for the same artist. This will be a valuable guide for the disposal of the collection.

[4] Finally make sure that a trusted family member knows where all this information is kept so in that unfortunate event, the collection is still in knowledgeable hands and can be maintained or sold.

If there is no family member available or trusted friend then instruct your lawyers as to what you want.

I believe every collector has a responsibility to maintain their collections to the best of their ability. All this information gathering and documentation is so vital for a healthy growing collection and allows you to consider how to intelligently acquire new inquisitions or the disposal of work that no longer fits with the direction of the collection.

I do hope that this post has been of interest to you and helps you with your collection.

Good collecting always.

Mark E Shellshear.
Art Consultant.
mark@shellshearmedia.com

"HED KANDY"

Austin Niko Suarez

acrylic/ink on canvas

36ins x 48ins