Mark Cooper, size, mixed media, 20 x 24 inches, 2011, Courtesy the artist.
Ahhh how much to spend. The elephant in the room when it comes to buying art.
We really like to talk with people about why they buy art, what motivates them to buy art, what they like etc. When we ask the average person about what might be keeping them from buying more art for their homes, the typical answer is “not in the budget”. This answer comes from people all across the personal wealth spectrum, from those who clearly have a large amount of discretionary money to spend to those whose budget is considerably tighter.
The idea of setting a budget for buying art is often something of a foreign concept for most people. Many folks will express an interest in buying art, but after that are kind of stymied. We think that one of the main obstacles to pulling the trigger is a lack of comfort with how much you are actually willing to spend. And to be honest, the "correct" amount is whatever works for you.
If you have always wanted a real statement for the dining room wall – you could put aside a small amount yearly that works for you, and dedicate it to the purchase of a unique piece of art. Believe it or not, artists and dealers can be willing to work with you to hold a special piece for an initial deposit, or to accept payment on an installment basis.
Owning and living with art has many benefits. But that might be for another post.