You' probably made your decisions to purchase your artworks because you loved them. Still, you are aware that they are an investment and you want to protect and even increase that investment if possible.
Whether you are looking to sell a painting later on or to keep your collection as a family legacy, there are steps you can take now that will serve you well for your existing collection. I've also included some suggestions for you for your future purchases. If you're interested, I've created a template for you to get started.
1. Do you have a Certificate of Title or Authenticity for your works? If so, scan a copy and securing the original in a safe place. (A Certificate of Certificate of Title is from the artist to you. A Certificate of Authenticity or Provenance is from a gallery or other agent indicating the documented details of the history of ownership of the painting).
2. Document any information you have about the artist. Print or save relevant pages from websites, reviews etc.
3. Arrange evaluations with appraisers and conservators. (See next item)
4. Speak with your insurance agent about appropriate coverage. (There may be certain pieces in your collection you wish explicitly cover)
5. Create an itemized record of your art collection. (You will need to put your hands on that in the unfortunate event of theft). I've included a downloadbale inventory template here.
By documenting the history of your artwork, you help preserve its worth. Going forward, with each purchase of new artwork:
If buying from an artist: Ask the artist for a signed and dated Certificate of Title which includes the details of the painting. You can also ask them to sign the back of the canvas to you.
If buying from a gallery: Ask for a Certificate of Authenticity or provenance to outline the documented history of the owners of the painting.
I hope you’ve found these tips to protect your collection and to see it grow in value for you and your beneficiaries helpful. Art is both love and science.
Please feel free to share this link with your collector friends.
If you'd like my free Art Register template to get started click here.
As always, you can find my new available artwork and home and apparel products based on my paintings and designs on Pinterest. Just click the Pinterest icon below.
If you enjoy reading you might be curious about these two books. They add volumes to one's knowledge of understanding and collecting art.
FYI, if you order through either of these links I may receive a small commission at no additional cost to you.