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October 23, 2007 10:39 am
On Wednesday, Club Monaco is hosting the first in a series of open-forum discussions on modern culture at its new Columbus Avenue store. On the agenda for this week: building a contemporary art collection. With that in mind, we checked in with featured speaker and gallerist Virgil de Voldère about what you need to know when you’re in the market for contemporary art (like Nicholas Touron’s “Circus,” above). His advice? Educate yourself—and be generous. For more information on Club Monaco’s Urban Series, see www.clubmonaco.com.
What advice would you give to a novice art collector?
You need to go out and see contemporary art in the flesh to experience what it’s about. As you become a collector, you should always go back to the permanent collections of important museums such as the Metropolitan, the Getty, the Louvre. You forge your taste by looking at art. Just like in love, you should follow your instinct.
What’s the minimum amount of money you need to buy contemporary art?
There is no minimum or maximum to buy the work of an artist of your generation. But the price of work by an artist who doesn’t yet have a significant career should hopefully not be more than $10,000.
How can you tell if an artist’s work is likely to appreciate?
In the short term, within the art world you might hear about which artist to follow. In the long term, a collector must look for the artist who transgresses his medium as well as the preoccupations of his time.
You were just in London for the Frieze. How would you characterize the contemporary art market at the moment?
Against all odds, the art market has been going strong since December 2003. Judging by the high prices at the auctions and the buzz at the fairs, there were no signs of change in London. In the upcoming season in Miami, I think we’ll see an even greater enthusiasm for the upcoming art market. Because the market is so strong, a lot of galleries have opened in the past few years and the art world has become friendlier.
Is New York as important an art center as it was? Where else should potential collectors look?
New York is the world capital for contemporary art because this is where the greatest number of artists, collectors, critics, and institutions are. Behind New York, other capitals are London, Paris, Berlin, Los Angeles, and Beijing, but without the same intensity.
What’s the next big trend in contemporary art?
If I knew, I wouldn’t tell you. The power is in the hands of young collectors. They should engage by supporting their favorite artists?not only by buying their work, but also by donating their collection and money to the institutions. An active collector will be the one defining the trends of tomorrow.
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