The art market is notoriously convoluted and opaque. Large sums of money change hands behind closed doors, artworks enter collections before being seen publicly, often disappearing from view altogether as they enter the cultural purgatory of freeport storage. Staggering auction results can be both exciting and intimidating, implying a right and wrong way to collect art. There is no comprehensive public database to self-educate, and galleries are reluctant to offer works to newcomers. In many ways, these issues are fundamental to the exclusivity the industry thrives on. However, in recent years, there has been a push for a more accessible art market, and new tools, groups and methods of buying are helping collectors to navigate the murky waters and changing the way people acquire art today.

Art advisers

While not new, art advisers still offer the fastest entryway into the industry with access to prices and insight into the market and art history. ‘I’m looking at thousands of artworks, spending time with artists to understand their aspirations, and deciding with my clients what is best for their goals, not just for the year ahead, but for ten years ahead,’ says Amanda Schmitt, an adviser who has worked in the art world for nearly two decades. ‘Relationships are everything. When I walk into a gallery, I know the person I’m speaking with is trustworthy, and they know I am, too.’

Fairs and galleries

Fairs and galleries are a few of the traditional venues where collectors can buy art, but the methods are expanding. Online platforms like Artsy offer easy ways to collect art from vetted dealers, and some artists are connecting with buyers through social media. ‘Commissions have also become increasingly common in recent years,’ says Schmitt. ‘There is a movement to rethink what art can be, and some clients are becoming more interested in supporting an idea.’

A new take on ownership