A recent essay on collecting art gives some interesting insights.

It focuses on the secrets of successful collecting, advocating a research-based approach. Penned by Nirmalya Kumar, professor of marketing and co-director, the Aditya Birla India Centre at LBS (London Business School), it calls for clarity on one’s objective or intent of collecting.

India on the global art market is still new phenomenon. A majority of Indian art buyers have probably been in the domain for not more than a decade or so. Obviously they are in the process of learning about art and collecting. In this context, a key advice is to concentrate on a chosen few artists vis-à-vis diversifying your portfolio. The expert notes:

“A collector is driven by passion than anything else. With Jamini Roy, quintessentially the Indian modern artist, I view myself as a custodian more than the owner of his works. The artist’s absorption of tradition and its subsequent transformation into the modern get demonstrated in the ‘widow’.

“The lines demonstrate the mastery of brush, the sophistication, and above all his genius and magic. Painted probably in the 1940s, it has what every art collector covets: rarity, quality, and content. The work is part of the country’s heritage, and the market value of the works is rather irrelevant.”

Another important aspect in collecting art is whether to ‘limit’ yourself so that your portfolio can become worthwhile. Elaborating on the aspect, the essay mentions:

“Unrelated paintings by different artists would be interesting, but not really unique. To make it meaningful, the collection must be more than the sum of its parts. Its uniqueness is decided by the quality of the core concept. Thus, collecting is more about imagination and vision than wealth.”

Based on his experience, a valuable piece of advice offered to aspiring collectors is: “If you want to buy art as an investment, do diversify the portfolio.”