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Cultivating a Private Collector

© Cecilia H. Lee

As artists, we may have dreams about having our own retrospect at MoMA or to see our work at the Guggenheim. Sure, it's OK to dream, but to make a living as an artist, we also have to be practical. Only a handful of artists sell their work to a leading museum. Most of us make our living by selling to collectors.

When we think of art collectors, we think of the Rockefellers, the Gettys, the Kennedys of the world, but we may be reaching too far. Some of our best collectors and patrons can be the middle class buyer who lives a couple of blocks away.

Many people like to buy art, not just as a sign of prestige, but also as an investment. That means they want to acquire works that they like, but which also have inherent future value.

Most middle class collectors can't afford the Warhols and Rauschenbergs, so they want to make investments in "emerging" artists. This means, they want to buy works from reputable dealers and collect works from established artists.

Acquiring collectors who may be interested in your work takes some time and work. You must build your reputation as an artist in order for galleries to recommend you to collectors. In a way, art collectors aren't just buying pieces of art, they are buying into the artist himself or herself.

A good dealer will help you get more patrons interested in your work, but don't expect your gallery to do all the work for you. Especially, if you're just starting out, you have to do the legwork yourself. This means going to social engagements and events where you will come in contact with people who buy art. This can be anywhere from an art opening to a cocktail party.

Once you've started acquiring private collectors for your work, you have to maintain the relationship in order for them to want to buy more. Keep an address book of people who have bought even one of your work. Periodically give them a call inviting them to an opening, or tell them about the latest piece your working on. Do it with some tact and charm.

After you have a list of collectors, it's OK to drop some names here and there. For instance, in a brochure for your next exhibit, you can list the names of your "private collectors." Collectors will often pay attention to what other collectors are buying. A well-known collector can not only be great for what they buy, but what they lead others to buy.

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