Whether you have a passion for art or you’re interested in it as an investment, you could become an art collector. The first step is to educate yourself. You ned to know as much as possible about what you are buying and the investment strategy behind it. Practical experience is important as well, so get out there and gain experience.
Many art collectors focus on a specific era or style. It helps a lot to be genuinely interested in what you are buying so investing for ROI alone is not always a good idea. Find out what you like and analyze the financial aspects.
The area of fine art comprises drawings, sculptures, watercolors, architecture and more. Moreover, in recent years photography and even digital art have become viable assets.
An important step toward formulating a strategy is to avoid buying randomly. Always expand your collection with art that fits your particular parameters. Then you progressively narrow down your search, since you have a very good idea about what you’re looking for. There are wide networks of artists, galleries, curators and others in the art world that aid each others sourcing. Getting in there can be hard but worth the while.
More casual collectors move around the art scene, attend fairs and festivals and pick up pieces of interest. This can follow a methodology as well.