In the past few decades, art collecting has drastically changed from a hobby only the top elites could afford to a phenomenon encompassing art enthusiasts of all backgrounds. Many attribute these changes to the digitalization of the art market, especially after the COVID-19 pandemic. The emergence of the new wave of art collectors has increased the demand for accessible, high-quality art collection management services. Here is what all collectors who are entering the art market for the first time need to know.
What is art collection management?
Effective management is an essential part of building and maintaining a valuable collection. Imagine a situation: a new art collector has just acquired several physical artworks by their favorite artist. But once the thrill of owning their first-ever piece of art goes away, what do they do? This is where knowing how to manage a valuable collection becomes essential.
Inventory
The primary responsibility of art collection management services is keeping records. Art specialists create inventories containing the condition and location of the valuables, as well as other important details about them, such as descriptions and photographs. Thanks to databases, mobile applications, and other digital tools, all information about an art collection can be easily accessed and updated. Inventories are essential for artwork collection management because they prevent pieces from getting lost or damaged.
Condition tracking and maintenance
To effectively manage an art collection, its condition should be monitored at all times. Art collection managers should regularly reassess the condition of artworks, including whether they are stored and packed according to the specific requirements. Any signs of damage or poor maintenance should be addressed immediately. The easiest way to ensure an artwork collection is taken proper care of is to entrust it to a fine art storage service. Art handlers working at art storage facilities are familiar with the best art storage and packing practices. Their job is to ensure that all valuables stay in perfect condition during storage.
Art collections are valuable assets that should always be handled with their fragility and scarcity in mind. Both beginner and seasoned collectors can greatly benefit from professional artwork collection management services. Keeping detailed records and closely monitoring an art collection’s condition can help prevent a loss in the value of artwork due to damage, facilitate future sales, and preserve the art collection for years to come.