Our Tips On Keeping Track Of Your Art Collection!
Ok, so you are on a roll with your art collection – maybe you already have a few pieces and are adding to it when you can? As time goes on and your collection grows, it is very satisfying to make some sort of record of what, who, where, when and why!! Apart from the practical aspect of insuring your artwork, a reminder of what you bought, by whom, from where and why you bought it, is fun to look back on!
Unless an individual artwork is over £15,000, it is usually included in your house contents insurance (please do check with your insurers, don’t just take our word for it!). Therefore, it is good idea to make an itemise list of each piece of art you have.
It doesn’t have to be an ‘all singing, all dancing’ inventory platform, just a record that is easy for you to enter new artworks into and to look up information to a particular piece of artwork in your collection.
Everyone will want to tweak it slightly, but we suggest that you record:
- the name of the artwork,
- the description of the artwork (the medium i.e. oils, acrylic etc)
- the artist
- the gallery you bought it from
- the price
- the edition if applicable
- who bought it for you if a gift
- what the occasion was
Along with this, add an image of the artwork (front and back!) and an image of the artwork in situ (which can be added to if you move it around in your home!) and a scanned image of your invoice/receipt, bio on the artist, description of the artwork (artist’s inspiration) and a Certificate of Authenticity, if you had one. If you don’t have all of this information at your fingertips, do not hesitate to go back to the gallery you bought it from and they will be happy to provide you with any shortfall of information.
It is invaluable to have a list for packing up when moving, or putting artwork into storage, and of course, if an artwork was damaged or even stolen, you have all the relevant information for insurance purposes all neatly on record.
There is something about watching a list grow, isn’t there! It is fun to add to your collection and list! Happy collecting and happy reporting!