Art groups are a fantastic way to approach the art world. For many reasons:
A group of friends/colleagues get together and fund, choose, acquire and discuss art.
Install your purchased artworks in your homes, rotating them around the members every couple of months.
You don’t have to spend a fortune individually, but have great collective buying power.
You get to live with your friends’ taste, when they buy something you wouldn’t have, which helps you develop your own taste.
"When they bought it, I didn't like it, but after it was my turn to hang it at home and I’d had it a few weeks, I fell in love with it".
the Art Counsel can provide you with a basic structure to the group, and a free copy of a draft contract, which outlines lots of the unknowns, like what happens at the end of the group, what happens if a member moves overseas, or wants out half way through, how to handle insurance, transport, framing, etc.
The basics equation is as follows:
Get a minimum of ten friends together. Twelve is ideal.
Agree to commit $40-$50 a week into the group’s bank account, for 5 years
Each quarter, three members of the group (the ‘buying committee’) have $5,000 to visit galleries and auctions and make their acquisition. You can choose one artwork worth the full $5k, or a few artworks that make up the total
These artworks then rotate the members’ homes on an agreed timeframe
The group agrees to the method of selling or distributing the artworks at the end of the five years.
the Art Counsel can help with all aspects of the formation and management of your group, including recommendations and acquisitions on your behalf. There are various fees for the different levels of our involvement.