A Guide to Starting your art collection, with JM Finn

Like investing, starting an art collection can be a little daunting. To celebrate JM Finn’s partnership with the Affordable Art Fair, Battersea, 21 – 24 October, they’ve put together a guide for first time art buyers, along with some answers to common investment questions.

How do I start my art collection?

Here are JM Finn’s top tips to help make your first purchase the right one:

1. Keep track of your favourite artists: social media, particularly Instagram makes it easy to find and follow lots of different artists. The more you see of their work, the more you’ll know whether it’s for you.

2. Look around: art fairs and galleries provide a great platform to browse and discover new work. And of course, we happen to know of an affordable option, just a few weeks away! Browsing is a great way to get a feel for what you like and what you can afford.

3. Buying a print can be a good way to start: but make sure it’s a limited edition print run, and ensure it’s well framed. This can be a cost-effective option to grow your collection.

4. Trust your instinct: ultimately, you should always buy what you like and trust your gut.

5. Remember a piece of art should be enjoyed, so don’t feel constrained by conventions: if you like something that is original and seems different to the normal you, have the confidence to go for it.

6. Consider your space: are you buying something for the living room or the bedroom? It always helps to measure your space before hand! And if when you get it home it’s not working for you – try placing it in different rooms around the house.

7. Get it framed properly: depending on where you bought the picture, it might need framing. The right frame can make a big difference to the picture. The gallery will be able to help in this regard, but do factor in the cost when making the purchase as framing isn’t cheap.

8. Don’t think about it as an investment: it might sound counter-intuitive, but ultimately, when starting out with art buying, go for what you love, not because you want to sell it down the line. Of course, it’s lovely if it does retain or grow in value, but when starting out, we recommend going with your heart.

Now, let’s debunk some investment myths!

Whatever stage of life you are at, you’ll have a dream. Be it to buy a house, fund your children’s education or travel the world. Investing in a portfolio of stocks and shares can make your hard-earned cash work a bit harder and bring you closer to your goal. Here, JM Finn de-bunk some of the most common misconceptions to help you start investing:

1. You need a lot of money to invest in the stockmarket

At JM Finn we offer a personalised service to all clients with investment levels starting at £20,000. This would give you access to an individual investment manager who would look to build a relationship with you over time and understand your investment requirements and, importantly ensure you have someone to talk to as and when your circumstances change.

2. To have someone do it on my behalf is prohibitively expensive

Investing in a multi-asset portfolio where the assets are pooled with those of other investors can be a cost-efficient method of putting your money to work in the stock market. We manage a range of unitised funds designed for smaller accounts where the and the fees are built into the price of the funds to make it as easy as possible.

3. I’m better off investing in property

It is becoming less attractive for private investors to buy and own investment properties, as landlords feel the pinch from tax changes aimed at making properties more affordable for home owners. This is likely to be a long term trend and its worth remembering the additional hassle that goes with investing in property, such as maintenance and finding a tenant.

4. I’d rather invest myself than pay someone else to do it

Doing it yourself is often a cheaper option and there are many online tools today that make this easy. We see investing as a full time occupation, with all aspects of a portfolio needing to be reviewed on a regular basis. Coupled with the individual research of each and every holding, successful investing is often restricted to professionals rather than time-poor investors working hard on their careers, supporting their families or nurturing their passions.

5. Investing is complicated

It can be. That is why we continue to offer a personalised service when so many look to automate it. We believe that having someone at the end of the phone who knows you and your investment requirements is key to simplifying the whole experience.

6. Investing into a pension is too far away to think about

It may be, but the sooner you start investing the less you’ll have to put in to reach your goals. And remember, investing in a pension can be a tax efficient way of saving.

And please note, the investments discussed may not be suitable for all investors. The value of investments and the income from them can go down as well as up and investors may not get back the amount originally invested.

JM Finn and JM Finn & Co are trading names of J.M. Finn & Co. Ltd which is registered in England with number 05772581. Authorised and regulated by the Financial Conduct Authority.Registered address: 25 Copthall Ave, London EC2R 7AH

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