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Great Advice When Indulging Your Passion for Collecting

I read the following article with a high degree of personal interest as a collector of antiquarian books for the past two decades, I can relate to the passion and sage advice offered by a world renowned collector of Dr. Jeffrey Lant, collector of fine art and antiquities from around the world.

The focus of my personal collection is the works of The Honorable Winston S. Churchill, former Prime Minister of Great Britain and World War Two visionary leader. Churchill lead a remarkable life and I became fascinated with the diversity of his broad interest and the narrative of his long and accomplished life. He was a flawed man and yet an impressive leader. He was a man born for the events of his times stepped into his great moments with hope and enthusiasm.

My collection began as most do, I haunted the used book shops near my home and whenever I traveled, often picking up a prized volume here or there. Needless to say, after a few years the supply literally turned dry and I began to explore Internet based specialty book dealers and eventually online actions. I have yet to attend a formal grand auction in one of the worlds great auction houses of the world, which is a major goal for me.

My desire to one day become an active participant on the auction scene is what intrigued me most about Dr. Lant’s article. This is a great primer for anyone with the slightest interest or curiosity about the auction world. I learned a tremendous amount about how to approach the entire subject and the only thing left to do now is take action! I am sure there are plenty of Churchill treasures on the market in need of a new caretaker. I am available to take up this worthy task with great anticipation.

The photograph that appears with this article is from Dr. Lant’s personal collection and provides a glimpse into the life of a collector and successful auction participant. I trust that you will enjoy the article and hope that it inspires you to fully commit to pursuing your passions.

by Dr. Jeffrey Lant

Right now thanks to the growing presence of worldwide auction houses online, the world is for sale. If you’re a committed (even obsessed) treasure
hunter like me, you want to know as much as possible about how to acquire as much as possible of the highest quality you can afford. This report will help.

1) Don’t be intimidated by the art auction market. The people employed therein will greet you with open arms as soon as you indicate you are a serious collector…  or hope to become one.

Personally, I started where you are probably positioned today. I wanted to connect with major international and regional auction houses but was afraid they might be exclusive and condescending. You certainly have nothing to worry about in that department. From the very first minute I trod on the red carpet at Sotheby’s London (one of the grandest places on earth) I have been the recipient of graciousness,  constant help, masterful insights, and (on days I failed to achieve my goal) friendly commiseration. Show that you are a budding collector, and you enter the rarified world of olde money, hot-shot billionaires, defunct aristocrats, and a host of bright people who have been waiting for you to make the party complete. Dress accordingly.

2) Gradually establish contacts with all the auction  houses worldwide that sell what you’re interested in collecting.

Remember, the world is now your (on sale)  oyster. Like all serious collectors, you want to know not just what’s for sale at the auction houses nearest you. You want to know (and be connected with) every auction house everywhere on earth that makes the items available in which you’re interested. This seems a tall order (I confess), but Rome wasn’t built in a day – and your collection and worldwide contacts won’t be either.

3) Start at the grandest of dames, Sothebys and Christies.

These two names stand above all others. Thus, start your special journey there. You can easily find their ever-changing websites and should do so at once. (A word of advice: I have never found their websites particularly easy to navigate. Don’t let that stand in your way. Responsible techs take note.)

These websites are (aside from some navigational unfriendliness) pure delight. Control yourself to avoid hyperventilation… and an unsettling feeling that you are already overwhelmed.

At first, you may be tempted to gorge by following all auctions. Avoid this temptation. Collectors specialize, at least in part to avoid feeling swamped. Over time (and taking that time is essential) you will pick a period or style… and thereafter make  your principal focus mastering these auctions. In other words, you will select a style like Empire or a collectible item like 18th century English silver. Make this choice as soon
as you feel comfortable in your new role as budding connoisseur.

4) Introduce yourself to the experts in your field(s) by phone or email.

Of course, you would like to meet and know all the experts in your fields at the major (or regionally significant) auction houses. But a personal meeting with each is unlikely to occur, given the fact they are posted worldwide. Thus, email or telephone experts. Introduce yourself. Be brief, be friendly, be focused. These people are very important in your quest for the very best….and you will over time make friends, not just professional contacts. Believe me, they will be glad to meet you, too, and to help you mature from an episodic grazer into a meaningful, knowledgeable collector.

5) Develop a list of conservators.

Face it. The overwhelming majority of antique art and artifacts on the market at any given time needs (often major) renovations. Prepare yourself. Smart collectors work hard to develop the necessary contacts, understanding that good conservators make good collections.  How do you find such people? Almost always by referral.

All auction houses maintain lists of suitable, recommended conservators for all collection categories. For instance, if you are collecting Old Master paintings, any good auction house will be able to recommend suitable conservators. They have vetted these people and always want to know your experiences with them. No one wants to recommend someone mediocre.

Now hear this: once you have found conservators who turn your wounded acquisitions into the cynosure of every eye, cherish them. Such conservators are absolutely essential to the development of what I call the “Wow factor!”, the unmistakable look that causes your visitors’ jaws to drop. This all-important look comes about by saving the maximum amount of the original object and using the conservators’ sophisticated talents and skills to solve problems so that no one ever knows they ever existed.

6) Have credit lines available for immediate use.

A few months ago, my long-time painting conservator, London-based Simon Gillespie called me with important intelligence: there was for sale in London not one but a pair of 18th century floral still lives by German master August Wilhelm Sievert. Because they featured the tulips (and more particularly the parrot tulips) that I desired, he drew them to my particular attention.

“When is the sale?”, I asked. “In 60 minutes,” he responded, having just come from the show room. “They are just what you’ve been seeking for so long.” The next hour was pure chaos, as I reviewed condition reports, talked to the auction house, booked my phone bid, etc.  Exhausted, I was ready just in time… and now this marvelous pair graces the wall before me as I write, resplendent, life like for all their ancient provenance.

They are here,however, only because I had financing readily available for just such eventualities and was ready to move fast to acquire what I wanted! Take note… and plan accordingly.

7) Collecting is a marathon, not a sprint.

Inexperienced collectors make one mistake above all others: they don’t know the vital importance of bidding limits… and of all the expenses which accompany acquisition.

Over and over again in auctions, I have seen otherwise intelligent people break the cardinal rule of auction bidding: to bid without previously established limit. As a result they acquire items at exorbitant cost, items from which they will never get their money back should they decide to sell, which may well happen as their “eye” matures and spendable resources wax fat and ample.  This is a very serious mistake.

Remember, when you acquire an item you acquire the buyer’s premium (usually between 15-20% of hammer price), the cost of shipping to your conservator, your conservator’s fee, relevant taxes both in the place of acquisition and your locale, shipping insurance, shipping costs to you (including custom agent),  movers to bring the goods to you and position them, insurance in situ chez vous, etc. It all adds up… and it adds up fast. Forewarned, however, is forearmed.

Now get started

You are about to embark, with the help of these suggestions, on the voyage of a lifetime, an activity replete with joy, victory, mayhem, frustration, and, as you contemplate the beautiful items you have acquired, pure, unadulterated satisfaction and bliss. I congratulate you. I know the thrills (as well as the pitfalls and irritation) of this journey.

However you know as well as I do, a thing of beauty is a joy forever… especially after you have acquired it and so positioned it that you see it before you each and every satisfying day.

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About The Author

Harvard-educated Dr. Jeffrey Lant is CEO of  Worldprofit, Inc., www.MyWorldprofit.net where small and home-based businesses learn how to profit online. Attend Dr. Lant’s live daily webcast and receive 50,000 free guaranteed visitors to the website!

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Are you a collector? If so, what do you collect? I invite you to post your comments and share a little bit about your passions and how you pursue them. If you have an interesting or funny story to share about your pursuits, I would love to read them and share them my blog. So, don’t be shy and tell us your story.

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