Start Documenting Your Art Collection ASAP
What is important to know for a collector about this process is that a work you own being included or excluded from a respected catalogue raisonné for an artist can have a considerable effect on the market value of a work, this can amount to large sums of money. The inclusion of a work in a catalogue raisonné has been called the difference between "great wealth and the gutter”.
You need to catalog your art collection
This museum website also serves as the catalogue raisonné’ of the Montague Family Art Collection as a database-catalog.
Digitizing your art collection in a catalog format helps to organize, safeguard and manage you fine art investments. We have a Librarian / Art History major in the family, but you don’t need a master’s degree in Library Science create a quality art collection catalog. Best practice is to start collecting your artworks documentation with your first purchase. A quality artwork catalog record will include the provenance documents and high-quality images. Your Fine Art database-catalog will be the most important resource in the event of theft, fire, or flood damage, and any unpredictable loss. Write down everything you can about the artwork you own, from memory or if you need to you can contact the original seller. Include information like the following:
Try to get descriptive written statements from artists or galleries. Any stories the sellers tell you specifically relating to the artwork, it it is from a gallery in should be apart of the artist show statement. Whenever possible, get descriptive written statements from artists, galleriesNote details about the purchases including any memorable moments the artist may have had when making them, music they were listening to, deaths of loved ones, illness and hardship. This is extremely relevant for commission artwork. Documenting what the art means or its significance to either the artist or or commissioner. Biographical and career information about the artists and how or why or any other information about how the art was made.
Step 2: Add the provenance details & Notes for each piece.
You will need to record the artwork title, artist name, objects physical dimensions, creation date, price, medium, and subject matter to have a detailed provenance record for each piece to start. You could also add the work's condition, acquisition details, signature notes, etc. Write a description of each piece. These can be the thoughts shared by the artist while they were creating the artwork or for the gallery show your work is from —this can come from an artist statement, gallery promotional materials which could discuss the inspiration for the work, references. I include email correspondence with the artist and galleries. You can also add notes about how the work came into your collection and record any information that will help support the authenticity and provenance of the work. Save and file all related books, exhibit catalogues, gallery brochures, reviews, web pages and so on.
A catalogue raisonné "Reasoned Catalogue" also called a critical catalogue is a comprehensive, annotated listing often in (published book format by a noted art historian or scholar) of all the known artworks by an artist in a particular medium or all media. The artwork is described in a way that they may be reliably identified by third parties, and those listings play an important role in artwork authentication and valuation. The official catalogue raisonné’ for an artist’s career are major projects and often involve large teams of researchers contributing to an effort that can take many years to complete.
The version of this for your personal collection will be different but creating and maintaining a Reasoned Catalog of your Fine Art collection will lay the foundation for having a well-established, well documented, and properly insured fine art collection.
Step 1: Take high-quality photographs.
This is the most logical first step in the catalog process: it is important to have multiple high-quality images of your artwork. This is especially true if the piece is loaned, lives in a separate building, second home, or storage. It is nice to have beautiful, high-quality images of your work to send to an exhibiting organization, accountant, attorneys, insurers as well as potential buyers and galleries.
Step 3: Upload and track important financial documents.
This will be the sales transaction documents, which are critical since it supports not only authenticity but is clear legal title that establishes your acquisition and proof the value of your piece on the date it was purchased. The record archive for an artwork should include all important documentation related to your works of art including bills of sale, appraisals, condition reports, press releases and literature pertaining to the artwork and artist.
Save all receipts, certificates of authenticity and other relevant written or printed materials you receive with the art. Ask for as much of it as you can at the time of purchase.
Step 4: Record maintenance
You must keep the Artwork portfolio up to date, don’t just create it and think you are done. It is important to document any changes to the Artwork in its associated portfolio, you must keep track of the maintenance, conservation or repair of your works of art. Record what maintenance happened, why, who did it, and costs like fees, customs, shipping, etc. Upload important files like invoices, conservator notes and images in a stable printable PDF format. If you don’t have the capacity to create a website or pay for art collectors database service, Just keep your Art Documentation on a USB in a well organized and updated file format with titled file for each art work. Keep the USB with your insurance documents and important papers.