Where to begin as an art collector (part 2 of 2)
Jan 17, 2025
Want to become an art collector but don’t know where to start? Jaz Kong gets a primer from some of Hong Kong’s leading experts in the trade
Cyrus Lamprecht, independent curator, art critic, author and collector
In August 2024, ZtoryTeller and Cyrus Lamprecht held a book sharing and cocktail night to commemorate that latter’s poetry and novel The Durum Wheat, alongside the exhibition Every Way of Life detailing Lamprecht’s journey as he penned the book. Among the music, movies and literature that inspired him, Lamprecht picked about 10 or so artworks from his own collection to be displayed at the exhibition. Consisting of pieces by young local artists, Lamprecht’s collection was an exemplary showcase of how one can build a meaningful and beautiful collection with a budget of less than HK$100,000 per piece.
After earning a Master of Research (Art) in Theory and Philosophy from Central
Saint Martins, Lamprecht returned to Hong Kong during the pandemic and since then
has been tightly intertwined with the local art scene. His first job as a researcher at Villepin exposed him to writers, artists, gallerists and art lovers in town, but what drove him to pay closer attention to local artists was the talented Belinda HY Chan.
Lamprecht recalls realising the potential of Hong Kong artists after being introduced to Chan’s works, and immediately DM-ing her on Instagram about buying her available works. From that first purchase, his collection has grown to 20-something pieces by local artists such as Wing Kwan Kwong, Afa Lee, Dallas Lee, Rosalyn Ng and more – most bought for less than HK$100,000. “This budget offers quite a lot of choices for someone who has just started collecting,” he says. “Normally about HK$20,000-30,000 would be a common entry point for buying an original work from a local artist. While not so common locally, prints, editions and lithographs are actually rather sought- after in European markets, especially in the UK. Sketches might also make good collectible items.”
So what ignites Lamprecht’s passion for local artists? “I believe a lot of them have boundless potential. From their messages and ideas to style and artist expressions, they have a unique voice. Exhibitions I’ve curated are all about local artists, because while most blue-chip galleries choose to focus on international artists, we need to provide more resources and space for local talents. Besides, being born in Canada and raised in Hong Kong allows me to resonate deeper with them. It’s not about the cultural or historical reference, but rather the emotional and psychological connections.”
Collecting purely for collecting’s sake with no investment purpose in mind (although he jokes about selling some pieces when he’s broke), Lamprecht takes art collecting very seriously. “The action of collecting is not about buying and taking away a work; it’s about safekeeping it temporarily,” he says. “I’ve never replaced or sold an old work, because sacrificing it for a new work is a bit unethical.”
Also see: What to look for when buying art
Lamprecht’s approach to collecting is poetic, but it doesn't mean he opposes collecting as an investment. For someone taking their first step into the art world, Lamprecht says, “If you truly like a piece, and if the artist is on site with you, I believe it’s a must to talk
to the artist and tell them what you think. I’ve heard a lot of collectors or art lovers who
are somewhat scared to ask them questions, or choose to stay on the receiving end of information. A true art lover must know about the artist’s concept and what their own preferences are.”
When it comes to curating and collecting, Lamprecht only considers artists who
have had more than one solo or group show. “It demonstrates the artists’ dedication and sustainability,” he explains. “Some artists only do it for a spark of interest, but it’s not long- lasting. For personal interest or investment purposes, I’d like to witness the development of the artist and perhaps collect their works from different phases of life. There were examples in the past where some only painted according to trends in the art world, but painting for the market instead of personal aesthetics is not sustainable.”
Lamprecht’s approach is an interesting example for new collectors. There are unique benefits to being able to connect with local artists, and the artists themselves appreciate this relationship as they’d rather sell their “babies” to a friend than a stranger. This mutual exchange is emotionally satisfying, and even if one is fixated on the investment value, knowing an artist well is key to realising the full investment potential of one’s collection.
Nick Wilson, head of Editions, Photographs and Design at Phillips in Hong Kong
Phillips is the only auction house in Hong Kong, and indeed in Asia, that brings prints and editions to the spotlight by arranging a dedicated auction for this category alongside photographs and design collectibles. And according to the man in charge of the Editions, Photographs and Design department, editions will only gain more attention in the
Hong Kong market.
“We’ve identified that that’s really the key market, which is ready for its own category in Hong Kong as we do in London and New York,” says Phillips’ Nick Wilson. “While photography and design will fold back into the New Now: Modern & Contemporary Art sales, the next Editions sale will be planned for March alongside Art Basel Hong Kong and art month.”
Speaking to us after the Editions, Photographs and Design auction in Hong Kong on December 12, Wilson reports, “It was a success, having around 80-90% sold. The market at the moment is a little bit tricky, but I think it affects this price range a little bit less. When we say it’s the second auction of this category, we still had prints before, but it was blended with everything else. The origins of this is that we started selling prints, photography and design since we started selling contemporary art in Hong Kong. So this is really giving them their own platform, and we’ve been seeing more and more demand from Asia in those categories. So we thought it was good timing to kind of bring it to Asia.”
The mindset of buying in the primary versus secondary market is noticeably different,
in terms of business model, records, and the impact of the global and regional economies. If a beginner wishes to set foot in the art world starting with more well-known names such as Takashi Murakami, Damien Hirst or Zao Wou-ki, editions could be a good starting point. For example, one of the Murakami lots from the recent Phillips auction, a set of three offset lithographs, sold for just over HK$10,000.
“It’s one of the reasons we introduced this cross-category sale to Hong Kong; because it’s an entry point for collectors. You can buy really well-known artists for a fraction of the price of original works,” Wilson says. “We’ve seen in the past two sales that drew a large number of new buyers – and that’s exactly why we did this, because we want to cultivate new buyers and try and attract them to the sales. Having said that, a lot of people stick with editions and continue collecting them and just focus on editions. Or it’s just part of their broader portfolio and they collect both editions and original works.”
However, a lower price point does not mean less preparation or homework. Each lot has its own distinct state, condition and provenance, and each contributes dearly to the price (as makes sense for the secondary market). “Generally speaking, what we offer is limited editions. The artist is involved in the creation of the prints, so it can often be actually a more involved process than creating an original painting, for example, because of all the plates that need to be created by the artist, the approval at each stage and so on. So it’s often an integral part of their kind of creative process,” Wilson explains. “I think there is some education needed around that. And I think people are often scared off by the notion of prints because they think, ‘I don’t want to own something where there’s several copies around the place’, but actually each one is pretty much unique because every time the artist pulls a print, it’s slightly different to the other versions.”
When it comes to the ultimate question of whether to collect 10 Zao Wou-ki editions or a single original canvas work, Wilson says, “It’s a difficult one. I think I wouldn’t necessarily go out and buy 10 Zao Wou-ki prints. I would buy a variety of prints and there’s pros and cons to each. What you’re doing is diversifying a bit by buying 10 different things. My preference would be to buy different artists, different works for the same amount of money.”
And if Wilson were to advise a first-time buyer, what would have been his pick in the past sale? “The blue Zao Wou-ki (Untitled (Å. 389), 1995). The colours are very striking. It’s an abstract. It’s appealing to a broad number of people. I think it’s part of a large body of work that he produced. And if you looked at it alongside his other works, I think this one really stood out. It had impeccable provenance in that it came from Zao Wou-ki’s daughter directly. It was also a rare edition because it was gifted to her. So it was outside of the normal edition run. In that sense, it was very rare. So I think with all those boxes ticked, for a first-time buyer that’s a great purchase.”
