Glamour: You Don't Have to Be Baroness Thyssen-Bornemisza to Collect Art

Collecting art is associated, in most people's minds, with great fortunes or lucrative ventures. With artist names that are part of textbooks and who break bidding records at auctions. It's true, but this facet is just one of many that make up a market, which in the case of Contemporary Art , generated $1.89 billion in 2023/24. This past March 5th, the 44th edition of ARCO Madrid kicked off at IFEMA. This year it brought together more than 200 galleries and 1,500 artists. It has become an international benchmark and a meeting point for collectors: Spain ranks seventh in the world art market, representing approximately 1% of the global market. While it's true that the event is always open to the public, generally on its last two days coinciding with the weekend, for enthusiasts, but not just buyers, the main objective is sales.

In a field where fluctuations in the value of works of art are driven by the dictates of trends and where knowledge is paramount to avoid being fooled, the entry of new buyers is slow. First Collector was created to dispel myths and guide those who want to enter this world through their first steps. Managed by Arte Global and sponsored by the Banco Santander Foundation , it is a free and personalized service whose objective is to bring collecting to the general public and encourage new buyers to take the plunge. Its history celebrates its 16th anniversary in 2025. To learn even more about the topic, we met with Elisa Hernando, founder and director of Arte Global, an expert, passionate art collector, and herself. Breaking with the saying "in a blacksmith's house, a knife sticks." “I've always been passionate about art. Even before I bought. Professionally, it was a world that fascinated me, but it's very complex. When you're starting out, you realize that everything is very difficult. You don't dare, you're embarrassed, you don't know if you're buying well, if the price they're asking you is fair, or if it makes sense… From that, in 2003, the idea of being a consultant emerged, and I set up this service. The goal is to advise people who want to start collecting and who also want to buy for companies and institutions. At that time, the business model didn't exist in Spain, but it did in the US.”

• The passionate: acquires art for its aesthetic and cultural value, prioritizing personal satisfaction over profitability.
• The non-exhibitionist: buys without the intention of showing off, prioritizing the private enjoyment of their purchases.
• The possessive: collects with a strong desire to accumulate and possess unique pieces.
• The practical one: seeks a combination of enjoyment, investment and social status.

The differences in acquisition criteria between an individual and a company or institution are not as great as one might expect, except for budgets. "There are common points. Ultimately, a collection seeks to be a reflection, in the case of an individual, of their personality, their interests, or what draws their attention in the world. In some way, they want to surround themselves with objects that speak to all of these things; it could be something aesthetic or something that invites reflection." A company longs for a common thread that relates to its business and commercial philosophy. An example is the collection created, and which continues to grow, by the company Idealista: it has focused on photographs "that reflect on the impact of urban planning on society, but from a critical perspective; not something pretty, but images that seek to provoke reflection."

An important requirement to keep in mind when starting to buy in this market is the connection between the works: "You don't just have to look for individual value, but also for a combined value, an added value that unites them. Even if you have three works, it's always interesting to ensure they follow a common thread, whatever it may be, the one you want, the one you feel comfortable with. From there, you'll develop the rest." At First Collection, they help create that thread of continuity, as well as help you recognize and understand which artists will have greater impact or not. Elucidating these aspects poses a highly complex challenge for novices: "In art, ultimately, what's valued is your capacity for innovation and creativity, your ability to break rules, to create new languages, to do things that no one has dared to do at that time, and to defend them consistently."

You don't need a large budget to acquire pieces; you can start with €500. It's important to know that the acquired work won't always appreciate in value. "I don't buy it saying tomorrow I'm going to sell it and make €100,000. Having it on the wall of your house also has value: enjoying it, sharing it with your family, with your children. That's important. And knowing that the price you're paying is the right price." This last question can only be clarified by an expert. When asking Elisa Hernando what the most frequent and immediate questions are that arise when starting to advise a newcomer, the prosaic and pragmatic nature of these are surprising: how to pay VAT, whether specific insurance is needed or just home insurance, how to store it, what certificates should be provided proving the authorship and authenticity of the artwork. The expert ends the conversation with a warning: "Collecting art is addictive. The vast majority of people who start out get hooked."

Elisa Hernando's recommendations for ARCO Madrid 2025

1- The central lanes of each pavilion house the most important galleries. The side lanes house the most recent galleries, featuring young artists.

2- Pavilion 7 is the one that houses the most renowned artists.

3- Don't miss the space dedicated to the Amazon, curated by Denilson Baniwa and María Wills, in collaboration with the Institute for Postnatural Studies: Wametisé: Ideas for an Amazon Futurism.

4- Her favorite artist, whose work she bought last year, is Chiharu Shiota, from the Nieves Fernández Gallery.