As wealth shifts between generations, and art mediums continue to straddle the analog and digital, a brand-new generation of art collectors is fast emerging around the world. But it has questions. Here, Art Basel Stories reveals everything you need to know about a first art purchase, including insider advice from Wei Rongda of Asia Art Center, one of the galleries participating in Art Basel Hong Kong; collector Ellie Huang, whose first purchase was at the fair in 2024; and the show’s director Angelle Siyang-Le.

It’s my first time at Art Basel Hong Kong. There’s so much art on view. Where do I start?

It is best to have a plan and do your homework – which is usually quite the stimulating exercise. ‘Large fairs like Art Basel Hong Kong can be overwhelming, so preparation is key. Researching the fair in advance is essential – review the list of participating galleries and artists, note any special programs or featured works, and plan a route that covers must-see booths and leaves room for unexpected discoveries,’ explains Wei Rongda. First-time visitors might want to block out two, three, or even more days to truly take their time and train their eye, take in the atmosphere, and fully view the range of works on offer.

It may also be helpful to realize that in the throes of visual overload (so much great art, so many people, and so much directional signage!), you are far from alone: ‘Even professionals can get lost on the fair floor, despite the top-notch signage we have in place,’ says Art Basel Hong Kong director Angelle Siyang-Le, with a laugh. She recommends that new collectors pinpoint the sectors that might interest them: ‘The sectors help you to focus on what you’d like to see. We have the Insights sector for artists from the Asia-Pacific region, which provides historical context for our side of the world. And if your focus is supporting emerging talents, Discoveries is the best.’

Ellie Huang, who bought her first piece at Art Basel Hong Kong in 2024, used to focus on the presentation of large galleries like Pace and David Zwirner, but lately has trained her eye on smaller galleries, researching their origins and regional histories. She still spends many days perusing art at Art Basel Hong Kong, and last year bought a piece – spotted in the booth’s back room – on the fair’s closing weekend.

I’ve never purchased an artwork, but I’d like to develop my taste and learn as much as I can as I build a collection. How do I start?

The old adage that knowledge is power applies to the art world and market as well. Therefore, aim to see lots of art in galleries and museums; read exhibition catalogues and art magazines; and of course, visit art fairs.

The first artwork purchase can be nerve-racking, but developing your eye and seeing your new collection evolve is incredibly satisfying. First, though, assess your reasoning and motivations. ‘We encourage those who already have some understanding of art to trust their aesthetic experience and instincts. They can start by collecting works that they genuinely appreciate and that are within their financial comfort zone,’ says Wei.

Huang did just this – the 27-year-old grew up with her mother’s art collection but also spent several years in New York frequenting the city’s art fairs and gallery scene and developing an eye. ‘For those who are still building their understanding of art, we recommend seeking advice from experienced collectors or art advisors,’ says Wei.

Siyang-Le’s advice is even more pointed: ‘Buy with your eyes and not with your ears! Especially for younger buyers: Buy what resonates with you, and not what you hear is good.’

What shouldn’t I do?

It is better to not be too impulsive. Don’t follow the crowds. And don’t think too much about the future. ‘Don’t rush into a purchase based solely on market trends or perceived investment potential. Collecting should be primarily about passion and connection, not just financial speculation,’ says Wei.

I’ve fallen in love with a work, but it’s outside my price range. Can I pay for it in installments?

Don’t be afraid to aim for what you love: Buying a perfect, but expensive, piece is often doable. ‘Not everyone is aware that galleries offer various payment options,’ says Wei. This can include payment over time, or even discounts. ‘In certain cases, small discounts may be offered to encourage a collector’s first acquisition, though this depends entirely on the specifics of each transaction. The most important aspect is building trust and ensuring that the collector feels confident in their decision.’

Is it a good idea to buy multiple works from one gallery or by one artist?

It can be deeply rewarding to follow and support an artist’s career over time, and just as nice to cultivate longstanding relationships with gallerists. But collecting many works by one artist ‘depends on the collector’s long-term vision,’ says Wei. ‘If they deeply connect with an artist’s work and wish to follow their evolution, acquiring multiple pieces can be meaningful. However, new collectors should also diversify their collection to develop a broader understanding of different styles and narratives in contemporary art.’ Early on, keep an eye open to new discoveries, but keep your first loves in sight. Huang always checks in with living artists she is currently collecting to see what new works they have produced, for example.

I’ve purchased a work at Art Basel Hong Kong. How do I get it home?

There are so many ways. For the majority of works, shipping is usually discussed with the gallerist. Excellent shippers specialize in the intricacies of art transport, including climate control and insurance, in every region where art is sold. ‘If the purchase involves international shipping, we explain the differences in import tax regulations across various countries to ensure the collector is well-informed before proceeding,’ says Wei.

If the work is small and made in suitable, durable materials, it is possible to take it home in your luggage (with the correct customs paperwork, of course). In such a case, Wei says, most galleries, including Asia Art Center, will ensure it is properly packed and assessed for risks before allowing a collector to hand-carry.

Huang likes to purchase art at Art Basel Hong Kong because it is close to home (this also means that if she is interested in a piece, she must decide on it quickly as unsold works leave with their galleries at fair’s end). And transporting art sometimes involves creative solutions. It is not unheard of to remove a painting from its wooden frame, transport it rolled in a cylindrical container, and then have a professional art handler stretch it over a new custom frame at its destination. Most galleries will also provide temporary storage for works, if needed.

What if I can’t make up my mind about buying a work?

Indecision is natural and very common. ‘We often encourage new collectors to reflect on why a particular piece speaks to them,’ says Wei. ‘Does it evoke strong emotions or thoughts? Will they still appreciate it years from now? If they are still unsure, we suggest taking time to revisit the work and comparing it with other options. However, if a work resonates deeply, it’s often best to act fast before it’s acquired by someone else.’ Huang knew, with her very first purchase last year, that she had to have it: ‘It was something I really deeply connected to.’ It caught her eye on the second day of Art Basel Hong Kong 2024. After talking to the gallery, hearing the story behind the artwork and the artist, and learning the price, she struck. Sometimes you just know.

I’d like to buy a work but someone else wants it, too. What do I do?

It is often possible to reserve a work, ideally by placing a deposit on the piece. ‘If a collector only expresses interest but delays completing the purchasing process, we will confirm their intent and remind them that other collectors are also interested in the piece. If a collector is truly interested, they should express their intent clearly and act in a timely manner,’ says Wei. Don’t wait too long. Don’t ghost.

How do I meet other collectors?

Becoming an art collector can be like joining a vibrant, international community: Take part in Art Basel’s VIP programs, cultivate relationships with galleries whose programs you connect with (you will invariably meet other collectors at events), and see whether independent collector groups exist in your region (and if not, maybe start one!).

During Art Basel Hong Kong’s busiest days, circulate among the many events beyond the fair floor: ‘We’re a meeting point of not only art professionals but also art enthusiasts and the cultural world at large,’ explains Siyang-Le. ‘Especially since COVID-19, we connect with the creative industries through different art mediums and formats – on the fair floor but also, for example, in the collaboration with Tai Kwun Contemporary’s “Artists’ Night”. It’s a new event that attracts both seasoned collectors and younger ones. Here and at other events we can present art that is beyond the things you see at the fair.’