A week ago I went on a cruise and wouldn't you know it, there was ART! Park West is partnered with Royal Caribbean and they have art auctions and art seminars. Plus, the Park West staff was friendly and loved to talk art, which made it a great experience. I made some friends, but I have no idea if I'll talk to them again (I did give them my art business card, so they could contact me if they wanted to).
But one of the art seminars I attended was "The Art of Collecting Art" and it reinforced some things I already understood. Here is a summary of what I absorbed.
1. Collect what you love.
Don't go out and buy something just because it will be work gazillions later on. In the meantime you will despise it. It's better to fall in love and pass it on to your children and children's children than to buy it just to flip it.
2. Is it real?
Make sure that you are purchasing your art (original and reproductions) from someone reputable. Stay away from foreign countries where it's common to have fake reproductions created, shipped, or sold.
My husband and I actually collected some art at the art auctions. Every artist needs to have something other than their own art hanging up at home.