photo via http://www.oprah.com
Peggy Cooper Cafritz is a longtime art collector, and offers these tips for starting an art collection (via http://www.oprah.com/home/How-to-Collect-Art ) (her tips are quoted, my thoughts follow each tip):
1. "Trust your gut - buy artists who really grab you."
Really, in my opinion, there is no "good art" or "bad art." Each person will be moved by something different. What you love, may make other people cringe, or visa versa. You have to be able to live with the piece you purchase, so buy something that really grabs you.
2. "Search for affordable pieces at art graduate school and high school exhibitions."
If you are really moved by a piece, then it does not matter how famous the artist is or their age. (also see #4)
3. "Look for great inexpensive photos to purchase from newspaper or magazine articles."
(Honestly, this is something I plan to look into that I've never thought to do before.)
4. "Buy an artist early. It gives you a career to follow."
You can "discover" an artist when they're young and first getting their work out there. They will be thrilled to have a collector and you can follow along with all their works. (also see #2)