WELL TALK: Liwiusz Krawczyk - a Polish collector with the soul of an economist: "I started very rationally"

Angelika Lachawiec Well.pl: It's been 17 years since you bought your first work for your collection. Do you remember the moment you first decided to buy art?

Liwiusz Krawczyk: Of course, 2007 and 2008 were groundbreaking for me. It all started quite pragmatically. As an economist, I was already looking for broadly understood diversification of my investment portfolio – I was interested in assets that were not directly correlated with traditional financial markets. I approached the subject rationally: analysis in Excel, numbers, trends. I also remember my first purchased work very well – it was a serigraph by Jan Tarasin.

What played a role then – intuition, fascination, coincidence?

At that time, the choice was quite simple – either old or contemporary art. Looking through the prism of what moved me emotionally, I chose contemporary art. I had the feeling that the contemporary art market had a greater potential for growth. I thought that the works of artists who already had an established position on the Polish market were underestimated. On the other hand, in the case of old art – although this is of course a very subjective and probably simplified opinion – it seemed to me that the potential was much smaller. I would add that that time was a period of intensive education for me. Education opens us to a new perspective – it teaches us how to read images, which is particularly important in the context of abstract art. After all, we perceive it primarily through emotions. And emotions, especially in the world of investing, are of fundamental importance.

But don't these emotions actually hinder investing?

Yes, you are right. And that is why when someone calls themselves a collector, they enter a certain area of ​​risk. Why? Because a collector is not only a buyer – they are someone who is responsible for the choices they make, for the artists they support, for the works they show to the world. Their decisions are important – also for the history of art. A collector is also someone who is willing to pay much more for a work than current market expectations would suggest. They are aware that a given work may not appear on the market for years or even decades. Sometimes this is the only chance to get it.

As for these emotions... Of course, you can set yourself financial brackets or frameworks that you don't want to exceed. But then the question arises: how do we approach art? Do we look at it solely as an investment, or is the emotional component also important? In our case, the emotional aspect appeared over time. After about a decade, we started buying with our hearts. Often, it ended with us simply overpaying. However, it is worth emphasizing that a temporary overpayment is not a problem if we approach collecting in the long term. Unfortunately, many people today think differently: they want to buy something and make a quick buck on it.

So when investing in art, it’s worth thinking long-term?

In my opinion, art is a relatively safe asset – especially if we are talking about a horizon of at least five years. And best of all, if this horizon reaches a decade – then the security of the investment is really great.

The Art Collector Identity: From Investor to Art Lover

Did the investment approach that guided you at the beginning develop into a genuine passion over time?

Yes, and in our case it was definitely not a revolution, but a gradual evolution. For the first years – five, maybe even seven years – the collection grew slowly. You can even see it in different comparisons: by 2012 or 2013 we had maybe 10–12 works, so it was not a “crazy” expansion.

I will return to this education once again - if a person really wants to learn, a strictly investment approach can turn into a collector's passion - and that's what happened with us. Over time, this passion became really strong. But it didn't come straight away. Education made us look at art differently with each subsequent painting - and it is still like that today.

Thanks to this, our adventure did not end with 10 or 15 paintings. We went much deeper into it. The collection grew not only in terms of the number of works, but also in quality – today we already have several works that could easily be described as museum pieces.

To reach this level, was it necessary to change the identity of the collector – from an investor to a true enthusiast?

You can't build a conscious collection in a hurry. Of course, if you have a lot of capital, you can buy a ready-made set of works and call it a collection. You can also call yourself a collector. But that's not the point - it doesn't work that way. It's not just about owning the works, but above all about going through a certain process. I myself matured for Hasior's work for a long time. At first, his works simply repelled me - maybe that's too strong a word, but there was definitely no "chemistry". Only with time, after a longer relationship, did I understand their power and wanted to have them myself. Everything takes time.

Artwork is a unique investment asset

What do you like most about collecting art today? Or maybe you just love art itself?

Art is an asset that is poorly correlated with other markets – whether it’s real estate, the capital market, or cryptocurrencies. I’m not saying that you have to give up on these other markets – quite the opposite, diversification is important. But I think it’s worth investing some of your capital in art.

Firstly, in the long term it gives a positive rate of return. And secondly – ​​and this is key for me – it is an asset that gives something more. Something that other markets do not offer. You can have the satisfaction of owning another property, but art gives additional emotional and aesthetic values ​​that cannot be bought in any other way.

How to build a private art collection?

Your collection consists of over 80 works. How would you describe it? Do you see a dominant theme, a common emotion, a language – something that could unite it into a single story?

To be precise – our collection is much more than the 80 works presented at the auction at DESA Unicum. It is only a fragment of the whole, carefully selected fragments of a wider collection.

Although at first glance the dominance of the post-war avant-garde – the so-called classics of this trend – attracts attention, this does not give the full picture. Among the exhibited works there is also an interesting thread of women's art. The collection includes works by female artists who, at the time of their acquisition, were not yet widely recognized – today their presence takes on a new meaning.

This shows that the collection, which we are partially presenting, is not built around a single aesthetic or historical canon. On the contrary, it is based on diversity. We did not limit ourselves to a narrow group of names. From the beginning, we were guided by openness and a desire to explore. While today we consciously focus on a few selected creators, in the initial phase of our collecting journey we focused on a broad view and searching for our own language.

Where did this idea come from?

The decision was based on caution. We consciously did not limit ourselves to two or four names, because at that stage we did not feel competent enough. We did not want to risk too narrow a choice. At that time, building a collection had a more subconscious character – based on the principle of "more is better than less". Above all, the issue of financial security mattered.

At what point did the desire to invest in specific names and collect works by specific artists arise?

It was around 2017, maybe 2018 – a decade after my first steps in collecting. Then, works appeared that really moved me. The emotions they evoked were much stronger than the prices I was willing to pay for them. This was the case with works by Abakanowicz, Tarasin and Gierowski. We have several of them in our collection.

When we look back on it, it is clear that it was a process that took some time - in my case, about ten years. It all depends on how much time and attention we are able to devote to it. The truth is that you cannot build a valuable collection without real commitment. Besides - there are few things in life that can be done well without passion and consistency.

The Collector's Compass, or How to Buy Artworks

What influences your decision to purchase a given work today? Research, conversation with the artist?

When it comes to young artists, I still approach this segment with some caution. I am aware that my knowledge in this area is not yet deep enough. The young art market is very diverse and dynamic – it is difficult to find one’s way around it and accurately assess who actually has the potential for a lasting presence.

This does not mean, however, that young artists are not present in my collection – on the contrary, their works are also there. Nevertheless, the core of the collection is made up of post-war artists, often deceased, whose work has already become established and gained a historical context.

Currently, the most important criterion for choosing is whether I really like a given work. If it doesn't suit my taste, I don't take any further steps. The second issue is the financial aspect - sometimes the work is great, but it's simply too expensive at the moment. Then I put the subject aside for later.

So it's something like a collector's internal compass? Can it be learned?

Of course, yes! Although certainly not overnight. I think it will be easier for our children. They are raised in a home surrounded by art, from an early age they run around and recognize the works of Winiarski or Stażewski. It is natural for them. On the other hand, I myself am an example that even someone who was not raised in an artistic home can develop this sensitivity.

If we really want to go deeper into the world of art, we have to watch, watch and watch some more. We have to develop an eye. Without it, it is difficult to be a conscious collector and make good decisions – a table or a chart alone is not enough. To develop this eye, you have to spend time in museums, galleries, exhibitions, openings. This is where emotions appear – and they are the driving force of collecting. For me, art works a bit like a charger – it can recharge me, like a good vacation. We devote time to it, but it is not wasted time – it is an investment in ourselves.

Collector Mistakes - What to Avoid When Buying Art?

The road to creating the collection was long and, as one might assume, not without mistakes. Were there any decisions that you would now, with a smile, consider valuable lessons?

Once, when I thought about it together with my wife, we came to the conclusion that we had not made any mistakes – at least not any that we would regret today. Of course, from a purely investment perspective, we can point out some stumbles.

For example, what?

In 2015, we considered buying works by young artists – the names of Bartosz Kokosiński and Ewa Juszkiewicz appeared then. At that time, Ewa's paintings cost 8–12 thousand złoty. We decided not to buy them – and today her works reach prices exceeding 2 million. You could say: a mistake. But with hindsight? Firstly – we don't know whether this painting would still be in our collection. It is possible that we would have sold it much earlier. Secondly – ​​at that stage we could not expect more from ourselves. We were in the process of learning. From today's perspective, I believe that we did more than we really could. Most importantly – we developed an emotional sensitivity that we did not have before. And this is a value that cannot be converted into any auction quote.

When building your collection, did you use the help of advisors or curators, or were you inspired by other collections?

Without a doubt, our inspiration was Wojciech Fibak's collection – he is probably the first private person who boldly showed his collection in public. And that is beautiful! Collecting is not about owning works, but also about sharing them, about enabling others to draw energy and emotions from them.

Did we have an advisor? No. If we had, the collection might have looked different – ​​more complete, more coherent. But on the other hand, if someone had guided our choices from the beginning, we might have been put off. At first, I was very price-sensitive – I received offers of very good works, but their price put me off. If the advisor had insisted on such choices, I might have withdrawn and we wouldn’t be where we are today. Everyone has a different sensitivity and pace.

You started with a very small budget, right?

Indeed. The first purchases were works for PLN 500. For several years, we did not exceed several thousand zlotys. Today, you can also start your adventure with art with a limited budget. Then it is worth thinking about posters, small formats, young artists. We have undergone a certain transformation - and I am very glad that we entered into it.

Art circulation – is it worth sharing works of art with others?

If you had to pick one favourite piece in the collection, what would it be?

It is difficult to point out one work. At the opening of the BWA in Katowice, this question was asked – I thought I could answer, but Professor Irma Kozina aptly noticed that I was unable to choose. I will mention a few: Tarasin's earlier works – "Rain" or "Objects" from the 1960s, works by Stefan Gierowski, as well as reliefs by Henryk Stażewski. But one favourite? I will not point out.

Will you be parting with any of these works – or several of them – soon?

Yes, we are parting ways with some very important works for us. But we believe that they will end up in good hands and someone else will have a chance to enjoy them. We have already charged up energy from them.

So you are in favor of works of art remaining in circulation?

Yes, although I believe that a certain core of the collection should remain unchanged. Nevertheless, the fact that some works "circulate" is not a bad thing - quite the opposite! Especially when they already have a history, provenance and came from good hands. This is a value in itself.

Polish art market - potential for young collectors

How do you assess the art market in Poland today? Is there room for new, young collectors?

There is no such thing as a "perfect moment" to enter the art market. It's a bit like the capital market - there's always the question: "is it now?", "or is it better to wait?". The truth is that we never know for sure. I believe that there is always room for new collectors - including today.

The art market in Poland is developing very dynamically. For several years now, we have seen that the turnover of auction houses reaches PLN 500-600 million per year. However, it is worth remembering that a large part of the transactions takes place outside the auction market – in the so-called private trade. These are works that never go to auctions, but change owners between collectors. These numbers are not recorded anywhere, but their value is significant. In my opinion, the real value of the art market in Poland today is PLN 800 million, maybe even a billion per year. I think that we are facing stable development – ​​not only in terms of turnover, but above all awareness. In Poland, this awareness has increased significantly in the last decade. Of course, this does not happen overnight. In the 80s or 90s, people had completely different priorities – a flat, a car, holidays. Back then, it was hard to expect that someone would decide to spend their savings on a painting just because "art recharges batteries".

And we stopped being afraid of her?

Yes – very well said. We are no longer afraid of art. When I think about my path, I have the impression that 20 years ago many people thought that someone who owns paintings must be a snob, someone from the "high society". Today we can see that this is absolutely not true.

In my case, it was a long journey. Over the years, we have collected a lot of works, but it is worth noting that many of them have increased in value over the last decade. The prices we paid then were completely different from those we pay today.

Finally, what advice would you give to people who are just entering the art market?

I would recommend one thing to all those who are just starting their adventure with art: invest time first, and only then money.

Also: watch, watch, watch. It doesn't cost anything - or very little. Exhibitions, galleries, museums - all you need to do is dedicate one Saturday and instead of sitting at home, just go out and start interacting with art. Talk to people who know about it, ask questions. And only when some internal "click" appears, then you can reach for books, start educating yourself.

It's also good to visit auction houses - they regularly organize pre-auction exhibitions, which are open and free. You can come, see the works up close, feel their importance - and at the same time, even subconsciously, find out how these works are valued, which artists are currently valued. This is very developing.

If someone would like to buy something – it is worth starting with smaller formats, maybe from young artists who are more affordable today. However, the most important purchases are those in which the heart goes hand in hand with the mind.

And one more thing: don't be afraid to make mistakes. The art market is tolerant - especially in the long term. And every mistake is a lesson. They build the identity of a collector - and that's really important.