The best chance of identifying the next Damien Hirst is to establish relationships with galleries and dealers who have successfully nurtured and promoted emerging artists, as well as visiting contemporary art fairs and museums.
Sourcing artists responsible for pioneering new trends can be extremely rewarding financially. For example those who identified Chinese contemporary as a new trend where rewarded for their prescience.
Purchasing pieces from such artists needs to be done selectively - distinctive of that artist's characteristic style and a quality piece of work. It is a big mistake to buy poor quality doodles from big names. The productivity, trend leadership and promotion of that artist is also very important.
Most importantly, once you have developed your instincts, do not underestimate the intricately detailed intelligence stored in human emotion, with the above in mind. Always buy what you love!
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