Rather than focusing on one particular artist, Michel Witmer, an entrepreneur and art collector in Palm Beach, recommends that beginning investors look for pieces that are undervalued.

Art & Soul is in its 13th year, and touted as one of the nation’s largest public-voting cash-awarding art contests. Artists are competing for $55,000 in prize money this year.

The May family — Alex and Tasha, their 12-year-old son Drake (kneeling), and their nephew, Devin (standing) — poses with supplies gathered from funds raised in last year’s Art and Soul ...