As the contemporary art market expands, so is the role of art advisors. Art advisors roles involve highly skilled services that are not limited to advising clients on buying works of art. Their role involves market research, advising clients on logistics, insurance options, conservation and restoration, collection management, and maneuvering an ever expanding art market, both in terms of the number of artists and the geographical range.
Until fairly recently, contemporary art was perceived as a high risk investment and only a small group of collectors were willing to only focus on acquiring contemporary art.
This has changed. According to the Art Basel and UBS Art Market Report, the contemporary sector of the art market “is now by far the largest in the market by value and the most popular for new and established art buyers”. According to the report the market “tends to accentuate the focus on a small number of artists whose prices get driven very high, while others that are equally interesting and talented don’t get the same attention. And then, because everyone’s buying them, they get reported on more and it becomes a cycle.”
With the market expansion, the role of art advisors has become more complex. As an art advisor, my role is to help my clients build bespoke art collections, and not follow what some other successful collectors are doing or the market trends.
To diversify an art collection, it is equally important to invest in overlooked and undervalued artists, than it is to collect brand-name artists. This is where as an art collector, you will find value. And while highly rewarding, buying contemporary art also requires a lot of time and research, focus, dedication and a willingness to take some risk. Which is why, working with an art advisor makes the most sense and will ultimately reduce your risk when collecting contemporary art. Art advisors solely work with their clients best interest in mind, do the research before recommending acquisitions, know the players and do not solicit or accept financial compensation that creates a conflict of interest. To learn more about my services and how we can work together, contact me.
This post was published on LinkedIn at: https://www.linkedin.com/posts/estelle-fournier-art-consultant_artadvisor-artmarket-artcollecting-activity-7064589674085769216-F6fE?utm_source=share&utm_medium=member_desktop
