5 Questions with Toronto-Based Art Advisor Kelly Juhasz

Oct 11, 2024

Kelly Juhasz’s name kept popping up in conversations in and around the local art scene. So, we decided it was finally time to sit down and get to know her better.

As the principal of Fine Art Appraisal + Services, an art advisory and appraisal consultancy offering a range of services for fine art, Kelly serves clients throughout North America. Her appraisal knowledge for personal property is recognized by government agencies, legal firms and cultural institutions throughout North America.

Kelly’s clients are collectors, estate planners, executors and heirs, private owners; insurance professionals, lawyers, wealth advisors and managers; and government agencies, foundations, museums, archives and trusts. And as if that’s not enough to keep her busy, Kelly is also active with legacy services for artist’s estates, provenance research and acts as an expert witness. So, we wanted to know how she does it…

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1AN: First and foremost, as an art advisor, how do you help new collectors balance buying what they love with making smart, strategic investments?

Kelly Juhasz: There is a real excitement and enthusiasm that builds when I’m working with new collectors. But there may also be some fear and perceived barriers. Many people wanting to learn more about collecting may be intimidated by the jargon and scholarship associated with fine art. They may be afraid that they’ll come across as uneducated and uncultured. It’s important not to let these fears prevent anyone from seeing the world in a different way and experiencing the joy that living with fine art provides.

I try to steer clear of the pretentiousness in the art world. One of the art world secrets I share with new collectors is that all they need to have is curiosity and time. It’s important to look at art as much as possible and make real a commitment to do so.

I take collectors to museum exhibitions and art fairs. Another art world secret is to join galleries like the Art Gallery of Ontario here in Toronto for the best opportunities to learn and experience an exhibition with guided tours and lectures.

The deeper one's knowledge, the further the visual impact and confidence to buy strategically. This will help new collectors decipher between buying what they like and buying what they love and making smart financial decisions at the same time.

 

1AN: Makes sense! And speaking of new collectors, for someone just starting their art collection, what’s the biggest mistake to avoid when buying their first few pieces?

Kelly Juhasz: All new collectors will make mistakes. Perhaps the decision to buy was rushed or you spent more than you planned or were able to spend. You feel unsure if you like the work or it doesn’t excite you now that you have it in your own personal space. You might suffer from buyer’s remorse.

Before you buy, ask yourself the following questions:

• Am I feeling pressure to buy from the artist, dealer, family or friends?
• Am I caught up in the moment’s hype surrounding this artist or buying art right now because my friends are all buying art?
• Have I spent enough time learning more about this artist and/or their gallery or dealer, or the characteristics of how this art might gain value over time?
• Do I really love it?

Accept that your tastes may change. As you develop your eye, you may find that what you love ten years down the road might not be anything like what is drawing your attention right now. You’ll see a natural evolution in your collecting habits over time as you narrow or expand what you love in art and how it affects your environment. You’ll make decisions faster and you’ll come to better understand the art, artists and the market.

 

 

1AN: I love that check list of questions. Probably helpful to consider not only for emerging collectors, but experienced ones alike. You work with a lot of high-net-worth and developed collectors. What’s one thing people might be surprised to learn about how they approach collecting art?

Kelly Juhasz: Art, for a private collector, is firstly an emotional experience. I find it exciting to work with prominent collectors because they are so passionate about their collections.

Secondly, experienced collectors are extremely knowledgeable about the art market and the artist’s they collect. I enjoying working with collectors who trust their instincts and do not follow what everyone else is doing. Others try to follow what they are doing so I also appreciate their privacy and quietness in their collecting endeavours.

Most art collectors who have the means to buy art have a lot of choice and multiple collection avenues they can take. They are not afraid to ask questions and take risks on emerging artists while at the same time, continue to acquire the work of established artists that fit into their collection goals.

 

1AN: You’ve been recognized with multiple awards. What moment in your career made you think, ‘Wow, I’ve really made an impact in the art world’?

Kelly Juhasz: I don’t think that I’ve made an impact in the art world. It’s more like, the art world has made an impact on me. I feel lucky to have found and honed a profession that is vibrant and continuously evolving. I learn new things every day and what I learn builds upon a body of knowledge that is always in practice. So, there isn’t one moment in my career that I can pinpoint. It’s every moment in my career as an appraiser and advisor that makes an impact.

For all fine art professionals, the continuous pursuit of connoisseurship is a way of life. It’s all our time, training, and experience coming together. It’s about our ability to distinguish quality from quantity, as well as our intuitive response based upon pattern recognition and ongoing work in providing meaning to both enthusiasts and collectors through exhibitions, market awareness and building collections.

Each work of art requires my undivided attention. As a result, all of my clients receive that undivided attention as well. They rely upon me to provide a valuation or advice that is top-tier and so, I allow myself to get lost in the details.

 

1AN: With Toronto’s art scene constantly evolving, how do you stay ahead of market trends to offer the best advice to your clients?

Kelly Juhasz: Like the diverse cultural makeup of Toronto, the local and national art market has certainly widened its scope in offering a selection of fine art available to collectors. With art-centred fairs and festivals, that include Art Toronto and the Toronto Biennial of Art, and commercial galleries offering art by new and established artists, I look at what is being shown. I pay close attention to what the museums are presenting and how they are building their collections.

My work is international. I’ve developed a network of highly trained and experienced advisors, appraisers, dealers and curators here in Toronto and across the country but also within the United States, particularly in New York and Los Angeles. I get involved with other professional service organizations to allow me to stay on top of what the trends and issues are in insurance, charitable giving and estate planning.

I stay informed and connected by developing my knowledge and skills by taking a wide range of professional development courses offered by reputable institutions and associations. Luckily, a lot of learning can occur online and if I’m taking a course from London, then I’m up and online at 4 or 5 am. For art, of course, seeing it in person is always the best so travel is certainly an important aspect of my life.

Because I am also involved in the sale of fine art and represent my clients at the most appropriate market levels depending on the artists involved, I’m constantly watching what’s being offered for sale and the results at all the major auction houses.

I guess you could say that I’m not a bystander or a spectator, but someone who is actively engaged in the fine art market from every angle and level. I love sharing what I learn and know with my clients.

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