Module 1

Understanding Best Practice in Art Advisory

As a professional art advisor, your role is to provide unbiased advice to your clients. What does that mean and why is it so important? For example, how does the art world compare to other industries, like the heavily regulated financial services industry?

We will propose a fee structure that is fair and transparent to your clients but at the same time profitable for you. We will discuss which types of projects might make sense for you to take on from a financial perspective, and which not. We will also discuss how to recognize, avoid and manage conflicts of interest.

Module 2

Business and Legal Issues for Art Advisors (Risk Management)

In order to better understand best practice in art advisory, we also have to address the legal aspects of the relationship between an art advisor and their client.

How does the law of agency apply to your relationship with your client and what does the term fiduciary mean?

And, as much as you are an advocate for your clients, you need to protect your own interests, too. How do you vet prospective clients and what are the right questions to ask?

Following on from Module 1, we will discuss your potential legal liabilities as an art advisor and how you can mitigate risk through carefully drafted agreements and insurance.

Module 3

Effective Marketing Strategies for Art Advisors

In this module we talk about understanding the industry you are in, how it is changing and how technology will affect your business over the coming years.

We will also touch upon the challenges associated with marketing a service business to a discerning, international clientele. As an art advisor you’ll market your services in person, supported by your online presence.

We will discuss the importance of a strong brand for your art advisory business and how to set up and maintain an effective online presence. We will share proven digital marketing strategies to help you grow your business.

Lastly, we will provide you with a framework for developing your pitch to potential clients and referral sources and advise you on how to build a lasting network for access to private sales opportunities.

Module 4

The Many Aspects of the Acquisition Process

It is paramount that you understand your role in the acquisition process. Whether you are advising your client on a purchase at an art fair, at auction, a gallery or an artist studio, each acquisition requires its own approach.

We will suggest an approach for each, taking into account whether you are working with experienced or new collectors. We will also give you hands-on pointers on how to critically assess contemporary art from a value perspective.

Lastly, we discuss the importance of resources: at what points in the purchase process do you need to obtain advice from experts on issues like sales and use taxes, import and export matters or provenance/title concerns.

Module 5

The Sales Process in Detail

When advising your clients on the sale of an artwork or collection, your role is to get them the best possible deal. This is not just a matter of obtaining a satisfactory sales result but also keeping sales cost to a minimum.

Each artwork requires a unique sales strategy. Client expectations need to be managed. How do you orchestrate a consignment at auction? How do you sell an artwork privately? We will discuss the factors that determine the outcome of a sale, including potential tax liabilities.

Ask the expert

Interactive Q&A

You are invited to participate in an online discussion between your colleagues and the course speakers, in which you can share your experiences and ask questions. Please note that participation is not mandatory to earn your Certificate.