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It’s no secret that things are feeling a bit nervous in the economy. From high inflation to talk of a potential recession, it seems that a lot of people are getting anxious. That kind of talk makes it hard to feel confident when you are doing any kind of investing. And if you are buying art as an investment, it’s really no different.

Even if you are buying art as a collector who simply loves the beauty of a piece, it can still be unsettling to buy things up when you aren’t sure what tomorrow will look like economically. After all, buying art can become expensive, and when there might be a recession just around the corner, one wonders if that money wouldn’t be better spent somewhere else.

So on a certain level, this isn’t the easiest time to go around shelling out your cash for artwork. But you might be surprised to find that, in other ways, it can be a fine time to collect. Let’s look at a few of the burning questions going on among collectors right now and see if we can give some answers that help you navigate these times.

Is art recession proof?

The major question people ask themselves at a time like this is whether or not art is “recession proof.” If it is, maybe holding on to a bunch of artwork right now is fine. If not, how are we supposed to be buying art when a recession might hit? Now, that is a complicated thing to understand. First of all, there is no standard meaning of the term “recession proof.” It can mean different things to different people. But for the most part, it means an asset that performs better than most others during a recession.

So, is art one of those assets? Yes and no.

For top blue-chip artwork, there can still be major bidding frenzies and high prices even in the worst of economic times. So if you are selling Basquiats and Picassos, there’s no need to worry. But what about the rest of us?

Much of the primary and secondary art market will see prices go down during recessions. That’s because all that discretionary spending on art dries up pretty fast. Lowers prices aren’t all bad. They are a benefit to collectors, for instance. You can get a lot more art for your dollar during a recession while also giving funds to the galleries and artists who keep the art world turning.

All this being said, prices do seem to go down less in the art market than in others. On top of that, prices can fall unevenly across categories. 2008 was the single worst year for the art market on record. But even then, Impressionist and Modern Art prices only went down slightly. If you remember what happened in 2008, you’ll recall that other investments, namely stocks, took much more brutal hits.

But here, you might just be seeing the basic dichotomy rear its ugly head again: major blue chip art is more resilient while lesser known and unproven work can’t hold onto its price as well.

Is it risky to buy artwork right now?

The great thing about art is that it actually provides value outside of what you can recoup as an investment.

When an art collector purchases work, they do not have to worry if it will definitely make them money down the line, because it will be a piece of artwork that they can enjoy no matter what. You can’t buy a stock and simply hang it on the wall and admire it — if it doesn’t make you money, it has no value to you.

That means that when we talk about “risk” with buying art, we need to define our terms. Will the art you buy today all of a sudden have low resale value in a week or a month? It might go down significantly, but that’s only a problem if you want to sell it in a week or a month.

This is something that has made art such a beloved asset for such a long time. It weathers the storms of recession rather well, all because it has far less pressure on it to make money. That ends up slowing down supply during a recession — as people find it easier to simply not sell while the market looks weak — and that ends up keeping prices from falling through the floor.

In short, it isn’t any more or less risky to buy art right now as long as you are doing it for sheer enjoyment. If you are buying strictly as an investment, you will have to assess your own taste for risk.

How do you go about buying art right now?

During a recession, it is probably wise to increase caution around major purchases and the decision to sell work. But the general rules remain the same. Fundamentally, if you can easily afford a work of art that you love and want to take home with you, that math still checks out.

If you are wanting to offload work you own, it might not be the best time, especially if art world prices begin to fall. There’s no harm holding on to things through the slow times.

Keep optimistic when it comes to buying art

No one has a perfect working crystal ball, but many people are reading the tea leaves and seeing economic trouble on the horizon. Whether or not that comes to pass, buying art doesn’t have to become a terrifying prospect.

As long as you keep the fundamentals in view, you’ll be fine. And always make sure that you buy art you will enjoy for many years without needing to resell right away for a profit.

And remember, the more collecting you do through a recession, the more you directly support the artists and galleries that make the art world possible.

The art world is a wonderful place, filled with enthusiasm, interesting ideas, and that effervescent spirit of creation. But it can also be complicated. Very, very complicated. That’s why it can be very beneficial to get the assistance of an art advisor.

We are living through the most diverse, byzantine art market ever. There are constantly new big names, changing trends, new materials and styles, and the shifting winds of change in art market preferences.

The more money that an art collector is looking to spend, the more important it is for them to get everything exactly right. Similarly, many art collectors just do not have the time to spend at art auctions, getting on the phone with galleries, and scouting the best new voices.

That’s when an art advisor comes to the rescue.

What’s An Art Advisor?

An art advisor will help their client do all of the above and more. For their troubles, they will either be paid a commission on every work of art purchased (say, 5-10% of the original price), or they will be paid regularly (say, monthly).

This might seem like a middle-man at first, but they play a vital role in the art market. They demystify art for their clients and give them a clearer understanding of how the market works. They also connect those looking to sell art with those looking to buy.

While most art buyers are never going to spend enough money to justify paying an art advisor, those who will often find their services essential.

Let’s look at the primary features and duties of an art advisor below.

Education and Qualifications

As with any profession, art advisors need some kind of credentials if they are going to be charging clients for their knowledge and savvy in the art world. There is no clear credentialing body in the world of art advising, and each art advisor will likely bring their own unique education and experiences to their role.

This is why One Art Nation created our Art Advisory programs. No industry-wide standard exists for best practice and advisors are left to their own devices when it comes to navigating the idiosyncrasies of the art market. Art Advisory 101 and Art Advisory 201 have been created to cover the key aspects of running a successful art advisory firm from how to navigate the art world and run a successful art advisory business to following best practice and managing client relationships.

Almost always, an advisor will have an education of some extent related to the art market. Art history is a common education track. But a degree alone is not likely to get many clients. Most advisors will have extensive experience working in the art market, whether as a gallerist, as a curator for a museum, or for an auction house.

This experience gives them a rich web of personal connections, good instincts, and a working understanding of how these institutions and businesses work from the inside out.

Consultation with an Art Advisor

One of the most basic ways an art advisor can serve their client is consultation on a piece-by-piece basis.

When an art collector is interested in a work, they might want confirmation about a few things. Is the price fair? How can I tell if the provenance is real? Is there a different piece that is available and is superior to this one?

Those are natural questions if you are about to spend serious money on a work of art. An art advisor can answer these questions and put the mind at rest.

In this same vein, art advisors can be more proactive in consultation. With a set budget and clear ideas of their client’s tastes, they can find available work that matches these terms. This saves the buyer a lot of leg work, which is crucial for the art lover who always finds themselves busy.

Keeping the Client on Track

When are collectors are looking to build a serious collection, there are many factors to consider to do it right. Unfortunately, most people with the resources to build a collection do not have the time to become experts in a niche of the art world.

Art advisors can help their clients stay focused on the pieces for sale that will build their collection and create synergy between the pieces.

And given that a particular collection has a narrower field of artwork to pick from, an art advisor will also spend their time on the lookout for buying opportunities.

An art advisor will be expected to keep their finger on the pulse of the market, know what is becoming available and where, and have the deep reservoir of specialty knowledge to make all of this relevant for their client’s collection.

Representation at Auction

Auctions can be intimidating places. For the uninitiated, they can come across as chaotic places where bidding wars lead to price tags in the tens of millions.

And that’s not untrue. But the fact is, auctions are great places to buy art.

A good art advisor will be at home at an art auction. They will come armed with research on everything going on the block. Art advisors will know the intricacies of bidding. They will even know some of the other bidders.

For these reasons, art advisors will often represent their client at art auctions. With their connections and knowledge, they can maximize the value of their client’s budget.

Making the Connection

It’s who you know — it’s an old saw that fits the art market very well.

In some markets, there are so many prospective buyers and so little product that the only way to get your foot in the door requires a connection to the seller. Art advisors, with their experience in the field, can be representatives for their clients — leveraging a contact list built over a career.

Why Art Advisors

Art has value. Of course, you can see that in the price tag, but more importantly, you can feel it when you look at it.

But that value can’t be measured precisely, especially if you are looking to purchase art that will maintain or increase its monetary value. There are clues: the artist’s name, the projected market demand for the style, etc. But those aren’t laws of nature, and there are no guarantees.

To make matters more complicated, there is an enormous amount of specialist knowledge and insider connections required to really succeed in building a great art collection.

Art advisors provide this incredibly complex service. They have to bring many traits and specialties together, but when they do, they unlock the door to amazing art. And that’s a service many art buyers are willing to pay top dollar for.

 

 

 

 

 

 

 

The Venice Art Biennale: The Milk of Dreams

Barbara T. Hoffman, Esq.*

The 59th edition of the Venice Art Biennale, under the title of “The Milk of Dreams,” opened to the public on April 23 – November 27, 2022. The exhibition takes place in the Central Pavilion of the Giardini and Arsenal. There are also 88 National Pavilions throughout the city. The curator Cecilia Alemani, the first Italian woman to curate the Venice Art Biennale, responds to the convulsions of our time: Covid 19, climate change, disruption of war, loss of community and culture – by asking us to imagine new forms of co-existence with society and its social structures, technology, and nature: how is the definition of the human changing? What constitutes life and what differentiates plant and human? What is the human relationship to technology?

In an interview, Alemani stated:

“There is a lot of spirituality in the show, especially in the historical micro-exhibitions, which I call ‘time capsules’.

One of the pillar themes is the “post-human” inspired by authors like Donna Hardway, who challenges the idea of the individual being at the center of the world. These ideas are about imagining other kinds of relationships, rooted in togetherness and symbiosis.

At Venice Art Biennale, I was looking at artists who were trying to break with the familiar polarities and dualities that came out of the Enlightenment – mind and body, nature and culture, feminine and masculine and so on – to imagine a world that is more fluid and in-between. That is where the occult and the spiritual come in.

The Milk of Dreams takes its title from a book of Lenore Carrington (1917-2011) in which the surrealist artist describes a magical world, which is constantly reenvisioned through the prism of imagination where everyone can change, be transformed, become something or someone else.”

Alemani states, “In this climate many artists envision the end of anthropocentrism… Others react to the dissolution of universal systems, rediscovering localized forms of knowledge and new politics of identities. Still others practice what feminist theorists call the ‘re-enchantment of the world’, mingling indigenous traditions with personal mythologies in much the same way as Carrington.”

Notwithstanding, it is a paradox that Alemani’s focus remains so rooted and anchored in the Western paradigm: the individual artist and the power of art and the artist to help “us” (the viewer) imagine new modes of co-existence and infinite powers of transformation. Alemani’s curation is brilliant, well researched and the source of new discoveries. Women artists of all generations dominate and others without voices are heard. However, spirituality and magic did not start with the Surrealists. Alemani’s focus is on adding overlooked artistic voice and identities to broaden the western aesthetic canon.

Images from Milk of Dreams Illustrate Alemani’s Curatorial Perspective at Venice Art Biennale

 

documenta fifteen

Founded in 1955 in Kassel, Germany, documenta is a quinquennial international art exhibition that carries heavy intellectual weight in the art world, customarily programmed for a duration of 100 days in venues throughout Kassel. While held in high regard among artists, curators and institutional directors, perhaps less so among collectors and dealers given its often more academic, intellectual and less market-friendly nature. Normally, the artistic director is a well-recognized international curator: Adam Szymczyk (14); Catherine David,Pompidou Paris 1997 (10); and Okwui Enwezor 2002 (11).

Breaking with this tradition, documenta fifteen poses a radical artistic response to the world’s crisis, at first encounter, a seismic shift in envisioning not only the role of the site and the exhibition, but the very role of the artist and the systems of art production. documenta fifteen is not theme based. It is about process and practice: how do people create the material and immaterial infrastructure they need to nurture and sustain themselves and their ecosystems?

documenta fifteen takes place from June 18 to September 25, 2022, under the Artistic Direction of ruangrupa at 32 venues in Kassel, Germany. The Jakarta-based artist collective has built the foundation of documenta’s fifteenth edition on the core values and ideas of lumbung, the Indonesian term for a communal rice barn.

 The Indonesian word ruangrupa loosely translates as “art space.” ruangrupa’s work is based on a holistic social, spatial and personal practice that is strongly rooted in Indonesian culture, where friendship’s solidarity and community are of central importance.

lumbung as an artistic and economic model is rooted in principles such as collectivity, communal resource sharing, and equal allocation and is embodied in all parts of the collaboration and the exhibition. lumbung is the concrete practice adopted by ruangrupa and the Artistic Team, lumbung members and lumbung artists and all participants on the path towards documenta fifteen, throughout its 100 days and beyond.

“We want to create a globally oriented, collaborative and interdisciplinary art and culture platform that will remain effective beyond the 100 days of documenta fifteen. Our curatorial approach strives for a different kind of collaborative model of resource use–in economic terms but also with regard to ideas, knowledge, programs and innovations.” – ruangrupa

The artist is seen as mediator, and “now we are looking back and asking, ‘what is harvest?’”

14 lumbung members or artists collectives and 53 lumbung artists participate in documenta fifteen. In turn, these artists have been to include their networks.

ruangrupa and the artistic team are aware of the paradoxes in this event. In documenta fifteen, lumbung is still approaching the economy using old paradigms. documenta fifteen is still using the language of and can be understood as a conventional/mega event despite the artistic attempts to approach it as more bottom up. Notwithstanding, the aim here is ultimately the community,ruangrupa stated “lumbung is not only ours now… Own it, and make your own lumbung – ultimately, then, the energy and power of becoming and being is transmitted by the artistic experience transcending the boundaries which divide us to connect us in spirit. The practices and methodology are different.”

Thus, in the opening press conference, the artist Agus Nur Amal PM Toh informs us of his project with students in Kassel which facilitates a series of storytelling sessions based on the Sudanese life principles, Tri Tangua: “Public space contains a multitude of narratives, all competitions for how they can function as truth within the context of an authoritarian state or one where the powerless have no media access, native histories become a site to find answers.”

documenta fifteen takes place in three geographic zones of Kassel: (1) Mitte, the central city part – museums, Fridericianum***, documenta halle***, WH 22; (2) Fulda – Hafenstrasse 76 and (3) Bettenhausen*** – The Fondation Festival Sur le Niger*** (Hubner-Areal) and Atis Rezistans | Ghetto Biennale *** (St. Kuniqundis).

*** Don’t miss these.

Fridericianum (Mitte)

For the duration of documenta fifteen, the former exhibition building has become Fridskul (Fridericianum as school) and is being used by artists and collectives to apply and demonstrate different models of horizontal education that are rooted in life. ruangrupa see it as a – a practice of sharing and a form of architecture often used to store harvests in Indonesian. As a lumbung, as both a domestic place and a social space where all can gather, the cold museum space of the Fridericianum becomes a warm and dynamic place. Artists are sleeping at Fridericianum, eat there communally and hold student encounters at the space.

documenta Halle (Mitte)

Wajukuu Art Project

documenta fifteen advocates for the collective to substitute for art institutions. However, the idea of the collective making individual artworks is more complex and nuanced and warrants further discussion based on each collective’s processes.

Artists in the Wajukuu Art Project have created not only as a collective but as these images reveal, have created powerful works of artistic authorship based on a new aesthetic of the slum and its materials. Wajukuu Art Project’s architectural installation is a tunnel inspired by both Makuru traditional housing and informal aesthetics of the slum. Aesthetic values rest on cultural heritage, cultural attitudes and accessibility of materials.

Britto Art Trust

The Bangladesh-based Britto Arts Trust creates a bazaar, a family kitchen and a large-scale mural all exploring geopolitics, land rights and food.

Bettenhausen

La Fondation Festival Sur le Niger (Hubner-Areal)

At this time of dislocation and social upheaval, global pandemic, the crumbling of our international legal order and its institutions, immigration, destruction of cultures in the wake of globalization, documenta provides guidance. The Fondation Festival Sur le Niger, founded in 2009 by Mamau Daffe and its individual artists, look to traditions, music and social practices as a means of identity and social cohesion.

Performa, the New York performance Biennale introduced in its last biennale the importance of the  role of architecture and architectural space as  an element of  visual performance artists. Traditional Malian culture recognized the bulon as a sacred space and social structure as early as 1653 with the founding of the Mali empire. The Bulon symbolizes the heart, the past, and the present of the family, a place of decision making and community with the ancestors. It is also a space for teaching and transformation. In this sense the Fridericianum also becomes a Bulon space. “True art,” writes Andre Breton, the Surrealist, “is the one that strives to give expression to the inner needs of man and humanity.” While Alemani’s inquiry begins with and credits  the Surrealists, for this new art aesthetic,  documenta fifteen takes us to more ancient cultures. The Maaya is an integral concept of humanity based on the relationship of the individual and the community. This is a convergence of views where the function of art and social practice are the same.

Atis Rezistans | Ghetto Biennale (St. Kunigundis Church)

One of the most powerful installations is created by the collective Atis Rezistans from Haiti. A fluid collective of artists, working in the Grand Rue neighborhood of Port au Prince, Haiti, the collective was founded by sculptors Andre Eugene and Jean Herald Celeau in the late 1990’s.  Coincidentally, my client in the famous case of AFP v. Morel was with Andre teaching art students during the 2010 earthquake that sparked the case that established photojournalist rights on the internet based on the Twitter TOS. The sculptures embody the spirit of the collective – the style derives from popular culture, Haitian history and voodoo using a range of found objects, mostly what is available in this country for artistic production.

There will be those who ask is this a proper role for documenta? This small sized town in Germany of under 250,000, for more than 75 years has provided intellectual content to the art world as an agent of thought and discussion. Could this have been a conference or a symposium? Maybe. But it is a work and experiment in art making that is important. It is, as was said, not the last documenta but the first lumbung. 

The seeds of what is germinated here have yet to fully harvest. However, kernels can be found in artist activism in the U.S as either the practice or a practice of sharing with the community. One has only to look at the number of artist-endowed foundations, the renewed study and importance of archives, and the focus on artist residencies and leisure time, conversations and storytelling. Black Quantum Futurism, based in Philadelphia, is a documenta lumbung inter lokal member represented by three projects sourced in African diaspora, nonlinear temporalities, quantum physics and housing futures as framework.  Numerous artist-endowed foundations supplement individual artistic practice to use foundations as a community-centered artistic practice or to provide artistic residencies for artists to think and reflect.  Derrick Adam’s Charm City Cultural Cultivation Inc. embodies such lumbung themes as the importance of leisure time and conversation and the power of archives as identity to regenerate and cultivate the rich traditions and culture of Baltimore. Its Last Resort Artist Retreat residency subscribes to the concept of leisure as therapy for the black creative, Titus Kaphar’s NZTHVN, provides  an arts model that empowers artists and curators, education and access to a vibrant ecosystem to create a sustainable art community in New Haven. Art as social practice and process – the spirit of lumbung– may not replace  biennales or art fairs, but it is a present and a future and awaits the harvest.

 

Barbara T. Hoffman is a preeminent international art lawyer with an undergraduate degree in art history. She has been a passionate follower of the contemporary art scene for years and a regular attendee at the Venice Biennale since the early 1980’s. She has written frequently on law, art and politics for a variety of publications and is a member of the International Association of Art Critics as well as the attorney for AICA USA. She serves on the Board of Performa, the visual Performance Biennale, found the Washington State Volunteer Lawyers for the Arts and is on MoMA’s Contemporary Arts Council and Friends of Education. She serves on the board of several artist endowed foundations and advises museums and artist foundations on issues of governance, including board development and conflict of interest. www.hoffmanlawfirm.org. Thank you to Faron Stalker, legal assistant.

 

 

Covid-19 pandemic continues to create disruptions in particular for art fairs and galleries. We are now in the process of sifting through its impact and seeing what remains after two years of painful change and loss.

For art fairs and galleries, their entire model was based on in-person experiences. But the field proved nimble, and they began adapting at rapid speed with the use of digital integration.

That digital pivot, along with the meteoric rise of entirely online art ownership through NFTs, have allowed art fairs and galleries to weather the storm. But what does their ongoing survival look like in the years ahead?

Galleries: A Prognosis

The Art Dealers Association of America surveyed gallery owners last year to see how they were handling the pandemic. At the time, things were uncertain to say the least. Among their findings are a few key insights:

• 70% of galleries had less revenue in 2020
• 65% were stilling planning to expand their artist rosters
• 78% did not have to make layoffs in 2020

The overall picture seems less bad than people were predicting when lockdowns went into effect in early 2020. That’s not to say that 2020 saw no furloughs or layoffs for art galleries, or that the massive falloff in revenue didn’t shutter some galleries forever. But coming out of 2021, things are not so dire.

And now in 2022, with vaccination rates up and restrictions easing, the trends seem to be going in a positive direction.

In fact, the move to online sales proved a winning strategy for many galleries, and the fear of massive closures by the end of 2020 appears to have been overwrought.

The Return of Art Fairs

Miami Art Week in late 2021 proved a testing ground for a new trend in art fairs: online augmentation.

The strategy is simple. Implement ways for people to enjoy (and buy) art online without taking away from the physical experience. In fact, while you are creating these digital tools, you might as well make them work with the physical art fair, too.

With Art Basel and many satellite fairs debuting digital sides to their experiences, it feels like the change is permanent. Remember, these were events that were allowed to be held in person and were attended by thousands of people. These weren’t just ways to make things happen in the face of a lockdown.

That combination of physical and digital appears to be the way that art fairs are going to not only keep numbers up during a pandemic, but grow their numbers in the years to come.

But no matter how much digital augmentation goes on, art fairs are uniquely appealing due to the experience of actually being there. For that reason, 2020 and much of 2021 saw an incredibly anemic scene. Yet art fairs have one advantage over galleries: they don’t have to pay the bills month in and month out.

Art fairs are much more capable of surviving a year or two of postponement, while galleries have employees who need a paycheck to survive and consistent overhead to keep their space. In this way, the survival of art fairs is much less precarious than galleries.

Art Investment: The Good and the Bad

Inflation is now ramping up around the globe, which generally means investors will turn to assets like art. In an inflationary situation, the general thinking is that art performs rather well, and that will provide some boosts to the art world, at least at the top levels and in the short term.

The continued interest in art as an investment has good and bad influences on galleries and art fairs, depending on where you land on the spectrum. Gambling on emerging voices rarely does much for artists trying to establish their name in the long run, but there are some galleries that can serve this desire while still developing their roster of artists in a responsible way.

And with lots of investment dollars comes lots of speculation. This is nowhere more clear than in crypto art and NFTs. These marketplaces are now hotspots for collectors of all kinds.

Is that a problem for traditional art fairs and galleries? That depends. Many people buying NFTs are first time collectors, drawn in by their interest in other blockchain applications like cryptocurrency. In a way, NFTs might be a backdoor for more people to become comfortable with buying art as an asset and making the move to buying physical art.

On top of that, many traditional art sellers (in particular auction houses) aren’t waiting around to get involved in the NFT boom. This presents a new avenue for sales, and as long as it doesn’t eat into their traditional offerings, this embrace of NFTs seems like it could be great for galleries and art fairs.

Art Fairs & Galleries Endure

It seems that art fairs and galleries have made it through the worst that the pandemic had in store, and their ability to meet customer needs online was successful.

While the art world is emerging into a much different landscape than before Covid-19, it is well equipped to face the new challenges and even find opportunities in them.

We sat down for a chat with Subkit, who were interested in hearing about our entrepreneurial journey in the art world. Here’s how it went…

What’s your business, and who are your customers?

One Art Nation (1AN) – www.oneartnation.com – is THE trusted source of online art market education across the globe. We initially targeted the platform towards emerging collectors and art lovers looking for the basics of collecting. It soon became clear that our membership included established collectors as well, who were seeking information on succession planning, donating collections to non-profits, etc.

Therefore, we recognize and work with the best-of-the-best in the industry to create relevant content that demystifies the art world and empowers collectors and professionals. Through working towards transparency, we increase the confidence in the art-related decisions of our members. And best of all, our growing library of 200+ on-demand videos is available free to art lovers and collectors in all corners of the world!

Further, our Professional Development courses offer all types of professionals with the right tool kit when it comes to art and art-related practices. For example, our Art Advisory 101 and Art Advisory 201 programs act as a much-needed benchmark for art advisors, offering them best practice techniques in their field. Meanwhile, our Art Wealth Management course offers wealth managers, private bankers, family offices, and other financial advisors a true understanding of how the art world operates. It is the only active and accredited continuing education program that focuses solely on art wealth management.

Tell us about yourself

We have been friends since high school, and although our studies and employment brought us to separate corners of the world, we always remained close. When we both returned to Canada after many years abroad, we sat down over a glass of wine, and voila! The idea was born. We came about it quite organically, as we recognized a dire need for accessible information for art collectors. The art market is known for its complexity and lack of transparency. For those just getting into the market, it can be quite intimidating. So, we wanted to help educate both aspiring and established collectors in an interactive yet non-threatening environment. And in 2013, at Art Miami, we officially launched One Art Nation.

Regularly, we hear from art lovers how, by nixing the jargon and cutting out the intimidation factor, One Art Nation has fueled their love for art via our accessible and relevant education. And just knowing how much we would’ve appreciated such a resource when we first aspired to collect keeps us going each day.

What’s your biggest accomplishment as a business owner?

1AN has a reputation as THE go-to source of quality online education. We create content that is both diverse and engaging, equally for first-time buyers, established collectors, industry professionals, and generally, those with a passion for art. As such, we have built a strong community with a common interest: ART. We are very proud of this.

Further, we have partnered with some of the most influential companies in the industry, including Art Miami Productions, US Trust, Deloitte, Chubb Insurance, Bank of America, Bonham’s, OCAD, and more. We have been helping leading professional associations and businesses bring relevant art market education online for eight years now. And we have earned our reputation by providing leading-edge technology, unparalleled service, real-world experience, and unwavering commitment to the success of the 1AN Community, whether art expert or art collector.

What’s one of the hardest things that come with being a business owner?

Our biggest challenge, which many business owners can relate to, has been the pandemic, as we were forced to adapt quickly to the unprecedented crisis. As business owners, our survival instincts kicked in to navigate the unknown waters of lockdown over the past two years, from canceled projects and art fairs to adjusting to the loss of partners (galleries, artists, etc.) being forced to shutter. But at the same time, it provided an opportunity to get creative. For example, we formed a new academic partnership, a direction we may not have ventured in pre-pandemic. We also took the time to relaunch the website, with a strengthened focus on our incredible network of art experts and professionals. So although we weren’t chasing art fairs from New York to Miami to the Hamptons and back, we managed to not only stay busy but even to strengthen our position as a trusted resource in the art market.

What are the top tips you’d give to anyone looking to start, run and grow a business today?

To start, know that there will never be a right time to start a business, so don’t wait for it. But you can either look at that as the thing that holds you back from starting or use that to push you to go for it – asap, immediately. Be realistic with yourself and your business. Initially, we approached One Art Nation with a sense of false optimism. We were so excited to start making our mark, but we soon realized that in thinking we were going to dominate the art world on day one, we would be failing in a matter of months due to drastic disappointment. Instead, it was clear that the new keyword was: perseverance. And then the key to perseverance is not to lose that excitement we had on day one.

And hand in hand with excitement, have fun with it. We’ve both had lulls over the years when we’ve forgotten to have fun with the business. We’ve gotten bogged down with details with a risk of burning out. But we’ve learned to recognize this in ourselves and each other. At that point, we’ll take immediate action to see an exhibition we’ve been meaning to attend at a local museum or run over to an opening at our favourite gallery where there’s sure to be wine, music, and industry contacts to catch up and laugh with. When you don’t have any fun with the business, you run the risk of losing your drive and failing at your goals.

Read the original interview, as published by Subkit, here.

When we imagine an auctioneer, we think of a rapid-fire talker throwing out numbers in a fast paced atmosphere.

And for many auctions, that’s fairly accurate. Many auctions do run at a fast pace, encouraging bidders to get in while the getting is good. The auctioneers will also follow a “chant” — a sonorous rhythm that their fast talking sticks to.

But those kinds of auctioneers don’t quite capture what an art auctioneer does, because art auctions are a world of their own.

We know them mostly for the shocking numbers that appear in headlines every six months or so as a big name auction house breaks a record. But if you have ever attended one, either online or in person, you know that these are much less high energy than an auction just about anywhere else.

Because an art auctioneer is so close to the action and involved so closely with wonderful works of art, many people might be curious about how to become one themselves.

If you are wondering about it yourself, you’ve come to the right place. Below is a short guide on how to become an art auctioneer.

What Skills Does an Art Auctioneer Need?

Before you try to snag a job as an auctioneer, you need the skills in place to succeed. The main skills include:

• Art expertise
• Salesmanship
• Performance

As an auctioneer, you are expected to have an intimate understanding of the value of work being sold on the block and the context that makes it worth the money you are trying to sell it for (auctioneers usually get a percentage of the sale price, so the higher they can get the bids, the more they are paid).

That usually means art auctioneers are experts, typically with an art history degree of some kind and a specialized area of expertise where their knowledge is much more comprehensive.

No matter how educated you are, you’ll still need to do prep work before you step up to the podium, refreshing yourself on all the details. That knowledge can be for flavor, like providing just the right information to get bidders ready to drive up the price, but it can also be highly practical. Imagine the embarrassment of an auctioneer who mispronounces an artist’s name!

As a salesperson fundamentally, the auctioneer also needs to understand a lot about the room they will be running. Are there any known bidders who will attend? What things do they particularly like? Are there any bids on items already? What is the estimated sale price? What is the minimum price for each item? This helps the auctioneer in the heat of the moment finagle the best price for the work.

And a lot of that salesmanship comes down to performance. When you are at a podium in front of a group of people, you have to perform. From colorful attire to your auctioneer chant to your gestures to the way you emphasize certain words, it all can make a difference.

Part of the performance? Endurance. Auctions can carry on for hours.

What Does an Art Auctioneer Do?

The skills outlined above are put to use in every duty that an art auctioneer has to carry out.

Long before anyone picks up a paddle, the art auctioneer is already hard at work with tasks like:

• Appraising the work that will go for auction
• Maintaining the auction catalogue
• Gauging interest of potential attendees, marketing the auction, and connecting with people

These tasks put everything in place for the big day. Knowing what will be for sale, the value of the works, the minimum prices that the seller might have set, and the estimated sale price give an auctioneer a good idea of their goals and the kind of buyers who would be interested in attending.

The auction catalogue is where a lot of this information is presented to attendees. This coincides with displays of the artwork that attendees can visit before the day of the auction — a universal practice for the big houses where things sell for millions of dollars.

And with an auctioneer’s understanding of the art world and the big art buyers likely to attend, they can market the auction to potential buyers. Because an auctioneer gets a cut of the sale price (somewhere between 10% and 15%), it is in their best interest to get the biggest bidders they can into the room on the day.

On the day, art auctioneers will:

• Be the host and emcee of the auction
• Introduce and describe the lots (items up for auction)
• Track and announce bids for the room
• Decide when to call a winning bid with the strike of their gavel

These duties are the first thing you think of an auctioneer doing, and these are the meat and potatoes of their work. Ultimately, no matter how well you research or how much you network with potential buyers, it all comes down to how you handle the auction.

How do You Get a Job as an Art Auctioneer?

Starting out, many aspiring art auctioneers begin doing internships and entry-level jobs in the art industry. At the beginning, any experience is usually a good experience, but some jobs are better than others.

If you can gain an internship at an auction house, you will have high quality experience to prepare you for the world of art auctions. If that’s just not possible, make sure to attend them frequently. You don’t have to bid to watch. And with all that time spent at auctions, you can get a sense for how an auctioneer performs in the room, then you can go back to your apartment and practice in front of the mirror!

Jobs, internships, and apprenticeships in galleries, art conservation, and auctions are all good options.

And once you feel comfortable in the art world, it’s time to attend auction school. A good auction school will go beyond the nuts and bolts, including guidance on the more difficult aspects — like tax, law, and ethics.

If you plan to work in a state that requires auctioneers to be licenced, auction schools can help you with this process, too.

If you feel highly qualified, you can also shoot for one of the big houses. Christie’s, for instance, holds an auctioneer school every two years, accepting only 40 applicants. Of those 40, two or three will progress to private instruction and careers as art auctioneers at one of the most prestigious art institutions in the world.

An art auctioneer is a vital part of any art scene, with the responsibility of realizing the best price for artwork. Their work is difficult and valuable, and if you think you are up to the task — it’s a great career. Want to read more, check out how to buy art at an auction.

Art dealers buy and sell artwork. That was easy, but as you might expect, there is more to it than that.

The art market can get complicated. It deals in one-of-a-kind works, things that can’t be replicated. If there is a painting you want, you can’t necessarily go to a store and buy it. If someone else owns it and they aren’t selling, you are out of luck. And while there might be paintings that are similar, there isn’t going to be another painting just like that.

And it isn’t always easy to find where a painting is for sale or know what paintings are available to purchase at any given moment.

To make matters more difficult, art can also cost quite a bit of money, and its value goes up and down over time. And whenever people are putting down a lot of money for something that might change in value, they need to be sure that they are making a smart move.

So to get the art you want, you need to know what art is available. That means needing to have your finger on the pulse of all the many sellers of art at a given time. You need to know people, you need to have connections, and you need to have the expertise to know when a purchase makes sense on the money side and when it doesn’t.

That’s a lot for someone to do well as a hobby or side hustle. It’s the kind of thing that takes an expert. And that’s really what an art dealer is: they are an expert buyer and seller of artwork.

What Does an Art Dealer Do?

So what is the day-to-day of an art dealer like?

Art dealers:

• Network and connect with artists and other art sellers and buyers
• Work with clients to buy and sell for them
• Research the market
• Buy and sell artwork

First and foremost, an art dealer networks with others in the art world. Their career is one of making connections with people who might be buying and selling artwork. Artists, gallerists, museums, private collectors, auction houses, and more. Anyone who is buying and selling a lot of art.

They also need to network with clients. An art dealer will often procure work for others, anticipating their needs and the market at the same time.

On top of networking, art dealers need to be on the lookout for art. But that is such an enormous field that they will typically have a specialty. For instance, an art dealer might focus exclusively on a single genre, style, region, or period. This allows them to narrow their search and become experts.

A lot of an art dealer’s time is spent going to art fairs, galleries, auctions and other venues where they can find work and connect with artists, art buyers and other specialists. This element of searching for art is one of the most attractive parts of the art dealer’s lifestyle.

These activities feed into the main one: buying and selling art.

When an art dealer purchases a work, they are looking to sell it later on. They might own a gallery or have clients that they sell directly to. Either way, they are sensitive to making a profit. Unlike other art collectors, an art dealer isn’t trying to put together a great collection. They are trying to make money on the turn around.

An art dealer will typically have a thorough understanding of the work in their field that is available, and they will make decisions on whether or not to buy these pieces based on market demands, likely changes in price, and similar factors.

But art dealers also serve another role in the art world. As major patrons of the arts, they often take a lot of responsibility for fostering the marketplace — promoting new voices, bringing artists together, and connecting people. This ensures that the art world thrives.

Art Dealer Qualifications

There is no official certification you need to become an art dealer, though many have an education in fine art or art history (more rarely, art business). Many are, or have been, artists themselves.

Good places to begin gaining experience are in entry-level jobs at galleries. Here, you can gain a sense of what to look for in paintings, and you can start building relationships with people in the art world.

An art dealer must always be apprised of the current mood in the market and the trends just around the corner.

That means art dealers go through an ongoing education throughout their careers, with their main qualification being their understanding of the market. But this understanding can’t be merely intellectual. They also need a keen eye for art and that intuition to trust a discovery that they make.

When someone can merge that intellectual understanding and intuitive feeling with a web of interpersonal connections in the art market, they have all the makings of a great art dealer.

How Do You Work with an Art Dealer

Artists and art buyers work with art dealers for obvious reasons. A dealer can be the connection an artist needs to get their work into an important exhibition or collection. For a buyer, a dealer means access to an expert’s curated collection that they can purchase from.

You can find art dealers by frequenting galleries and asking for information or visiting membership organization websites like the Art Dealers Association of America (ADAA).

This will get you in contact with art dealers who may or may not have space for a new artist or client. They may, they may not — but it doesn’t hurt to ask.

Art Dealers: The Facilitators of the Art World

Often, art dealers are working behind the scenes to get galleries new work and help artists reach new heights in their career. Their task is to act as the connective tissue that brings the art world together.

And the great art dealers can be massively influential on the scene. Powerful dealers are capable of setting trends almost single handedly — that’s how important their work is.

Interested in reading more? Check out how galleries are surviving post-covid.

A lot of ink has been spilled over the last year over the changes going on in the art market. And there’s no question that things have changed dramatically.

The pandemic brought about enormous challenges for the art world. From galleries to museums, from auction houses to openings, everyone has struggled.

Obviously, COVID-19 brought online sales to the foreground. No longer able to rely on in-person events and auctions, the art world relied on the new digital tools that have developed over the last several years.

That theme will continue to be a major story for years to come, and it defines all the other trends going on in the market. But other factors are making their presence felt. Let’s look in depth at the ways that the art market has had to evolve over the last year and what is coming up next.

Younger Collectors

Millennials are maturing into an even larger portion of the art market. But what does that mean for artists and galleries?

As digital natives, Millennials feel completely at home with the new digital tools available for finding and buying art. So as their share of the market grows, the friction with online sales will continue to disappear.

But Millennials also bring a lot less money to the table than previous generations.

Remember, this is a cohort that entered a job market rocked by the 2008 financial crisis, and while the economy recovered in some ways, the opportunities for major advancement have lagged behind other economic markers like the stock market.

Student loan debt has also plagued Millennials to a much greater degree than previous generations, especially among those most likely to be purchasing art. This has forced Millennials to put off traditional milestones of adulthood, like home ownersh.

So how do these trends come together?

As Millennials continue to grow as a portion of art buyers, average art prices will likely lower. This is bad news for the few artists and galleries working at the top, but it could spell a lot of opportunity for others.

Especially as these buyers are likely to be engaged in social media, new artists will have the chance to reach out to art lovers and sell directly to them. Younger artists won’t need to take a paycut to sell to these buyers, and they can use free platforms to reach them.

On the other hand, those smaller galleries that typically represent emerging artists will likely suffer for this change.

The Rise of Virtual Art Experiences

Throughout the last five years, many museums have come out with virtual reality and augmented reality experiences to stay relevant to the public.

But during 2020, those technologies have gone from a rare gimmick to gain attention to a vital lifeline between art institutions and a public staying at home.

The pandemic, then, saw a proliferation of these virtual art experiences, with many art lovers trying them out for the first time.

Meanwhile, virtual reality gear continues to lower in price and expand in market penetration. And smartphones are capable of delivering something like a virtual reality experience.

These virtual experiences present new horizons for experimentation and play on the part of artists, as well as new ways for art institutions to engage the public even as they start coming back in large numbers.

A More Collaborative Art Market

In difficult times, people tend to pull together and help each other out. Through 2020, we saw many collaborations between small, mid-size, and large organizations and institutions. At the time, it was a matter of mutual survival. But going forward, will it stick?

Probably.

The new models of presenting art, from hybrid shows to pop-up events, have shown that there are many avenues the art world has yet to explore.

Those new ideas that permeated 2020 might not reappear in the exact same way, most of them were looking to create a contactless way to engage with art, but they will no doubt inspire new experimentation going forward.

Diversity in the Art Market

The push into digital spaces democratized access to art in many ways. It not only made it easier to find and enjoy art, but it also brought artists from both ends of the spectrum onto the same plane.

What does that mean? The art market has had a year to reassess what it wants and who it is looking for. And in that year, diversity in the art market greatly increased.

While the process is slow, it continues to make an impact.

And while the artist side is diversifying, so is the buyer side. In 2020, Sotheby’s reported that their online auctions brought in a lot of never before seen faces, with 30% of their audience being new buyers. And of those, a third were under 40.

That’s a compelling change. These new buyers will likely continue to be engaged with the art market. This block will push the market in new ways, no doubt, changing up trends in the long term.

The End Result

The changes outlined above were not chosen necessarily. They were things the art market had to do to survive, but the mark they leave will persist.

In the crisis, the changes have likely made the art market stronger than before. It was a difficult year, but as things recover, there are now more people making a living through art and buying art. There are more ways to engage with art than ever before. There are more price tiers available to more people. These are all positive changes.

What we might find after the dust settles is an art market that has evolved to be something much stronger and capable of weathering challenges than ever before.

When you begin buying art, you encounter a lot of terminology. One of these is the secondary art market. What exactly is it? And if there is a secondary market, what makes up the primary market?

The simplest way to think of these two markets is this:

• Primary market: when art is sold for the first time
• Secondary market: when art is resold

That isn’t so difficult is it?

But when we ask about the secondary art market, we want to know more than this simplistic definition. As you might expect, these two markets work somewhat differently, and a good collector will have a working understanding of how to navigate both.

The secondary art market includes auction houses, some galleries, art dealers, and even resale websites like Ebay. For auctions, however, there are some exceptions. For instance, Damien Hirst has sold his work directly at auction, making it a primary art market for him.

Generally, people want to buy in the primary market if they can. Why? Because it almost always means you are buying directly from the artist or from a gallery that will hand a portion of the money to the artist. Because you are closer to the source, you usually get a better price, too.

Buying directly from the artist has many benefits. This means less overhead, no gallery retail markup, and you’re directly supporting the artist. But even buying from a gallery offers primary art market benefits, because while you might pay more, a good amount of the sale’s proceeds is still going to the artist.

That all sounds great. It makes sense that people would like to buy on the primary market. And yet, many collectors happily do most of their buying on the secondary market. So what’s going on?

The plot, as is usual for the art world, thickens.

The Benefits of the Secondary Art Market

Some people buy artwork for the sheer pleasure of having great work in their home and office. But for those spending a lot of money on art, they typically have concerns above and beyond if a painting looks good.

A main concern for many art buyers is resale value. Whether they are purchasing artwork as an investment or merely wanting to ensure that they can recuperate the value later on at resale, these buyers want to be more confident in the value of a work and the lasting name recognition of the artists they are buying.

If you think there is a chance you might resell a work of art later on, it’s important that the work will gain or at least retain value over time. And that’s where the secondary art market comes in. Because when you buy from it, you have a lot more information to make an informed decision.

See, when you buy on the secondary art market, you can find work that has a longer history of being bought and sold. That allows you to track the change in value over time. If a painting has consistently sold for more money over its lifetime, that’s good to know.

You also have access to bigger names — most collectors don’t have the connections or resources to buy directly from the superstars of the art world. And if the artist is deceased, then you’ll have a very hard time buying directly from them!

Plus, the secondary art market simply has a lot more work on offer, including almost everything you will ever see in a gallery or at auction.

In short, the secondary art market gives you more work to choose from, and the work you find comes with more data behind it.

But the most direct and practical benefit of the secondary art market remains the breadth of work available, including from artists who are no longer alive. If a collector is interested in work from the past, they will have to buy on the secondary art market.

How the Primary and Secondary Art Markets Interact

A really great collector won’t rely on one market or the other. Instead, they use both for different things, and they can make informed decisions on big art purchases only by taking both into account.

For instance, if an artist is selling their artwork directly, it is likely the best price you can find for it. However, it never hurts to check the secondary art market. You might find that the artist’s pieces are available for much less, it seems strange but it happens.

And as mentioned before, the secondary art market can give you guidance on how an artist’s work fares once it is “out in the wild” for years.

And if you are looking to buy from an artist who doesn’t have much if any work on the secondary market? You can still use it to study how artists with a similar style or recognition are doing.

Both markets are important for the art world, serving their own purposes and carrying their own benefits and drawbacks. But to be effective in one means knowing your way around both.