It is Always Advisable to Choose the Right Art Advisor
Oct 17, 2016
I’m an art advisor – kidding, I’m not. But the truth is anyone can call him or herself one. A qualified advisor is more likely to adhere to strong ethical standards, avoiding thorny issues like conflict of interest. They also handle details like insurers, accountants, and attorneys – as curator of the Hallmark Art Collection, Joe Houston puts it “the unsexy minutia.”
This is where an organization like the Association Of Professional Art Advisors (APAA) is helpful. Because the best advisors will have a deeper knowledge of every aspect of the art purchasing process, including the art itself. Most importantly a great advisor will expose you to work you may not have considered collecting.
Art collecting has been around as long as auction houses like Christie’s. Founded in 1799, it predates the founding of the United States. So it’s surprising to learn that the current art market as we know it is relatively new.
According to Houston, the rise of the art market and the art services industry is only about 35 years old. And this makes sense when you think about the emergence of galleries and blockbuster museum exhibitions as well as the proliferation of new art magazines during this period.
Houston attributes this to the rise of a “new collecting class” in the 1980s. Beyond individual investors, corporations also began building collections as a store of wealth. With so much money being spent on art collection, art advisors suddenly emerged on the scene to act as experts and to help direct and oversee collections.
When choosing an art advisor for yourself, always look at their past experience.
Make sure they are qualified by a reputable organization. A great advisor will spend time educating you rather than simply pushing a quick sale. In fact the best advisors are often with whom you will happily forge long-term business relationships with. This benefits everyone as art collections require special care and the best advisors will have a network of people who will know the best way to conserve your collection.
Anyone can say they’re an art advisor. But only an expert can give you all the information you need to make the best purchasing decisions for now and the future.
Watch the Association of Professional Art Advisors (APAA) Online Talks to learn about additional benefits of choosing and working with an art advisor. Watch Now!
Courtney Christensen, Christopher Barnekow, Kathleen Guzman, Alasdair Nichol