Dec 12, 2019
By: Jeff Minett, Senior Vice President, Huntington T. Block, a division of Aon
Collecting art is arguably an art in and of itself – one that can be challenging for dealers, appraisers and others in the industry who carefully monitor trends, economic indicators, media, fashion, style and politics. We have seen a significant shift in what collectors find desirable. Tastes change. Influencers are abundant.
By many, art is considered a smart investment, similar to real estate. Values tend to appreciate over time. When the economy is robust, the competition to obtain a desirable artwork is sometimes fierce as we have seen play out in exciting public auctions and sales records report ...
Nov 19, 2019
Billed as the next big thing, schemes to sell shares in works of art have yet to excite the market. The Art Newspaper investigates where this trend is now.
Read Full Article via The Art Newspaper
Oct 29, 2019
According to the most recent Art Basel report, there were some 55 international art fairs taking place in 2000. In 2017, the number grew to over 260, with dealers making 46% of their annual sales at the fairs. This explosion has most art market professionals feeling like they are constantly on the road. Stephan Zilkens of Zilkens Fine Art Insurance Broker said, “I see the art market turning more and more into a traveling business. Every week there are new art fairs in the world and they try to become more and more important.”
Of course, it’s not only the people that have to shuffle from fair to fair. Works of art are also on the road more often than they have ever be ...
Oct 29, 2019
Philosophical and political divergences between artists and patrons are hardly new... Few dealers can afford to pick and choose. “It’s easy to be on your high horse when your profit margins are good,” said one New York art dealer, who requested anonymity. “But people hop off the horse and walk next to it when money gets tight.”
Read full article via ArtNet
Sep 30, 2019
By: Adrienne Reid, Vice President at Huntington T. Block Insurance Agency, Inc., a division of Aon
Making your first art purchase is an exciting moment. You may not even have realized that it was your personal starting point of a lifelong love of collecting. Each new purchase brings life to your collection and continues to shape your vision. And before you know it, you have an art collection. However, new collectors, by virtue of being new, are prone to making mistakes when they first start out, especially if they aren’t knowledgeable about the process.
Here are seven common mistakes new collectors make – that are easy to avoid – if you know what to ...
Sep 30, 2019
Technology and tenacity are helping turn up undiscovered items whose value might surprise even their owners.
For years, there was a maxim that the auction market was fueled by the three D’s: death, divorce and debt. Natural upheavals powered the supply side of the business, the thinking went. But these days, auction houses are working much harder — and, by their own accounts, smarter — to find material to sell. They are using technology in new ways and staking out new territory to see if local collectors would like to part with that charming painting, that lovely old watch, that intriguing antique porcelain bowl.
Read full article via The New York Times
Sep 30, 2019
The art industry is at a crossroads. Never before have more people been engaged with art, thanks to the rise of digital channels and social media. Yet the market has largely stagnated over the past decade, and the number of artworks trading hands has decreased. As value has concentrated at the top of the market and costs have risen, galleries and auction houses are looking for new ways to ensure their businesses survive and thrive, to support artists, and to help connect collectors with artworks they love.
Read full article via Artsy
Sep 25, 2019
The art industry is at a crossroads. Never before have more people been engaged with art. Yet over the past decade, the market has largely stagnated and the number of artworks trading annually has decreased. Galleries and auction houses are looking for new ways to survive and thrive, with online sales receiving increased attention, given the significant opportunity to connect with and cultivate new collectors. Read Full Story via Artsy
Aug 21, 2019
The art world is notorious for its lack of regulation and transparency and the global market is full of complexities; it can help to have someone on your side - an art advisor, or consultant - to help you make sense of it all and make the right purchasing decisions as a collector. However, even choosing a consultant can be a daunting task! The Clarion List has more than 800 listings for art consultants, and there are certainly many more globally.
We asked three art consultants with different backgrounds, experience and interests what advice they have for collectors who would like to hire a professional to help navigate the market to purchase art. Leslie Rankow of Leslie Rankow Fine Arts, Te ...
Aug 21, 2019
Lessons from 2008 provide insight into what happens to the art market during a recession. Were a new one to hit, here’s what the art world should expect.