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
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
Jan 11, 2018
by Daria Pletneva, Creative Director at ARTI.NYC
It can often be a lengthy process to source a single work of art for a single empty wall. Sourcing art works in bulk for a commercial space can therefore seem to be an almost insurmountable, difficult task for some interior designers, architects and even new art consultants. However, with careful planning, one can create a cohesive, enjoyable art plan for a large spaces. The following article presents my advice for sourcing and installing 20+ artworks for large projects like townhomes, commercial buildings, hotel chains, restaurants, and even airports.
Plan and Discuss
This step is as evident as it is crucial and underestimated. In building ...
Nov 23, 2015
Looking for an alternative form of investment? Fine art can bring great rewards, but you need to do your homework and seek advice. When Grace Cossington Smith's modernist painting The Window sold for double its pre-sale estimate at a Sotheby's Australia auction in November 2014, the local art world was aghast.
Oct 29, 2015
Since the dawn of the web, companies have tried - and mostly failed - to sell fine art online. In 1999, for example, eBay bought Butterfield & Butterfield, one of the largest traditional auction houses, for $260 million, promising to use technology to bring fine art to the masses.
Oct 14, 2015
by Leila Amineddoleh. Since the first lawsuit against the Knoedler Gallery was filed for selling forgeries, the art world has been abuzz with stories of high-end fakes. However, forgeries are not a new phenomenon. The law of supply and demand dictates that there will be no end to the rising value of artworks done by the hands of “masters.” And with soaring market prices, art forgery will proliferate as forgers find incentive in skyrocketing sales. At the heart of forgery disputes is the determination of authenticity. Who makes these determinations? How does the market and legal world handle a battle of experts? Moreover, what remedies are available to disappointed buyers? The bes ...
Oct 02, 2015
Art investors are nearly always advised not to invest in art at all, but to collect it. Buy what you like, the conventional wisdom goes, not what you expect to increase in value. But collectors still must contemplate financial matters, especially related to inheritance, advisers say.
Source : the new york times
Oct 02, 2015
"...An option for serious shoppers is an art adviser, who can guide collectors through the city’s galleries and auction houses. Fee structures vary, but in a common scenario, the adviser will charge a 10% commission while negotiating a trade discount to help defray costs...."
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Sep 18, 2015
If you’ve inherited an art collection and you’re considering selling all or part of it, you are in for an art market adventure! It can be an emotional and financial roller coaster ride, so it pays to take your time, consult with experts and enjoy learning about the other side of art collecting. Step One—Discover What You Have So You Can Sell The very first step is to figure out what—exactly—you now own and how much the individual pieces are worth in today’s market. This is a good time to bring in both an art appraiser (to help you get an idea of current market values) and an art conservator to assess any damage that may need to be addressed prior to sales. ...
Sep 17, 2015
Even if you’re tempted by arguments that art is the next new asset class, and data such as the Mei Moses World All Art Index, which as of June 2015 had outperformed the S&P 500 since the end of 2013, there are a few caveats to bear in mind. First, you can’t and shouldn’t view a work of art as an investment, regardless of what some economists argue. Sure, your new painting may hold its value and may even appreciate. But art is the most illiquid and opaque market imaginable, one that makes the murky worlds of hedge funds and private equity look positively transparent in comparison. Read more...
Source : the guardian - Suzanne McGee