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 ...
Jun 19, 2019
In January 2018, the American Bureau of Labor Statistics found that the median employee tenure was 4.3 years. This means that Americans change jobs, on average, every 4.3 years, which works out to more than 12 moves over a 50-year career. There is also early evidence that shows a trend towards an even shorter median tenure. Gone are the days of spending an entire career with one company. Today’s job market is all about making smart transitions.
Whether you are a job-hunter seeking your next position, or a hiring manager looking to fill a vacancy on your team, a recruiter can provide a wider range of options and help you make the right choices. There are several recruiting agencies tha ...
May 13, 2019
For the last decade, the market has been abuzz with the emergence of fine art as an asset class. Now, perhaps more than at any other point in the history of art collecting, purchase decisions are heavily influenced by an artwork’s value as an investment.
Leslie Rankow, an established art consultant, said, “It’s hard work to be a good collector. It requires a lot of time - reading, learning and traveling.” As a consultant, she tries to direct her clients to works not only that they will enjoy for many years, but also that are likely to also appreciate in value while they are being appreciated! She said, “Anyone can choose a work of art. It’s my job to say ...
Mar 12, 2019
In 1789, Benjamin Franklin wrote, “In this world, nothing can be said to be certain, except death and taxes,” and while they are both generally considered to be unavoidable and unpleasant, fortunately, there are professionals who can make the burden of taxes and other financial obligations somewhat lighter for individuals and businesses.
There are many accountants and accounting firms that specialize in services for the art market. From helping artists file individual tax returns to bookkeeping services, management accounting and budgeting, tax and VAT compliance, annual statutory accounts and audit services for arts-based businesses, accountants can accomplish a wide range of t ...
Jan 17, 2019
What is provenance research and why is it important?
Highly desirable works of art are often described as having “impeccable provenance,” but what exactly does that mean?
Imagine being able to trace an uninterrupted line from a work of art’s current owner back to the artist’s studio, knowing every place the work has ever been exhibited, the date and location of every sale and the identity of every previous owner along the way.
When you think about all of the events that would occur over, say, a 400-year-old Old Master painting’s lifetime – war, natural disaster, political and economic unrest – it becomes clear that all of this information, collect ...
Nov 12, 2018
In the past decade or so, the way that art is exhibited, bought and sold has made a major shift. The number of art fairs is at a record high. For some galleries, these art fairs can be highly beneficial, as sellers are able to increase their visibility and widen their market. Participating in art fairs year-round can be an immense financial burden, and yet if galleries choose to opt out, they are considered irrelevant. This high-cost, high-risk atmosphere of most art fairs poses an immense threat to the existence of smaller brick and mortar gallery spaces and can be very costly and profit-eating even to the established galleries.
As New York-based artist consultant Elliott Levenglick, who r ...
Sep 11, 2018
5 Tech Companies Offer Efficient Information Sharing
The art market is evolving as more and more art transactions are taking place online. However, despite grabbing most of the headlines, e-commerce sites aren’t the only platforms that are revolutionizing the art world via tech. A number of companies offer software solutions to help art market businesses -from auction houses to galleries to art consultant firms - run their businesses more efficiently.
Due to the historical and prospective significance of the works being bought and sold, art transactions require a complex web of data that is continually evolving about both the object and its sales. With the help of online software pro ...
Jul 11, 2018
One of the most vital services for art collectors that is commonly overlooked is collection management. As a collection grows, having a collection management specialist by your side can be incredibly beneficial to save you time and headaches in both the short and long terms.
While more and more larger private collections are being overseen by collection management specialists, this field is still unknown to many newer collectors and industry insiders. We spoke with four experts from the field about why a collector should hire a collection management specialist, what services they offer, how to hire the best specialist, and why your art consultant may not be enough.
Cataloguing & Beyond ...
May 21, 2018
What to Expect As You Become a Part Owner of a Masterpiece
Not everyone can own a masterpiece. Besides the often prohibitive price tags, you also have to wait for one to come up at auction, and not all art lovers have adequate wall space. One of the greatest troubles (and joys) of paintings and sculptures is that there’s just one of each.
Art funds, however, allow individuals to share ownership as they make investments in aesthetic assets including masterpieces. Around since 1974 (according to Artsy.net), these entities have shifted over the years to accommodate new investors and eras of art history. Now, you need not be a millionaire, nor an Old Masters aficionado, to buy in. This y ...
Mar 06, 2018
Let’s leave art theft to Hollywood. Glamorous and alluring as The Thomas Crown Affair and similar films may be, true art crime leaves its victims feeling attacked, struggling with insurance companies, and grieving for prized possessions. It also happens more frequently than you may expect: tens of thousands of artworks, worth billions of dollars, go missing every year. In 2004, the FBI even set up their own Art Crime Team, comprised of 16 special agents. They maintain a National Stolen Art File, where you’ll find missing works by artists ranging from Abstract Expressionist Franz Kline to Andy Warhol. From Pre-Columbian stone bears to screen prints, art of all media, from all eras ...