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 ...
Jul 06, 2019
By Lindsey Bourret, Head of Authentication Services, Mearto
The history of art forgery is nearly as ancient as the history of art. Roman sculptors frequently passed off their works as made by earlier Greek artists. Even the great Michelangelo falsely aged a sculpture to make it appear older and more valuable. In the 16th century, Albrecht Dürer was so plagued by forgers that he inscribed "Be cursed, plunderers and imitators of the work and talent of others" on one of his engravings.
Though it’s certainly not a new phenomenon, the previous decade has seen a number of major forgery scandals, from the arrest of notorious forger Wolfgang Beltracchi, ...
Jan 15, 2019
By: Erin Bast, Senior Underwriter at Huntington T. Block Insurance Agency, Inc., a division of Aon
It is commonly thought that art theft would be the most prevalent claim due to breaking headlines about bold art heists and movies such as the Thomas Crown Affair. However, ironically enough, theft claims are really rather rare. Instead, the majority and most common types of art claims can be bucketed into three categories: transit, peril and accidental damage.
Art on the move
The number one type of claim the art world experiences is damage of a work of art during transit. In fact, over the course of a year, transit is the cause of between 60% - 75% of all losses. While the safest place for ...
Aug 30, 2018
By Diane Jackson, Chief Operating Officer and Director of Finance at Huntington T. Block Insurance Agency, Inc., a division of Aon
With the 2018 hurricane season upon us and the most damaging California wildfire blazing – not to mention the prospect of winter weather around the corner – it’s more important than ever for art collectors to create a plan of attack for how to keep their collection safe if a natural disaster were to occur. Failing to have a proactive plan in place leaves collectors vulnerable to having to react quickly in dangerous situations, upping the chance art may be damaged in hasty transit or, worse yet, have to be left behind at a moment’s notice. ...
Jan 16, 2018
By Peter Falk, Co-Founder and Head of Research for Private Art Transaction Alliance, LLC in New York
For most of the 20th century transactions in the art market were largely under the control of brick-and-mortar art galleries and the major auction houses. Galleries sold privately at what were considered to be retail prices — this defines the primary market. They nurtured artist’s careers and established value benchmarks. As time passed, the auction houses fed off the galleries’ consistent promotional efforts and sold works publicly at what were often by comparison, wholesale prices, and this defines the re-sale or secondary market. But, by 1990 auction price results had be ...
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 ...
Sep 15, 2017
The 101 Program for Art Advisors by Tang Art Advisory and One Art Nation
By Annelien Bruins, CEO and Art Advisor, Tang Art Advisory
Even as details of the Labor Department’s Fiduciary Rule are still being debated and its implementation may be delayed for another 18 months, the writing’s on the wall. Investors want financial advisors who act in their best interest, and understandably so. There is a lesson to be learnt here. As a number of recent high-profile court cases has shown, there is much potential for misunderstanding in the relationship between collector and art advisor, particularly if potential conflicts of interest or remuneration are not discussed in advance of a col ...
Mar 20, 2017
By Bonnie Kagan of Kagan Fine Art, art advisor and appraiser in New York
You have inherited an art collection. Wonderful
You may ask:
Ok, what do I really want to do with all of this?
What are my options? How does one prepare for the secondary market?
How do you choose an art professional to help?
It is best to choose an Art Advisor and Appraiser, since this person will be able to take you through all the steps to achieve the outcome you want, they will know where to go, what you need, and what it all should cost. Besides having the obvious qualifications as an art professional, choose someone who will take the time to listen to your concerns and situation.
If the art collection has s ...
Feb 13, 2017
By Caroline Page-Katz, Chief Operating Officer at UOVO
Art storage facilities are naturally mysterious, discreet places due to the high value of their contents, so choosing one can be a murky and confusing process. Here is a checklist to go over when you’re searching for the perfect home for your artwork, whether it’s one painting or an institutional collection:
1. Does this company specialize in art storage?
Storing art isn’t like storing seasonal items or everyday household objects. Art requires a level of care beyond what a typical self-storage facility provides. Finding a facility which specializes in art storage and whose staff has been trained to handle art is the ...
Feb 07, 2017
By Rayah Levy, Art Market Expert, CEO: ArtéQuesta and AOHFA
In January, Sotheby’s found that a painting called “St Jerome,” attributed to the 16th century Italian artist Parmigianino and consigned by collector Lionel de Saint Donat-Pourrières, was a fake. Paint samples taken from the oil painting were found to contain pigments not invented until the 20th century. Sotheby’s is refunding the buyer and is seeking damages of $672,000, according to The New York Times.
“St. Jerome,” attributed to the circle of the 16th-century Italian artist Parmigianino, has been determined to be a modern fake, according to a complaint filed by Sotheby’s ...