Why You Should Work With An Advisor
Whether you’re looking to collect fine art, antiques, or other luxury assets for personal enjoyment or financial advancement, obtaining expert advice is imperative. An unbiased professional will help ensure you are making informed acquisitions with regards to your collector profile and your investment portfolio. Listed below are the primary ways in which a qualified advisor can be of benefit to both a novice and experienced collector.
1) Authenticity & Title
The art and antique markets are brimming with fakes, forgeries, replicas, and misattributions. Accidentally purchasing one of these can result in a total loss. To avoid this costly mistake, an advisor will provide you with due diligence. While this process varies based upon the specific asset, it can include a physical inspection of the object, as well as a review of the artist’s catalogue raisonne(s), a cross-check of stolen art registrars, an examination of a work’s provenance, and a look into the gallery’s reputation. In taking these precautions, an advisor can help a client buy an asset with confidence in its authenticity and title.
2) Understanding Value
The art and antique markets are opaque. Information about an artist’s primary and secondary market success is rarely made available to collectors. When market data is made available, it’s often difficult to interpret. As such, it is not uncommon for a collector to be persuaded by a savvy dealer into purchasing a work for well above its fair market value. An informed advisor understands precisely what a collector should pay for a particular piece both in the primary and secondary markets, whether it be through a gallery, auction house, or private sale.
3) Understanding the Markets
Even if you’ve established that a work is authentic with good title and that you can obtain the asset for the desired amount, do you know if it is a good investment? Just as with any other investment, you should consider the markets and the projected future value of the asset. Art is subject to significant changes in value; while some works appreciate—often to astronomical prices, even more depreciate as they’re passed aside for the new rising-stars of the art world. An advisor can help you determine an artist’s professional trajectory, if they have staying power, and which works in that artist’s oeuvre are most likely to appreciate.
4) Optimizing your Return
For whatever reason, should you choose to sell a single work or an entire collection, you should consult with an experienced advisor. They’ll make sure the work is sold through the right venue, at the right time, and for the right price—all with favorable terms. They’ll make sure you are optimizing your return on investment. Further, a good advisor will consider any obstacles for future resale during the initial acquisition process.
5) New and Exciting Opportunities
Perhaps the most fun advantage to having an advisor is their ability to expand your horizons. A good advisor will introduce you to new artists and movements, help you cultivate your knowledge of art history, its theories, and methodologies, and will help you navigate the various cultural events such as art fairs, biennials, and gallery openings.
An advisor will ensure you are making informed decisions which provide optimal enjoyment and financial returns. They’ll help you immerse yourself in the art world and provide expert guidance on how to properly build and manage the collection that’s right for you!