Updated: Jan 7, 2021
Art inspires, empowers and impresses...It enriches our lives and challenges our perspectives and thinking having tremendous impact in our space and our environment...
Whether you are just starting your journey with art collecting, want to acquire a new piece to your existing collection or simply want to transform your living space, you should consider working with a professional.
"And so the story goes" Sheeba Khan. Available at The World Of Art Gallery.
Image courtesy of the artist.
Art Advisors and Art Consultants provide professional advice to clients interested in buying art. There is, however, a fundamental difference between the two. Where Art Advisors mostly charge hourly fee and do not own or sell their own inventory, Art Consultants usually work with galleries or represent art or artists associated with them. Therefore as a client, you need an Art Advisor!
Art Advisors work with private collectors, estates, corporations, foundations, public art commissions and museums. They offer a range of services from helping their clients acquire, dissolute and appraise their fine art collection to exhibiting, transporting and caring for it. They advise independently, transparently and fairly and target the artists you like and can afford because your interests are the same as theirs, to find the right artworks for you. They will select pieces tailored to your space, style and budget. They will assess the condition and materials of a piece and analyze the current market to negotiate the prices on your behalf.
Collection management constitutes a daily life of an Art Advisor. This includes archiving, documentation, insurance, restoration, storage, curation, loan transactions and handling tax issues. There are also studio visits, exclusive dinners with collectors and artists
among many responsibilities and obligations they have...
Art Advisors provide access to many artists whose work is highly sought after. They can help strengthen your collection, further develop it, build it out more dynamically or bring it to the attention of museums and curators. They are often hired not only to help you select art but to build out reference libraries full of art books as well.
Art Advisors take their clients to galleries, museums and art fairs, sometimes challenging their initial taste. What Art Advisors do first and foremost is to educate you as a client. This is an aesthetic and intellectual education as well as education on how the art market functions. This process can take up to several months especially if you are new to collecting. After that you are more knowledgeable and able to proceed with, and conduct a transaction with a gallery, or at an art fair on your own, in a more confident manner.
A good Art Advisor knows how to care for art and understands museum quality practices for handling and protecting it. He or she is well respected among their colleagues, galleries, museums and artists for his or her expertise and sound business practices as they are dedicated to ethical conduct.
A retainer fee paid on a monthly or hourly basis, a full-time salary, a percentage-based fee contingent on the value of the works bought, or some combination of the above are among several of the common payment arrangements you might have with your Art Advisor.
For works around $100,000 or under, the advisor will usually make 20 percent of the transaction price. That commission might go down to as low as 5 percent for works over $1 million that you purchase under their guidance. The more often you return to an advisor, the more you can negotiate the fee you pay for their services. Some will often charge a bit extra for services including crating, shipping and other logistical matters as they employ a small team that helps them handle those issues. Those who want advice only should expect to pay between $100 to $250 per hour.
Art Advisors establish a friendly working relationship with you as their client so that you could always feel free to either call them or email them whatever your questions, needs or concerns are. They are there for you to make more informed fine art purchase and investment decisions as the economic return on investment can far exceed its emotional value.
So have fun with your Art Advisor! This experience should be pleasurable and enjoyable as your new piece of art will be...
Courtesy of Agatha K. Rokicki for The World Of Art Gallery
at www.theworldofartgallery.org and ArtPal.com/theworldofartgal
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