What to Consider before Working with an Art Advisor

If anyone can walk into a gallery and buy a work of art, why work with an art advisor, and what can an advisor do that you can’t? There are many answers to these questions, and the process of building a collection goes far beyond finding a photograph to hang above the couch or a painting to match the décor. While art should look good in your home, there are many additional factors that savvy collectors consider and numerous benefits an art advisor can bring to the table.

Education and Advice

Education and new ideas are two critical services an art advisor should provide. Most collectors, no matter how seasoned, don’t have unlimited time to visit galleries, artist studios and art fairs. An art advisor will introduce artists and works to help determine what a client likes, recommend appropriate options and acquire works that reflect a client’s taste and budget.

Establishing a Point of View

A compelling art collection reflects a point of view, and an effective advisor will help define what their clients hope to express through collecting. Success in this context requires listening to clients while encouraging them to consider options they might not be aware of. An advisor may object to a work that a client doesn’t truly love, a work that’s too expensive or a work that doesn’t reflect a client’s point of view. If a client is concerned about an artwork retaining value, or if they’re buying for investment, an advisor can perform due diligence on artists, galleries, primary market comparables and auction results.

Access and Preferred Status

In sourcing works of art, art advisors leverage relationships with galleries, artists, private collectors and fellow advisors to whom their clients would not otherwise have access. Sought after artists typically have waiting lists; a frustrating scenario that can leave new and seasoned collectors alike feeling overlooked. Galleries and secondary market dealers offer works to their best clients, and new collectors are often ignored in that context. A well-positioned and informed art advisor can provide access to in demand works and artists not available to their clients. An advisor also negotiates deals for their clients and is generally offered better prices based upon their existing relationships with galleries and dealers.

Collection Management

Acquiring art is just one aspect of building a collection. Once an artwork is acquired, an advisor can assist with shipping, framing, installation, inventory management, conservation and storage. They can also recommend trusted specialists to help with appraisals, insurance, estate planning and tax guidance. A well-connected art advisor can also tap into their networks of contacts to sell works on behalf of clients, privately or by consigning works to galleries or auction houses, negotiating the best terms possible.

Transparency and Discretion

Working with an art advisor is a relationship with many facets and benefits. There is no rulebook for art advising, but transparency in financial transactions and discretion on behalf of clients are critical. Building an art collection should be a fun, educational and rewarding experience, and the best art advisors engage their clients with the utmost professionalism and highest level of service.