Lately, I have realized that people often need clarification on the role of an art advisor and an art dealer. That has much to do with the fact that most art dealers use the titles "advisor" and "dealer" interchangeably. However, both roles are vastly different, and depending on your art-collecting needs, you will benefit from knowing the difference. In this article, you can learn in-depth what the role of an art advisor is and how to pick the right one.
An art advisor is a professional who advises and guides clients looking to buy, sell, or manage their art collections. The role of an art advisor can vary depending on the client's needs and the project's scope. Unlike an art dealer who represents a selected group of artists and who directly benefits from selling artworks they hold in inventory by splitting the profit 50/50 (split can vary) with the artist, an art advisor can offer a client unbiased advice because they do not represent artists. Generally, an art advisor is a fiduciary to the art collector and provides the following services:
Acquisition: An art advisor can assist clients in sourcing and acquiring artwork that aligns with their tastes, interests, and budget. This involves researching the market, attending auctions and art fairs, and networking with galleries and artists to find the best pieces for the client. For acquisitions, it is best to hire an art advisor because they will perform due diligence on the art market and on the specific artist that you might be interested to acquire- performing due diligence assures that the price an art dealer may be asking is adequate for what they are trying to sell to you.
Collection management: An art advisor can help clients manage their existing collections, including organizing and cataloging the artwork, recommending conservation and restoration services, and advising on proper storage and display.
Valuation: An art advisor can provide clients with an estimate of the value of their artwork, either for insurance purposes or to prepare for a sale.
Sales: An art advisor can assist clients in selling their artwork through private sales or at auction. This involves researching the market, setting a price, and marketing the artwork to potential buyers.
Choosing the right art advisor is an important decision that can significantly impact the success of your art-collecting efforts. Here are some factors to consider when selecting an art advisor:
Experience: Look for an art advisor with a solid track record of working with clients and successfully navigating the art market. Ideally, you want someone with experience with the specific types of art you are interested in.
Education and Expertise: Though there are no specific qualifications in order to become an art advisor, hiring someone with an art history degree is crucial. An art advisor with an education in art history and/or the art market will be better to help you understand the art historical context and market relation. Aside from education, consider the advisor's area of expertise. Do they specialize in a particular type of art or era? Are they well-versed in contemporary art or historical works? You want to ensure the advisor's expertise aligns with your interests.
Network: An art advisor with a strong network of connections in the art world can be invaluable in sourcing and acquiring high-quality artwork. Ask about the advisor's relationships with galleries, auction houses, and other industry professionals.
Communication: Good communication is vital in any professional relationship, especially regarding art collecting. Look for a responsive, straightforward, transparent advisor in their communication style and pricing.
Compatibility: Finally, it's essential to choose an art advisor who you feel comfortable working with and who understands your tastes, goals, and budget. Schedule an initial consultation to understand the advisor's approach and whether they fit you well.
Overall, an art advisor is a knowledgeable and experienced professional who can guide clients in navigating the art market and building and managing their collections. By considering these factors and researching, you can find an art advisor who can help you build a successful and rewarding art collection.
Here at The Nomad Salon, we specialize in emerging and established contemporary artists from across the globe. We only receive payment from the client/collector for the services provided to offer the most transparent unbiased advice. We never accept a sale commission from art dealers or artists who sold the artwork to avoid conflict of interest. You can find out more about our services here or simply contact us here today so that we can discuss your project.