Status Symbol

Art has been a status symbol for as long as it has existed - though it has changed formed dramatically. Back in the days of the Greeks and Romans, emperors and wealthy merchants collected art to adorn their homes, to tell stories, to commemorate fathers and brothers who'd come home from war. Art became a status symbol purely because those without wealth and some sort of status or officially recognized business couldn't afford it. 

But as the arts and society progressed and evolved (and art became less of a craft and more of a art), the arts became more than just a marker of wealth. People were looked upon fondly if they could recall Ovid, or the Temple of Artemis or if they could discuss Leonardo. Art became something exclusive - that is, not everyone had the faculties (most likely, this means the wealth in order to be educated in something unessential to one's well-being) to appreciate art. Art, in this period, becomes something for the educated, superior, and wealthy class. 

For the most part, the arts have remained in this station. The one major change was the democratization of the study of art history. 50 or 60 years ago, there were few educational institutions which would teach art history - it wasn't a subject in school the way it is today. There weren't the plethora of students learning about Modernism, Medieval Art or Mannerism. Because of this educational shift, there are suddenly many more individuals both expert at and interested in the arts. This has brought a bottom up democratization to the field. 

While art still remains a major status market, it doesn't have the same cache as it once did. Most everyone knows the major artists of the day and of the recent past. Most everyone can point out the differences between a Van Gogh and a Damien Hirst. But, still, not everyone can afford these luxuries. That remains the distinguishing factor in the arts - no longer knowledge but a return to status as marked by wealth. 

Why Buy Art

If you ask any two collectors, no doubt their reasons for buying art are entirely different. Motivations range from investment potential to the sentimental to finding a place in art history. No matter your motivation, my bet is that your thoughts run the gamut. For example, even the most academic scholar will still consider the investment potential of an artist/painting before sinking a substantial sum into a work. Unless you are Bill Gates or Warren Buffet, there is little chance that you could consider spending what many spend on art without a thought to the future. At the same time, even the most hardened investor probably won't buy works that he doesn't aesthetically enjoy. 

Here are my top reasons why people do and should spend time and money on art:

1. Something beautiful to look at - everyone needs a bit of beauty in their life - whether it is fresh cut flowers, a nice vacation home, or a new dress. Beauty is important to everyone.
   
2. Intellectual stimulation - every time you walk into a room and see a painting you've purchased, you think about what message the artist was trying to convey, what message you get out of it, what it means (in the most philosophical sense). Maybe collectors enjoy art as a thought project and most say that they learn to understand a piece over many years.
   
3. Being a part of art history - the great patrons of the arts always go down in history. Think about Vermeer's patrons or Rubens' patrons. There is something particularly stimulating to some people about contributing or helping to contribute to the general conversation about art and art history
4. To own an heirloom - family is very important to people and having a work of art that you know your great-grand children will own is very rewarding. It is a shared and common experience between generations that present longevity cannot afford.
5. Investment potential - before the art market collasped, many people were fond of "flipping" works of art. If you come across a great deal you were able to turn around and sell it at a profit. 
6. Discovery - there are artists being created every day and who knows when the next Picasso or Vermeer will pop up. If you keep a close enough eye on the art world, you might discover that person. Not only will you have art that greatly appreciates in value, but you will also have the satisfaction of saying you knew of his/her genius first. 

Undoubtedly there are more motivations, but those are the most immediate to me. Any collectors out there want to comment?

My Purpose

So I am sure that a lot of you are wondering, "well...your blog is all well and good Shep but what do you DO?" And I am here to answer that exact question. 

The art consultant basically serves one major purpose: to help you understand the art world and understand the role of collecting within that world. For example, I recently had a meeting with a potential new client who has just begun collecting art - his interest runs deep but he doesn't have the proper skill set to navigate galleries and hasn't kept on top of the revolving door of NYC galleries since his interest set in. Because art is, yes, a hobby and passion, but a very expensive one, it is vitally important that one not rush into a collection. A smart collection is built on love and passion but also solid research, correct assumptions and long-term intentions. Not even the most rabid fan can put together a collection without a working knowledge of a city's art scene, relationships with galleries, other collectors, auction house officials, etc. So that's why I am here: I am your key to the interior of the art world. Depending on their sophistication of knowledge of the art market, I walk my clients through the basics of art history, explain why one painting is more significant than another, explain why two apparently similar paintings are priced so differently, and try to meet any collecting goals the collector might have (whether that be to support local artists, build a museum quality collection, community building, investment property, etc.). 

I have years of experience in this field and have come to learn not only the ways of the art world but also many people in many different walks of life. I am a great resource no matter what your quandary but my real interest lies in the discovery and fostering of emerging artists in and around the US. This is what my personal collection is made up of primarily. I collection in this sphere for two reasons: it is exhilarating to find a truly talented artist in the rough and it is a whole lot cheaper than collecting Miros. 

Introduction

My name is Kieran Shep and I am the principle of the art consulting firm Shep Art Consulting, Inc. We work out of Darien, CT and serve a variety of needs for a variety of clients. Most of my business is done in New York City, though I pride myself on my knowledge of worldwide art fairs including attendance at Art Dubai, Art Basel, Frieze in London, etc. and artists. I am especially interested in emerging artists though, I always listen very closely to my clients wishes. Whether you're looking to discover the latest Indian artist or would rather purchase a rare Miro work, I'm here to help you. Please refer to my blog often. I will be writing about my experiences in the consulting world and putting together a guide to what I do and how to buy art with a consultant.