The Art Patrons of Our Day

History loves to repeat itself and so "Today's billionaires are no different from the grand dukes and popes of the Renaissance or the merchants of 17th century Amsterdam. They buy art to appreciate it, to learn from it and to profit from it" as is stated by Forbes' article Top Billionaire Art Collectors

The advantage of having billionaires obsessed with collecting art is that at the end of their hunt, it usually will amount to a collection for a new museum or public space everyone can enjoy. Who are these art lovers of the world with Rembrandts hanging in their homes or 12 million dollar sharks?

S.I. Newhouse (publisher, Conde Nast)


Steven A. Cohen (hedge fund)



Charles Saatchi (advertising)




Ronald Lauder (Estee Lauder heir)



Eli Broad (house building and insurance)



Francois Pinault (retail and luxury goods)

It continues "the individuals on whom we focus are those who collect with consistency, boundless appetites and the necessary billions to satisfy them. Fact: We have been living through an astounding boom--one that far surpasses its predecessor of the later 1980s. As with the 80s, much of the market is being made by the New Money" which is why the list focuses on just these few the ones with billions and are really in for the art.

Although this is from 2005 and there are probably newcomers today, this gives a good idea of the kind of billionaire art lover the art world raves after.

Versailles and Jeff Koons, What's Next?

I was checking my daily articles on my account at MutualArt.com when I came across an article on Jeff Koons and his Lobster that was showcased in the Chateau de Versailles Jeff Koons exhibit outside of Paris. I remembered all the outrage, curiosity, and talk this show instigated last year. If buzz can be created, it means it is bound to happen again and that is exactly what people have in mind.

Jeff Koons' Versailles show has opened up a whole new way of exhibiting art works and commenting on the ways of the old. The irony at hand I guess is that one of the symbols of brand name art, the status of our day, what is exciting and popular and exhuberant somehow doesn't fit in with its equivalent of the 17th century during the time of the Sun King (le roi soleil.) I guess it didn't fit in with the living room?

The French artist Xavier Veilhan will be the focus of the next exhibition at the chateau de Versailles where the first piece has been described as "A dynamic sculpture depicting a team of bright purple cube-like horses pulling a carriage" as on cbcNews. Maybe because the artist is French there will be less rioting this time around- and maybe less visitors. Who knows but we'll find out in September.

Useful Art Blog

As an art consultant it's good to get tips from other art consultants as well and see how they think and what issues strike their interest in the vast art world.
LPDM Fine Art Consulting has a great blog with articles ranging from recommended books to read, how to buy/sell your art, general reviews on art fairs, art auctions, recent controversies, explaining art law, and other relevant terms.
It is just a good informational tool.

Here's the link to the blog
Take a look if you get the chance!

Art Investment Firms

This post is meant to bring some clarity into the art investment firm business. What is it exactly?
When investing in a portfolio, it's important to have a certain amount of diversity, you know, in case things don't work out with one of your investments so you haven't put all your eggs in one basket. Investing in art serves that purpose when diversifying your portfolio of investment, it provides another alternative for returns on assets. It seems like those investors from Wall Street want something new, high risk, high status, exciting, and hopefully beautiful- if they ever get to see the art they invest in.

The New Yorker wrote an article on the subject, which explains it well . Click here for full article.

"In 1904, André Level, a French financier, persuaded twelve other investors to contribute two hundred and twelve francs apiece to a new investment fund called La Peau de l’Ours (“the skin of the bear”), which was targeted at an unusual market: modern art. Over the next ten years, the fund bought more than a hundred paintings and drawings, including major works by Picasso and Matisse, before selling off its entire collection in a giant auction, at the Hôtel Drouot, in Paris, on March 2, 1914. The sale was more lucrative than even Level could have hoped: some paintings went for ten times the original price. When it was over, the partners found that they had quadrupled their initial investments."

A trick to making something valuable, is keeping it scarce, unique, and one of a kind. This type of investment brought high returns, however, can this still be the case with so many of these firms popping up in recent years?

Here's some of the names coming to mind:
Fine Art Wealth Management (UK)
Aurora Fine Art Investment Fund (Moscow, NYC)
Fine Art Fund (UK)
The Artist Pension Trust (Global)
The Art Trading Fund (UK)

Creating a Unique Art Collection

Sometimes people wonder what makes for a good art collection and what's the importance of art collecting? The easy answer is probably what makes the collector happy, what they like. However, most times this is a very ambiguous desire- most people don't really know what they want or like.

I came across an article with some insightful advice on www.artbusiness.com where "Step one is being true to your tastes. This means acknowledging that you like certain types of art regardless of what you think you're supposed to like or what seems to be the current rage. All great collectors share this trait-- that's one thing makes their collections stand out."

Collect what you like, this much is true at anytime, but what people also seeks is something of value, meaning something valuable to the eyes of others, something that is desired by many people, but only you possess it- that's a powerful collection.

Another insight is be open and look everywhere "Don't confine yourself to the same museums or galleries or wherever else you've been looking at art. Get out there and see what else is going on." This is important for diversity in the collection and avoiding a collection that looks like the next one.

A novice collector will buy what he likes because that's the initial first step. However, for the collection to mature it has to make sense and create links with the other items in the same collection so the collector will say "Not only do I love this sculpture, but it's also a prime example of the artist's best subject matter dating from his most productive time period and it fills a major gap in my collection." The collection is complete once all the pieces of the puzzle are fit together, the art consultant can then help to find these missing links and pieces.

Another interesting point is documenting your art pieces. Take the time to record the title, ownership history, artist statements, any associated stories, pricing etc. because once the collection has grown large enough you may forget some of the small details that made an artwork so fitting when you made the initial discovery.

To view the full art collecting posting see here.

Art Basel Prospects

As Sam Keller, the Director of Art Basel, resigns from his position, he leaves us with this advice:

"Change continuously with the art world,'' Keller, 41, said in a telephone interview from the Swiss city. "Listen to the galleries who have what it takes to make an art fair.''"

(From Bloomberg: read full article)

So what do these galleries have to say? As an art consultant, Art Basel is one of the major events for the primary art market. For galleries, it is highly recommended to invest art fairs since the exposure presents so many opportunities. Everyone is going to be there from the USA, to Europeans, to the Middle East, and Asia. The same advice goes to art consultants, clients will want to know what's up, especially at Basel, and especially because UBS (the main sponsor of the event) decided to close its art advising department. A sad moment, but it means we have to reassure clients of our necessity even more. It seems like changes are happening with a vengeance, I'll be curious to know what insight will come from Art Basel- I certainly am excited!