The art market is a complex and dynamic system, with an ever-evolving structure that can be difficult to navigate. Despite its exciting features, the art world's growth and changes over the past twenty years have been significant, driven by a range of economic, technological, and cultural factors. With increasing globalization and the rise of the internet, auction houses, galleries, and dealers can now reach a global audience through online sales platforms. Contemporary art has become a major driver for global sales, with impressive records at auctions. However, the art market has also become more competitive, with new players entering the field and traditional power structures shifting rapidly. It is essential to keep track of all these changes, including new trends, cultural or economic factors, new artists, and venues.

While the art market's rapid development shows positive growth, it still lacks transparency. Although numerous platforms exist that allow access to databases, it can be challenging for buyers to obtain all the necessary information regarding artworks. This can make it difficult to accurately assess the value of an artwork, leading to potential overpricing or undervaluation.

To navigate the complexities of the art market, professional expertise can be helpful. Whether it is a knowledgeable collector who prefers to focus on other matters or a new buyer who is unsure where or how to begin, an art advisor can provide valuable guidance.

Art advisors are deeply knowledgeable about the world of art and possess the necessary skills to evaluate an artwork and make judgments of its quality. They can provide guidance on pricing, authentication, provenance, and market trends, helping clients make informed decisions that align with their goals and objectives. A qualified art advisor typically has a professional background in galleries, museums, or art management and has developed a keen eye for good art.

Furthermore, the art market is a relationship-based industry. Even if one knows which work of art they desire, it is often an art advisor with the right connections who can secure access to the desired piece. While both art dealers and art advisors have the expertise required to assemble an impressive art collection, the key difference lies in their responsibilities and motivations. An art dealer is accountable to the artists they represent and the inventory of works they hold. On the other hand, an art advisor is well-positioned to be a neutral guide throughout the process of acquiring a single work of art or creating an entire collection.

10 July 2023 | Art Market