If you are or want to become an art collector unless you are already in the industry you will probably make a lot of mistakes building up your collection. So, do art collectors actually need curators ? Mistakes in the art world can be really expensive, actually much more expensive than getting an art advisor/curator.
There are some situations where an art collector doesn’t need anybody! Therefore, majority of them do. We’re going to be reviewing what are curators, art advisors, how much they cost and how make them worth for you.
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What are Art Curators ?
Art curators are responsible for selecting, cataloguing, managing and present artworks in a museum or art gallery. They are responsible for selecting artists and artworks according with the DNA of a gallery / museum. All of these tasks require curators to work in other areas such as conservation, education, design and marketing.
What are Art Advisors ?
Art advisors (or art consultants) are basically curators of an art collector. She/he, is responsible for developing the client’s art collection according with the goal of its client. While some collectors buy artworks just because they like it, others buy art as an investment.
Making Art Advisors Worth It
Art advisors offer a range of services, from simply educating new collectors and suggesting art for a new apartment. Fundamentally, an advisor uses her or his expertise to help a client make better, more informed purchases that will stand the test of time. So what should one expect when hiring an art advisor?
What to Expect
Many people think that they know what they like. Therefore, no one truly know what they like until they learn what is out there. Art collectors actually need curators once they only enrich the experience of collecting art but also enhances the experience of understanding the object, its context, and the story of the artist. In the end, the best art advisors are also teachers to their clients.
Art advisors are very familiar with the nitty-gritty details of owning an art collection. They are a great resource when managing facets like taxes and estate planning. Here are 5 art collection details where your consultant can advise:
1 – Insurance: An art advisor should be well-versed in how to secure the proper insurance for your collection.
2 – Shipping & Shipping Insurance: Special attention and care should be given to the packaging and shipping insurance. In some cases, it is inadvisable to ship certain works and you need to know when these situations arise. Your art advisor can handle this for you once it’s a complicated process. You can find more about shipping here: https://marianacustodio.com/shipping-art-internationally-a-small-guide-to-avoid-customs-problems/
3 – Conservation – Art advisors will have the tools and network to research the different conservationists in your area. They can find a candidate with the experience needed as well as manage the art repairs and restorations.
4 – Sales Tax: When purchasing art out of state or filing taxes, advisors are experienced in the best way to handle your payments as
5 – Selling Artwork: If you are interested in getting art as investment be aware that buying and selling can be similar to the stock market. Always ask a professional before to avoid some bad decisions.
The fees
The costs can be considerable. According to the Association of Professional Art Advisors, advisors typically charge a commission of 20% for art works under $100,000 that you purchase under their guidance; that commission might go as low as 5% for works over $1 million. Of course, the more often you return to an advisor, the more bargaining power you’ll have. Those who want advice only should expect to pay 100 to 250 euros per hour.
When getting an art advisor for develop and take care of your art collection be aware that is best to pay an art advisor a retainer to do their job—that way everyone has skin in the game—and they are not basing their advice on what the commission would be. Rather, they are basing their advice on what would be the best thing for the collection.
You may pay a bit more with a retainer, but you’re getting an art advisor that will go from galleries to auctions on your behalf looking for the thing that pulls your collection together. It’s worth it.
The Possible Name Recognition & Networking Opportunities
Art collectors actually need curators who can help them culturally, commercially and socially expand your network. They create social and cultural opportunities that their clients can participate in, like a private viewing at a museum or gallery, or a meeting at an art fair. Also, with so many wealthy collectors competing for the work of a few dozen international art stars, top galleries are in a position to handpick their clientele these days, keeping long and closely guarded waiting lists ( some of them more than 3 years) for new work. As a result, many insiders say, today’s art consultants are valued as much for their entree as for their advice on choice acquisitions.
Additionally, good art advisors prefer enduring relationships and not one-off purchases.They are there to help you build strong relationships in the art market whether it be their own relationship with you or relationships with other artists and art professionals.
Conclusion
- Paying an art advisor can save you a lot of money in the long run
- A trustworthy art advisor is worth the price
- Art advisors are aesthetic matchmakers and teachers
- Art Advisors can get you pieces that you alone wouldn’t be able to
- If you want to know more about art as investment check our previous post: https://marianacustodio.com/is-art-good-investment-11-tips-new-art-collectors/
