Art Advisory Firms: Myths and Reality

Art Advisory Firms: Myths and Reality

An art advisor is a person with excellent knowledge of the art world, who has the required skills to evaluate a piece of art, understand its authorship and authenticity, and provide expert guidance. As a rule, the representatives of art advisory firms have work experience in museums or galleries, or they held art management positions in the past. In other words, a good art advisor is an experienced professional who has developed a profound understanding of art.

An art expert can help you navigate the modern world of art, as well as help sell and buy various artworks. There are many reasons why people hire art advisors, but there are also many myths around the art advisory business, which may make you confused.

Myths about art advisory firms

  • Art advisors deal with prominent clients only. In fact, they work with a wide variety of clients, both corporate and individual, who have different goals, helping them sell and buy art, decorate a new house or hotel, make a one-time art purchase, etc.
  • Art advisors dictate what to purchase. In reality, art advisors first identify the client’s requirements and then search for the most suitable artworks for them.
  • Art advisors do not sell their own art. Art advisors are the intermediaries between art sellers and art buyers, but they can also sell artworks from their own collections if required.
  • The service of art advisory firms is extremely expensive. As a rule, art advisors charge a percentage of the sale price (around 5-10%). Sometimes, they charge a monthly or yearly fee if their service is constantly required.
  • An art advisor deals with art acquisitions only. Professional art advisors can help with many different services, including art installation, art logistics, art framing, art insurance, and more.

The services of art advisory firms are recommended for those who want to save their time and effort and to make the most advantageous deals when selling or buying art. However, there are also many other things that expert art advisors can offer their clients.