Observer’s 2024 Business of Art Power List has named Philip Hoffman as a leading authority on transforming art into a serious asset class, shifting how collectors and investors view the market.
Observer’s Power Lists are among the most coveted and sought-after recognitions across industries. Observer’s Business of Art Power List honors the visionaries who wield outsized influence on art’s present and its future.
PHILIP HOFFMAN & THE FINE ART GROUP
Since founding The Fine Art Group in 2001 and pioneering the first-ever asset-backed art investment fund, Philip has transformed how the world views art—not just as a cultural treasure, but as a powerful financial asset. Reflecting on his journey, Philip shared with Observer: “Many collectors, including my initial backers, thought art was merely a cultural asset, not a financial one.”
Two decades later, Philip has proven that art can rival blue-chip stocks in both profitability and complexity, solidifying his place as a leader in art investment and advisory.
Click here to read the full article in Observer.
In a recent ARTnews article, “It’s Too Early to Know if Fed’s Interest Rate Cut Will Revive a Flagging Art Market, Experts Say” Philip Hoffman, founder of The Fine Art Group, weighed in on the Federal Reserve’s half-point interest rate reduction. While Hoffman acknowledges the move as positive, he suggests that a further one to two percent drop is needed before significant corrections in the art market occur. He describes the upcoming auction season as a “chicken and egg” situation, with cautious buyers and sellers waiting for better economic conditions and clarity on future tax policies.
Read the full article on ARTnews here.