The Fine Art Group Internship Program

The Fine Art Group offers hands-on internships for recent graduates and individuals with diverse backgrounds in the art world. This program provides first-hand experience in TFG’s appraisal, art advisory, agency, marketing, and business development divisions, in which the interns work directly with the corresponding advisors and teams.

Selected candidates must possess an exceptional work ethic, excellent time management skills, and a detail-oriented and professional demeanor, taking accountability for their tasks. Candidates should demonstrate an interest in art through work experience or studies and be motivated to excel in the gallery and auction market. Proficiency in Apple Mac OS, MS Office, Photoshop, and internal

INTERNSHIP POSITIONS

TFG internships last from 3-4 months and are offered as full-time positions.

Appraisal Management Intern 

In-person only position – Philadelphia Metro Area

The Appraisal Management Intern will support the Appraisal and Advisory Departments by working with our team of experienced art appraisers. We seek a detail-oriented intern with a keen interest in and knowledge of art and antiques. The selected candidate should also have an outstanding work ethic, efficient time management, and be a team player. 

Intern responsibilities include:

• Researching and cataloging antiques.
• Assisting with on-site client visits and appraisals.
• Formatting/editing documents and images for internal system tracking.

The intern will also collaborate with other departments to provide administrative and operational support.

Advisory Intern 

Hybrid position allowed – New York City

The Advisory Intern will support the Advisory Department by working with our team of experienced art advisors. We seek a detail-oriented intern with a keen interest in and solid background in art history and antiques. The selected candidate should have an outstanding work ethic and time management skills.

This position is responsible for researching and cataloging antiques, updating client information in the CRM system, and maintaining 1stDibs accounts. The selected candidate is also responsible for creating client presentations, editing photos and documents, photographing items and artworks, and placing global exhibition consignments. They will also collaborate with other departments, including marketing and general operations, to provide administrative and operational support.

Art Marketing & Business Development Intern

Hybrid position allowed – East Coast

The Art Marketing Intern will support the Marketing Department and work closely with the Business Management and Operation departments. We seek a detail-oriented intern with an interdisciplinary background in art and marketing/management with a keen interest in art and antiques. The ideal candidate should have experience in design and marketing platforms such as Adobe Creative Suite, Mailchimp, or similar newsletter software, and WordPress. They should also have an outstanding work ethic, efficient time management, and be collaborative.

The Art Marketing Intern will analyze marketing data and produce reports, research digital and social media marketing keywords, and maintain websites and mailing lists. The Marketing Intern is also responsible for social media graphics, creative designs in Adobe Creative Suite, and some minor video editing. They will collaborate with the Advisory and Appraisal teams and general operations to provide administrative and operational support.

Read more about the open internships on our careers page. Please email your resume and cover letter to jobs@fineartgroup.com. Currently, we are not accepting phone calls about available positions. 

Managing a growing collection can prove to be a daunting task for even the most seasoned collector. “How do I keep track of my purchases? How do I coordinate a museum loan or exhibition? When should I get an appraisal? How do I find a conservator that fits my needs?” As a Collections and Inventory Associate, I find the answers to these questions and much more. Working with The Fine Art Group’s global team of specialists, we create a bespoke plan for each collection and manage every object with the utmost care.

SERIOUS COLLECTORS NEED PROFESSIONAL COLLECTION & INVENTORY MANAGEMENT

RELATED ARTICLES

• New Public Sculpture for Guangzhou, China
• The Secrets to Maintaining Large Collections
• The Fine Art Group’s Art-Secured Financing Solutions Continue to Meet Increasing Client Demand

OUR SERVICES

The Collections Management division at The Fine Art Group, represented by Luke Jacobs as the Collections & Inventory Services Associate for the Americas, aims to provide comprehensive and customized solutions to support clients in managing their collections effectively.

Selling your collection of art, jewelry, and other valuable assets can be a significant financial transaction. Therefore, it is crucial to understand the different options available to maximize your financial result.

It can also be an emotionally fraught process where the seller would benefit from the outside perspective of an art advisor looking out for the client’s best interest. There are various factors, from finding the right sales venue to getting the best price for your pieces, to consider. With knowledge, careful planning, and expert advice, you can ensure that you get the best possible financial result from selling your prized collection.

Join us to watch Kerry-Lee Jeffery, Colleen Boyle, Anita Heriot, and Kate Waterhouse discuss ways to maximize return of investment when selling collections of art, jewelry, wine, and other valuable collectibles.

PANELISTS

Colleen Boyle

Managing Director, Business Development & Philanthropic Strategy

Kerry-Lee Jeffery

Senior Director, Sales Agency & Advisory

Anita Heriot

President, Americas

Kate Waterhouse

Director, Senior Jewelry Specialist

RELATED CONTENT

• Selling Jewelry & Watch Collections
• 10 Reasons to Work with an Advisor for a Successful Sales Process
• Visit The Fine Art Group’s Webinar Library

OUR SALES AGENCY SERVICES

The Fine Art Group’s dedicated Agency team can add significant value through seamless sales management, financial reporting and marketing optimization.

We take care of every detail of the sale process, from initial valuation all the way through to post-sale reporting and analysis, ensuring that the client communication and involvement is tailored throughout.

See our Sales Agency Case Studies to learn more about our services.

MAJOR WEATHER EVENTS AND YOUR VALUABLES

El Niño 2023 is here, according to the US National Weather Service. While this natural weather phenomenon could make the Atlantic hurricane season below average, that doesn’t mean you have nothing to worry about. The United States is experiencing record heat waves, flooding, and forest fires. El Niño could cause further significant weather events in the winter, bringing heavy precipitation to Southern California and the US Gulf states (Texas, Louisiana, Mississippi, Alabama, and Florida). That translates to storms, flooding, and in California, mudslides. 

Some insurance companies pulling out of states like California and Florida have complicated the position some collectors find themselves in.

YOU HAVE TIME TO PREPARE IF YOU ACT NOW

Major weather events like hurricanes, floods, and wildfires can pose significant risks to your art and valuable possessions. Ensuring they are adequately insured and properly documented is crucial in safeguarding your investments.

We highly recommend calling your insurance broker to verify insurance coverage for all tangible assets. Determine exactly what insurance you have, especially flood insurance. Most property damage caused by weather events results from strong winds, heavy rainfall, and storm surges.

HOW TO REDUCE RISK & LOSS FROM MAJOR WEATHER EVENTS

FURTHER INFORMATION

• Watch Art, Cars & Collectibles: How to Mitigate Risk Before Disaster Hits
• Read more about how climate change affects art and how collectors protect their investments.
• Protecting Your Valuables From Loss

OUR SERVICES

Understanding value is the cornerstone to effectively managing a collection – and at The Fine Art Group, this understanding enables us to work as trusted fiduciaries for our clients and their objects. We are experienced in providing appraisals for various purposes and are specialists in unique and complicated appraisal scenarios.

8 Ways The Fine Art Group Can Assist Clients Selling Luxury Wearables

US Jewelry Advisory & Agency Contact

Kate Waterhouse

Senior Jewelry Specialist, Director

RELATED CONTENT

• Insider Look at Fine Art, Wine & Trading Cards
• A Jewelry Advisor’s Guide to Buying

OUR SALES AGENCY SERVICES

The Fine Art Group’s dedicated Agency team can add significant value through seamless sales management, financial reporting and marketing optimization.

We take care of every detail of the sale process, from initial valuation all the way through to post-sale reporting and analysis, ensuring that the client communication and involvement is tailored throughout.

See our Sales Agency Case Studies to learn more about our services.

Patti Wong, Founder of Patti Wong & Associates, and her successful acquisition of Gustav Klimt’s Dame mit Fächer (Lady With a Fan) on behalf of an anonymous Hong Kong client for a record-breaking $108.4 million was the main topic of Artnet News’ article, “Who Bought the Mysterious Klimt at Sotheby’s? An Equally Enigmatic Hong Kong Power Broker, Some Believe.”

Philip Hoffman, Founder and CEO of The Fine Art Group, spoke with Katya Kazakina of The Art Detective about clients’ interests in the most recent May auctions for the article.

Click here to read the full article on Artnet News.

Full article

Newsfeed image credit: Gustav Klimt, Dame mit Fächer (Lady with a Fan) (1917-18).

Anita Heriot, The Fine Art Group’s President of the Americas, speaks with Bowdoin Magazine, a publication for Bowdoin alumni, about her experience in the ever-changing art world and her role at The Fine Art Group.

Click here to read the full article in Bowdoin Magazine.

Newsfeed image credit: Cover of Bowdoin Magazine’s Spring/Summer 2023 issue.

Written by Zhanna Ter-Zakaryan, Associate, Art Advisory; Luke Jacobs, Collections & Inventory Services Associate; Charles Curtis, Wine Specialist & Advisor; Greg Adams, Digital Assets Consultant

THE SCOOP: #14 – June 29th, 2023

Our experts delve into the allure of the collectible whiskey market and its appeal to the next generation of collectors. We then focus on highlighting rising LGBTQIA+ artists and exploring their contributions to the art world. Finally, we provide an update on the exciting NBA NFT collectibles market, where traditional sports card collectors are venturing into the digital asset marketplace.

Whether working with a first-time buyer or an experienced collector, we support our clients across all aspects of the acquisition process. If you are seeking assistance with your collections, please contact our Advisory team.

COLLECTIBLE WHISK(E)Y

BY CHARLES CURTIS

Distilled spirits are among the hottest categories of collectibles, and whisky (or whiskey) leads the pack. To clear up the matter of spelling, it is generally the case that Scottish producers will spell their spirit ‘whisky,’ and American and Irish distillers will usually spell it ‘whiskey.’ However, this is not universally the case. With the proliferation of high-end labels, collectors interested in exposure to this market are spoiled for choice. However, a bit of background is in order since not all whiskey is created equal.

WHAT MAKES A WHISKEY WORTH COLLECTING?

Whisky is commonly purchased for consumption. To be considered collectible, a whiskey must have a viable secondary market. This presents a difficulty for U.S.-based collectors since alcohol is tightly regulated in the United States, distilled spirits even more so than wine. Despite this inconvenience, the collectible market continues to boom. On May 11th, Sotheby’s New York presented ‘The Legacy Collection’, a single-owner sale of 142 lots that is expected to garner between $1.4 and $1.9 million. The results suggest that collectors will pay up for the bottles they need, while there will be room for new collectors to get in at a reasonable price point. While the 53-year-old Macallan distilled in 1948 and a 40-year-old distilled in 1939 made $40,000 per bottle with premium or more, other similar whiskies did not sell. Sotheby’s regularly auctions spirits, as does independent wine and spirits specialist Acker, whose recent ‘Distilled’ sale was on May 31st. Most U.S.-based collectors still try to assemble a collection by buying bottles on release. To succeed at this strategy, knowing which bottles are most sought-after is necessary.

The largest share of the collectible market goes to Scotch whisky. Although there are today 143 distilleries operating in Scotland, not all of these produce collectible spirits. The Scotch whisky with the most brand visibility is certainly Macallan. The world record for the most expensive bottle ever sold is for the 1926 Macallan, sold at auction by Sotheby’s London in October of 2019 for £1.5 million. Other collectible Scotch whisky brands include Port Ellen, Brora, Ardbeg, Bowmore, and Springbank. Quality is a factor, but in the world of whisky, scarcity drives prices even greater than in other categories. The 1926 Macallan was one of 40 bottles produced, while Port Ellen and Brora are examples of distilleries that have closed, known as ‘silent stills.’

According to the Scotch Whisky Association, exports totaled £6.2bn in 2022 and reached 180 countries worldwide. However, the combined impact of Brexit and global economic and political instability have disrupted the secondary market for rare whisky, occasioning a correction of nearly 20% across all types in the past twelve months, according to Whiskystats.com. This website was established by Johannes Moosbrugger in the Netherlands, whose index demonstrated an increase of +191.27% since inception (January 2013) after considering the recent market correction.

The Scots sell more whisky than the American and Japanese distillers combined, but these categories are also very collectible. Worldwide, Japanese whisky is also a dominant force. Brands like Karuizawa, Yamakazi, and Hanyu are the stuff of dreams for initiates of collectible whisky. The most expensive bottle of Japanese whisky is the Yamakazi 55-year-old, which sold for HK$ 6.2 million ($795,000) in August 2020.

AMERICAN WHISKEY & YOUNG COLLECTORS

American whiskey also has its admirers. Perhaps the most sought-after brand is Pappy Van Winkle. Sotheby’s New York sold a bottle in December 2022 for $52,000, an astonishing 17 times more than its presale estimate. In March of 2022, the house conducted a sale exclusively dedicated to American whiskey, which sold for a combined $1.6 million. Sotheby’s noted that the category appeals to a youthful demographic, with more than 40% of the buyers under 40 years of age. Other brands of collectible American whiskey include Colonel E.H. Taylor, Michters, Eagle Rare, A.H. Hirsch, and Willett Family. Of particular note is the annually-released Buffalo Trace Antique Collection, which includes George T. Stagg, Sazerac 18 Rye, William Larue Weller, Eagle Rare 17, and Thomas H. Handy.

The database Whiskystats.com was established by Johannes Moosbrugger in the Netherlands. This index demonstrated an increase of +191.27% since inception (January 2013) after taking into account the market correction of -18.03% in the past twelve months.

CELEBRATING PRIDE: 5 YOUNG CONTEMPORARY LGBTQIA+ ARTISTS

BY ZHANNA TER-ZAKARYAN AND LUKE JACOBS

As our world and culture continue to evolve, artists in the LGBTQIA+ community are finding more acceptance than ever within the art world when it comes to expressing their identities and cultures. In celebration of Pride Month, below we spotlight five young LGBTQIA+ artists pushing the contemporary art world forward. By exploring their practices, this edition of The Scoop aims to highlight these artists’ professional achievements and their art historical contributions, both in the LGBTQIA+ community and the art world as a whole.

DORON LANGBERG

Radiant in color and quite often monumental in scale, Doron Langberg’s (b. 1985) paintings explore serenity, intimacy, and closeness. The portraits of his friends and lovers, their bodies often intertwined amongst themselves and with the surrounding landscapes, are conceived directly from life and are often painted en plein air. For the artist, the sense of a ‘living person’ and a lived experience in his paintings is essential. In a way, Langberg consistently blurs the line between abstraction and figuration, as his portraits are dissolved within their surroundings, evoking a sense of closeness and queer sensuality. As the artist puts it, “Queerness for me is not just a sexual experience, but a way of being in the world which affects every aspect of my life. Using intense colors and different paint textures and marks to create these everyday scenes, I want to connect with a viewer by speaking to our most basic commonalities – our bodies, our relationships, our interiority – rather than the social categories that may separate us.“

Doron Langberg currently works and lives in Brooklyn and was born in Yokneam Moshava, Israel, in 1985. The artist received his MFA from the Yale University School of Art and his BFA from the University of Pennsylvania. His works are currently on view at Rubell Museum in Miami (through November 2023), and previous group exhibitions included the Institute of Contemporary Art in Boston, the Institute of Contemporary Art, Miami, and RISD Museum, Rhode Island, among others. Langberg held his first solo exhibition at Victoria Miro in London in 2021 and is represented by the gallery.

SALMAN TOOR

Langberg’s contemporary and friend Salman Toor (b. 1983) focuses on the representation of day-to-day moments of queer men within cosmopolitan and domestic settings. The artist’s subjects, often engaged in routine activities, are fictional in nature but are meant to be versions of himself, his friends, and loved ones. As Toor places them in these mundane environments, he deals with the complex, multi-layered idea of what it means to be queer in society while also playing on how relatable these depictions might seem to the viewer. The rich brushstrokes pay homage to the Dutch masters, and the vibrant color palettes evoke a sense of ambiguity, vulnerability, and even anxiety, as the environments depicted by Toor may or may not be welcoming.

Born in Lahore, Pakistan, in 1983, Toor lives and works in Brooklyn. He studied painting and drawing at Ohio Wesleyan University and received his MFA from Pratt Institute in New York. Toor’s solo exhibition, originally on view at the Baltimore Museum of Art in 2022, is currently at the Tampa Museum of Art in Florida (through June 2023). Other solo exhibitions include the Whitney Museum of American Art, New York (2020-1), and at Luhring Augustine Gallery, New York (2021), which also represents the artist. Toor’s works have appeared in various public collections, including the Frick Madison, New York, and the Hayward Gallery, London.

RF. ALVAREZ

The notion of home is ever-changing, and for RF. Alvarez (b. 1988), this includes the physical environments, people, memories, and experiences through which this concept of belonging is perceived. Alvarez’s paintings depict safe and intimate spaces the artist has created with his husband and loved ones — environments that allow one’s identity and sexuality to be celebrated and fluid. Often placed in nocturnal and enigmatic settings, the figures are captured in fleeting moments, be it an intimate embrace at a large dinner party or a glimpse of the artist’s husband waking in the morning. The concept of home and belonging not being tied to a physical place goes beyond these shared moments as the artist explores his experience as a queer man of Mexican and Texan heritage. As Alvarez puts it, “A lot of my work is about the fallacy of the cowboy figure and its paper-thin vulnerability.”

RF. Alvarez was born in San Antonio, Texas, and currently lives and works in Austin, Texas. He received his BA from Wesleyan University in Connecticut and has held exhibitions at Alanna Miller Gallery, New York, Taymour Grahne Projects, London, and Ruiz Healy Gallery, San Antonio. Alvarez is represented by Alanna Miller Gallery in New York.

MICHAELA YEARWOOD-DAN

The work of Michaela Yearwood-Dan (b. 1994) aims to build spaces for the queer community, creating a sense of bliss and abundance. Community building and access are crucial components in her work: last year, she made a public mural installation for Queercircle, London, an LGBTQIA+-led charity, working at the intersection of arts, culture, and social action. Her lush paintings, works on paper, and ceramics build on her own personal narrative and reflect on the multitude of her influences, including Blackness, queerness, femininity, poetry, and Carnival culture in the context of her West-Indian heritage. Yearwood-Dan’s monumental paintings with abstract forms, heavy brushstrokes, and lyrical texts that blend with the thick paint go beyond clichés of representation, often giving an inviting feeling of home. The artist’s rich color palette has both personal and symbolic associations, as the bright hues echo the lesbian and bisexual pride flags, while her lyrical inscriptions on the thick brushes of paint create a sense of meditation, familiarity, and closeness with the viewer.

Yearwood-Dan attended the University of Brighton, where she received a BFA in painting in 2016. She recently closed a show at the Green Family Art Foundation in Dallas called Considering Female Abstractions, now on view at the Contemporary Arts Center in Cincinnati (through August 6th, 2023). Her work is in the permanent collections of the Hirshhorn Museum and Sculpture Garden, Washington, D.C., Institute of Contemporary Art Miami, and the Jorge M. Perez Collection, Miami, among others. She recently held a solo exhibition at Marianne Boesky Gallery in New York and is represented by the gallery.

KYLE DUNN

In his sensuous, intimate, and psychologically dense paintings, Kyle Dunn (b. 1990) reflects on queerness from an inward perspective as well as on its outward projection. Drawing inspiration from his own life and sources such as vintage gay photography, Greek antiquity, and film stills, the artist explores the dynamics of gay relationships not often represented in visual culture, along with gender roles and social expectations. Dunn’s figures include sculpted elements: made with plaster and foam, these relief paintings carry autobiographical and, at the same time, fictional accounts as they respond to social and even private expectations of masculinity. These sculptural elements, as well as Dunn’s intentional placement of his subjects often facing away from the viewer, create a sense of ambiguity: these intimate environments may evoke both peace and claustrophobia.

The sculptural elements of Dunn’s paintings reflect the artist’s study of Interdisciplinary Sculpture during his 2012 BFA at the Maryland Institute College of Art, Baltimore. He recently had a solo exhibition at P·P·O·W, New York, and is represented by the gallery. His work is in the collections of the Institute of Contemporary Art, Miami, the Sunpride Foundation, Hong Kong, and X Museum, Beijing.

NFT MARKET UPDATE

BY GREG ADAMS

NBA COLLECTIBLES MEETS NFTS

The world of NBA collectibles has expanded into the digital realm with the emergence of Non-Fungible Tokens (NFTs). These unique digital assets have revolutionized the way fans engage with and collect basketball memorabilia. After the recent 2023 NBA playoffs, we want to take a look at the new wave of NBA collectors. NBA Top Shot is an NFT platform that allows users to collect, trade, and showcase digital NBA collectibles as NFTs. NBA Top Shot NFTs are unique digital assets representing a specific moment in time during an NBA game, such as a game-winning shot or a memorable dunk. Each NFT is licensed by the NBA and the NBA Player’s Association and verified on the FLOW blockchain, ensuring its authenticity and scarcity.

The popularity of NBA Top Shot has multiplied since its launch in October 2020, with some NFTs selling for hundreds of thousands of dollars. The platform has attracted a wide range of collectors, including NBA fans, crypto enthusiasts, and investors. Many are former basketball card collectors and have transitioned to the new technology. NBA players have also shown interest in the platform, with some creating their own NFTs and partnering with NBA Top Shot to release exclusive collections.

NBA Top Shot has created a new type of collecting culture, where ownership and scarcity of digital assets have become highly valuable. The platform has also sparked discussions about the future of NFTs and their potential to disrupt traditional forms of art and collectibles. While the market for NBA Top Shot NFTs remains volatile, it has become a significant player in the growing NFT ecosystem.

NFT NYC 2023

The event this year was seemingly subdued as crypto winter kept a cold grip on the market. No Radio City Music Hall, no long lines, no huge sales, and far fewer community get togethers that seemed to be the highlight of 2022. It was a different mood for many that were in attendance, less celebratory but far more resilient.

Nonetheless, the culture was still very much alive. LTD.INC showcased a new way to use NFT technology as Wrangler teamed up with artist Jeremy Booth to create a custom “Western Art Dept” black denim jacket. The jacket had Jeremy’s art and an NFC (near field communication) chip that let anyone the artist met during the week scan his sleeve to receive a “proof of friendship” POAP with his art on it. The jacket was also paired with a token that verified ownership and authenticity. This particular practice may become more commonplace with luxury brands in the future as well for ease of tracking

Another highlight was a scavenger hunt around the city hosted by collector and influencer G Money and his Web3 company, 9dcc. Over three days, participants had to hit places around New York City to collect POAPs (Proof of attendance protocols) to complete the challenge. At the first stop, they were treated to baseball caps, which became ubiquitous with the event, and for those that finished, there was a chance at winning a Chromie Squiggle as a prize. Overall a unique way to provide a social and marketable event using the core NFT technology.

Christie’s hosted the Next Wave: New York Edit auction on their Christie’s 3.0 platform, ending with selling 16 lots. It was a mixed batch as far as meeting price expectations, with a total of 135.5311 Eth (~$253,000) spent on the sale.

While it was hard to compare to last year, this year’s conference was nothing to scoff at. Enthusiasts, collectors, and builders are pushing this technology further, and the applications continue growing.

*All images courtesy the artists and the respective galleries.

READ PAST ISSUES OF THE SCOOP

• Reintroducing The Scoop: The Next Generation Collector – March 9th, 2023
• The Scoop #12 – December 21st, 2022
• The Scoop #11 – November 22nd, 2022

OUR SERVICES

From our advisors’ strategic insight and clear guidance to our market-leading art finance and sales agency services, we help our clients build their collection, secure their investments and appraise their assets to realize their true value.

Disclaimer

Information in this report is compiled from a number of sources; The Fine Art Group does not make any representation or warranty, express or implied, as to its accuracy or completeness. The Fine Art Group shall not be liable for any errors or inaccuracies in this report or for any actions taken in reliance on information or opinion contained in this report. The Fine Art Group are under no obligation to update or keep current the information provided herein. Information in this report is provided solely for information and marketing purposes and is not to be construed as investment advice or a personal recommendation, nor as legal, tax, regulatory, accounting or any other specialist technical advice. Capital is at risk when buying or selling the types of assets discussed in the report, and any decision to do so is solely at the risk of the buyer or seller. Prior performance is not indicative of future results. Neither The Fine Art Group nor any of its directors, officers, employees, or agents accepts any liability for any loss or damage arising out of the use of all or any part of this document or reliance upon any information contained herein.

The report contains hyperlinks or references to third-party advertising and websites other than The Fine Art Group website. Any such hyperlinks or references are provided for your convenience only. We have no control over third-party advertising or websites and accept no legal responsibility for any content, material or information contained in them. The display of any hyperlink and reference to any third-party advertising or website does not mean that we endorse that third-party’s website, products, or services. Your use of a third-party site may be governed by the terms and conditions of that third-party site and is at your own risk.

Whether you are a collector who wants to sell a few pieces, an executor faced with the fiduciary duty of monetizing an estate, an heir who has inherited pieces they don’t want or need, or an institution deaccessioning pieces that no longer fit the mission – the process can be daunting, complex, and even emotional. Having an independent advisor by your side to guide you through the often-complex sales process can ensure successful results.

Kerry-Lee Jeffery, Senior Director of Sales Agency & Advisory at The Fine Art Group, offers 10 reasons to work with an advisor for a successful sales process.

10 REASONS YOU NEED AN ADVISOR WHEN SELLING ART, JEWELRY & OTHER VALUABLE COLLECTIBLES

US Sales Agency Contact

Kerry-Lee Jeffery

Senior Director, Agency & Advisory – Americas

OUR SALES AGENCY SERVICES

The Fine Art Group’s dedicated Agency team can add significant value through seamless sales management, financial reporting and marketing optimization.

We take care of every detail of the sale process, from initial valuation all the way through to post-sale reporting and analysis, ensuring that the client communication and involvement is tailored throughout.

See our Sales Agency Case Studies to learn more about our services.

KATE WATERHOUSE EXPLAINS THE LAB GROWN DIAMOND MARKET

There has been a deluge of advertising and conversation lately around the phenomenon of the “lab grown diamond (LGD),” also known as “lab created diamonds,” “engineered diamonds,” “cultured diamonds,” and even “eco diamonds.” But what are we purchasing precisely, and in practical terms, what should we consider before buying? Most importantly, should jewelry collectors be buying lab grown diamonds at all?

What EXACTLY IS A LAB GROWN DIAMOND?

The advertising is correct: A lab grown diamond is chemically a diamond and not a synthetic such as cubic zirconia or moissanite (both of which can yellow over time or become cloudy with age). Using a small sample of a natural diamond and adding a process such as High Pressure High Temperature (HPHT, which has been on the market for decades for other diamond purposes and treatments) or Chemical Vapor Deposition (CVD), it was discovered that a diamond could be “grown” within the lab.

It is worth confirming that lab grown diamonds have similar characteristics to natural diamonds. However, a buyer would still want and must be mindful of color, clarity, cut, and potential fluorescence. Like with a natural diamond, these characteristics will also affect the value (i.e., a lower color and clarity grading).

The difference is that LGB diamonds are not created by nature’s magic process occurring over millions of years but could be a “quick fix” for those looking for an affordable diamond option.

HOW ARE THEY VALUED: LAB GROWN DIAMONDS VS NATURAL DIAMONDS

When we are exploring beyond natural diamonds, consideration should be given to the LGD market; however, only if we appreciate and realize that the LGD is not a natural diamond.

Understanding the differences between these categories is essential because natural diamonds are valued based on their rarity and the current market trading price. The lab grown market does not yet have the historical trading charts to watch the long-term growth and contraction and thus should be approached and considered for purchase with caution, knowing that the future is entirely unknown and currently unregulated.

COMPARABLE MARKETS: NATURAL VS CULTURED PEARLS

We could discuss a different example where the product looks, smells, and acts like a genuine product. One immediate example is the natural saltwater pearl vs. the cultured pearl.

Authentic saltwater pearls develop within a mollusk (oyster) through a natural process. In contrast, a cultured pearl develops when a shell bead or natural irritant is introduced to the mollusk. The culturing process creates layers of luster (known as nacre) over years of care to produce the beautiful, cultured pearls we adore. By default, the origin story of those pearls has taken a different path to create a gem with which we are so familiar, and the buying public is comfortable with this category.

The issue with a lab grown diamond is similar. However, the difference is that instead of a cultured pearl being crafted on a farm, the LBD is created by technicians in a lab. The origin story differs from a diamond created by nature’s forces and thus is likely to effect the long-term potential value.

WHEN YOU SHOULD CONSIDER A LBD OVER A NATURAL DIAMOND

Many retailers will suggest that deciding what kind of diamond to acquire depends on what one can afford. A 2-carat lab grown diamond will cost approximately $2,000, while a natural diamond will cost upwards of $20,000 for the same weight, color, and clarity. In addition, some will try to encourage you to think “carbon neutral” or conflict-free. The answer to this lies entirely in the intended use.

VINTAGE & SECONDARY DIAMOND MARKET: SUSTAINABLE CHOICE WITH LONG-TERM VALUE

For those interested in sustainability, I offer the example of the secondary market to solve the problems of carbon neutrality, conflict-free, and affordability. I have had the pleasure of putting many brides into beautiful, vintage diamonds purchased privately or at auction.

The result is a purchase with an intrinsic value that has stood the test of time for generations, an addition to one’s portable wealth portfolio with historical data and fewer unknown factors in the general jewelry and gem marketplace.

However, if your goal is to purchase a large, attractive, and chemically identical diamond without concern for long-term financial viability, then the LGD market could be a good option for you.

Technology will evolve, and LGDs will continue to exist, as has the NFT, cultured pearls, and synthetic sapphires or rubies. But as with all of the above, jewelry advisors will continue to monitor the markets appropriately, recognizing that many lab grown diamond retailers have already begun to discount these goods. The market continues to stabilize, and new retailers will enter lab grown gem space.

I will end with a reminder to consumers to consult a jewelry advisor before any large diamond purchase. A jewelry advisor will clarify any confusion between the markets and assist you in better understanding your long-term financial goals related to your jewelry collection.

RELATED CONTENT

• Watch TFG’s New York Luxury Week 2023 Webinar: Top Jewelry Picks & Lots to Watch

OUR SERVICES

Offering expert Advisory across sectors, our dedicated Jewelry Advisory Team combine strategic insight with transparent advice to guide our clients seamlessly through the market. We always welcome the opportunity to discuss our strategies and services in depth.