THE FINE ART GROUP AT LONDON ART BUSINESS CONFERENCE
On September 4th, Freya Stewart will be speaking at The Art Business Conference.
Now in its 6th edition, The Art Business Conference is an annual one-day conference, held in the heart of London. Through paneled discussions and speeches by leading experts in art, business, and technology, the conference provides an informed global perspective on key issues of the art market, and looks ahead to potential future developments.
Freya Stewart will be speaking on the subject of Demystifying Art Finance in conversation with Financial Times reporter Melanie Gerlis. Their session includes,
“Whether you own your own art collection, are an advisor seeking more insight for clients, or if you just want to know more about this rapidly developing market, this ‘need to know’ expert session will cover the ins and outs of art lending from loan costs and terms to financing for art business.”
Read more about The Art Business Conference here.
HOW PHILIP HOFFMAN BEGAN ART COLLECTING
In my early twenties my brother and I were captivated by the illustrator and satirist, William Heath Robinson. It was one of these absurd and charming drawings of an ad hoc contraption that became the first work I ever purchased. I think it was Robinson’s imagination that had me so intrigued. Today, the walls of my study are covered floor to ceiling with the original cartoons from the early 1900s.
A little later I began to collect antiquarian books. The obsession started when I was studying at York University; I used my student loan to buy an 18th century rare book on wine for £100 – thus complimenting my then and continuing interest in wine! A few years ago, when we renovated our home in London, I had a library specifically built to house my ever increasing antique and rare books collection. However, I will always value my first, and it has stood proudly in my library for over 40 years.
Since I started working in the art world, at least 30 years ago, my taste has slowly developed and changed and I’ve been heavily influenced by my wife, Nicky. It was Nicky who encouraged me to buy my first ‘real’ picture, a Bridget Riley at FIAC in Paris. I have always been interested in Modern British art, and I think Riley is one of the most revolutionary British painters of them all and I am looking forward to her upcoming retrospective this year.
THE FINE ART GROUP: LEADING ART FINANCE PROVIDER
With the acquisition of Falcon Fine Art’s art-secured loan book, The Fine Art Group further cements its position as a leading art finance provider. It marks the first significant consolidation of specialist art lenders in a maturing and growing art financing market.
“We are delighted with the acquisition of Falcon Fine Art. This inaugural art-financing business consolidation strengthens our long-term commitment to being the leading art finance provider to collectors and owners of high value art globally. This is an exciting time for our business as demand for our art financing product increases – we look forward to continuing to deliver the best art lending service to our clients.”
– Freya Stewart, CEO of The Fine Art Group’s Art Lending business
The Fine Art Group founded its art-secured lending practice three years ago to provide specialist art-secured financing to collectors and owners of high-quality art and jewelry, under the leadership of Freya Stewart. Having established a strong track record in the art lending space, with a commitment to provide financial solutions for a growing global client base, The Fine Art Group was the natural buyer for Falcon Fine Art.
Kamel Alzarka, the Chairman of Falcon Group, said: “This sale makes perfect sense, as we continue to focus on the growth and expansion of our core business, providing solutions for our large corporate clients.”
Meet Roxanne Cohen our New Director of Art Advisory
Born and raised in London, Roxanne Cohen comes from an art collecting family. After 30 years in the UK, she relocated to NYC, the center of the contemporary art world. With years of experience as an independent art consultant, Roxanne now brings her skills to The Fine Art Group. For 5+ years, she worked at Christie’s Auction House within the Post-War and Contemporary Art Department and Client Advisory. Her extensive knowledge of the primary and secondary art markets helped clients build unique collections of work by various artists, both emerging and blue chip.
Roxanne has a Masters in Art Business from Sotheby’s Institute which is affiliated with Manchester University, a BA (honors) in History of Art and Architecture from Manchester University (UK), and a Certificate in Collections Management from Sotheby’s Auction House.
BUY WITH YOUR EYES, THEN WITH YOUR MIND
By this I mean, buy what you feel passionate about and then validate the purchase with your due diligence.
Loving the work must be the most important factor. You should take time to develop your eye, research and learn what it is that you love. Visit Museums, Art Fairs, Auction Houses, Galleries and follow people in the art-world on Instagram. Read as much as possible on artists you’re looking at, check their resume for important gallery and museum shows. Did an important collector own the piece you’re looking at? Has it been exhibited before? Have you checked auction results to make sure that you are paying fair market value?
Make sure you see the work in person. Photographs and PDFs can be digitally enhanced. It is also crucial that you have the correct measurements. Make sure your measurements reflect the size with frame. The work does not necessarily need to match an interior but should fit well in the space. Buying art for your home means that you will live with it every day; you don’t want to regret an ill-informed decision.
Looking for a work by an established artist on a lower budget? These blue-chip artists may remain out-of-reach for the collectors with lower budgets but there are more accessible works out there. An artist’s early drawings, studies, print editions for example, represent a good starting point for anyone wishing to own a work by a blue-chip artist. When buying, consider looking for works that capture the most distinct elements of an artist’s practice.
Don’t just ‘buy into the hype’ especially with young emerging artists. If you do, make sure you will love the work in the long run, as the emerging market can be very volatile.
It’s also important to buy quality not quantity when investing in art. Invest in fewer pieces that are higher quality. Art is a purchase for life, so it’s better to collect slowly with a focus than try to rush.
An art advisor can be used along the entire spectrum of the collection process – from early days when a simple educated walk through a fair may be a great start, to pricing works before acquisitions, to developing a comprehensive collection management strategy. Having a trusted advisor to work with can be a major benefit as they know you, your taste and are committed to building your collection with your values in mind.
OUR SERVICES
Offering expert Advisory across sectors, our dedicated Advisory and Sales Agency teams 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.
2017 Agenda: Personal Use of Business Autos, Millennials at Work + More
What’s on the agenda for the Personal Lines Practice Group in 2017?
Suggestions ranged from personal use of business autos to hiring, handling and keeping millennials at this month’s teleconference, chaired by George Pester of Johnson Kendall Johnson.
THESE WERE AMONG THE TOPICS
- Training new producers
- Social media campaigns that keep the agency’s name in front of clients and prospects
- Social media’s role in client retention
- How your agency can increase visibility through volunteer days, networking groups and other efforts
- Improvements in the claims process
- Risk management techniques that lower risks
- Technology and risks, such as helping clients in geographic areas where alarm systems are required
- Segmenting clients and the use of service center
- How to hire, handle and keep millennials
- Time management
- Client retention strategies
- Motivating service teams to offer additional products to clients
- Community events that draw business to the agency
- Personal use of business vehicles and insurance pitfalls
- Encouraging referrals from commercial lines
- Structuring service teams
The next teleconference will be Dec. 14 with Colleen Boyle, senior vice president-national sales director of The Fine Art Group, as a guest speaker. Her topic will “Completing the Picture of Wealth: Managing Tangible Assets.”