2019 remains to be an exciting year for the art market if 2018 is anything to go by with modern and contemporary art continuing to dominate the headlines and the trend of investing and buying art becomes more and more part of people lives.
Investing in art still remains something done by a select group of people but the introduction of art fairs all over the world are educating and broadcasting different types or artists and the sky high auction prices that some works are fetching continues to attract money to the sector.
On a personal level I have now completed my Art and Business course at Christie's and my collection and following continues to expand with just over 10,000 visitors to the website last year and just under £10,000 worth of sales through the website.
We have introduced collections and consultancy services to the website. These allow fellow collectors and art enthusiasts to purchase groups of artworks and also have one to one consultancy sessions about buying, selling and collecting art
Upcoming Art Events
As August comes to an end the art market starts to awaken with exhibitions, auctions and solo shows. The art market continues to perform well with Kaws’ works flying off the shelves and the rising prices of his prints showing a never ending pattern. The Banksy greatest hits show at Lazarides has definitely given his originals market a boost but prices of his prints are lagging with many signed prints now available for under £20k. Examples that I have personally seen are Jack and Jill, Every Little Helps and Chocolate Doughnuts, presenting a opportunity which is tempting to take a bite at.
Please see below a list of those shows and exhibitions that have caught our eye and those that we will be watching closely.
20th September - Christie’s prints and multiples
21st September - Chiswick contemporary and urban art
4th-7th October -Freize art fair
4th-7th October - Moniker Art Fair
30th August-12th September Mr Jago Unit London
3rd-9th October Jose Parla -Ben Brown Fine Arts
13th September – Conor Harrington- The Story of Us and Them- Heni
Art has been an asset class for many years, but despite its long lasting history it rarely features as an obvious and regular investment choice for the majority. It is viewed as an asset class for the rich, one where only the elite have access to, however over the past ten years things have changed dramatically.
Technology has made art visible and accessible to all. With databases and records of past sales now freely available it makes valuing art a much easier task than it once was. The introduction and popularity of prints has meant you can now invest with just a couple of hundred pounds. Below we explain the three ways art can be bought to those that are looking to get that toes dipped into the water.
Similar to financial markets for equities and debt there is a primary art market where artists first release their works. This is often done through solo shows or via galleries. Those artists that are in demand will often sell out works in minutes so it's important to follow these artists and galleries for pre-releases. Examples of primary market dealers are below
-Hang Up gallery
This is where the majority of art is traded and very often this is where primary market purchases can be sold. Auction houses are the most popular places to pick up pieces of art, however the transaction fees can be very high(20-30%). It is therefore better value to buy artwork privately. Often through brokers or galleries that often take a much smaller commission (5-10%)
-Urban art association
Direct from artist
Lastly, and often the most difficult is buying from the artist direct. Very similar to private placements in financial markets this is often only the option of a very select few who have strong connections with the artists. Often supporting them from very early days.
With further technology changes it will become possible to purchase shares in artists works, further opening up the art market to more and more people. The introduction of blockchain technology is already having an impact as a few start up firms introduce shares in artists works. This should, and I believe will, open up the art market to more and more investors.
For more information and where to start on investing in art, please don't hesitate to reach out.
Making the segue into the art-world can, as we adamantly recall, be daunting. How exactly is art valued, bought, sold, appreciated, collected… and so on and so fourth.
Salient questions all young collectors ask; which ‘Christy’s All Access Workshops’ now seek to answer. The prestigious Christy’s (King Street, London) have planned a series of six introductory monthly talks at their King Street casa which provide, their website claims, ‘an exclusive view to the inner workings of the art and auction worlds. Step behind the scenes for an up-close and personal look at objects in our warehouses and enjoy exclusive, private tours led by our specialists.’
Sounds promising, sounds reputable.
We followed our fiendish art gut and ‘stepped behind the scenes’ of their ‘How to Auction’ talk in June. To test if the proof really was in the paint-pot.
At 18:30 we arrived, welcomed with champagne and an intimate crowd of 10. The talk reinforced prior knowledge was fun, educational.
Here’s the 5 points we thought most useful to a newbie:
May has been a particularly busy month for the artists that we follow, from a new exhibition at Maddox gallery from the Connor Brothers to a number of street art auctions happening across the globe. The consistent theme across all events has been that the artists that we follow continue to be in strong demand.
I visited the Connor Brothers exhibition one day after the private view and over 50% of pieces were sold, an encouraging sign given the price increases that were on show. Highlights include the large canvases aswell as the sketches downstairs,which demonstrate the work and processes that the artists go through to create the large pieces. Another artist that has been in demand this month has been Kaws, which some eye watering prices being set. Paddle8 has seen his recent limited edition wooden sculpture go for upwards of $40,000, with his prints trading in the range of $10-15k, which makes our Paper Smile piece look good value.
For those interested, ten of our pieces will be up for auction at Chiswick auctions in June, highlights of which include the Kaws Paper Smile, as well as our Conor Harrington Modern Monarchy, which is beautifully framed by John Jones. As a result those works that are listed in the auction will be taken down from the website once the Chiswick auction catalogue is released.
In 2010, out of curiosity, a piece of art was purchased. Over a decade this small curiosity for urban and contemporary art became a collection (obsession) of 80 pieces. Hicks and Stevens realised (finally in 2017) there was no longer any uncovered wall space in their London flats and although attempts were made to cover the ceilings, the floors, their beds; they chose instead; to share and sell their art.
From the lenticular distortions of Adam Neate to the tour de force of political satire: Banksy. Hicks and Stevens have collated and nurtured perceptive talent and shared their homes with remarkable imagination.
The collection has harmony: a distinct balance of both the well-known and the undiscovered artist. This broad but intricate repertoire includes: the bold and daring prints of Conor Harrington, Tracey Emin’s intimate work and the powerful symmetry of Damien Hirst.
The collection envelopes geography. Featuring the organic and depth of Jose Parla and the dramatic shots of world-renowned, French photographer JR.