The Four Ps of Art Advising
Now that you know what an art advisor is, you may be wondering how advisors work exactly 🤔. I generally like to take my clients through what I call the “Four Ps” of the advisory process which are the following:
2️⃣ Plot Out
PLAN. The first step is always to plan. Through initial discussions with the client, I try to understand their goals and tastes as much as possible. Do they want to refresh the collection? Upgrade? Donate? Find a specific treasure? There can be many different motives for building or refining a collection so it’s critical to listen carefully and discuss all the different options when planning out your strategy. It’s also important to take into consideration the different sub-markets within the overall art market when determining the best strategies to pursue.
PLOT OUT: Next, for acquiring art, we survey the space and develop a plan to allocate the art. While art doesn’t always end up where you originally intended it to go, it’s helpful to review floor plans and select walls to bear in mind when searching for art. Remember to take lots of measurements! If selling art, we thoroughly review the existing collection and can assist with cataloguing using secured software.
PROCURE: Now the hunt can begin! We get out our calendars and schedule visits to fairs, galleries and artist studios. This step also involves extensive due diligence–evaluation, research and analysis. The art search can pretty much begin right away when buying. Selling generally has a longer lead time. It is a beautiful moment to witness a client fall in love️ with a work of art—especially if their partner agrees!🤸♂️
PROTECT: Lastly, once the art has been selected and the titles have legally transferred, efforts to help preserve the art’s longevity and value are set in place (ie. framing, cataloguing, insurance, etc.). My hope is not just to build a long-term relationship with each client but to ensure their art lasts for generations to come!
Contact us for a complimentary first consultation! Email: email@example.com