We often talk about Art Advisory as a collecting assistance service, often carried out by independent figures operating in the art market, but also from other less specialized sectors in the field of art but users of the same who have prevented the service from finding the right place.
A service that in Italy is poorly regulated and for this reason still too fragmented and confused. The collector is increasingly prepared thanks to the means of communication, the deep knowledge of gallery owners, dealers, dealers and the professional figures who work in increasingly structured auction houses. A "system" able to perfectly compensate the needs of the user of works of art.
For years, even financial realities have been trying to set up an Art Advisory service without ever being able to structure it as it should be done. Wealth Management speaks of it as a new "asset" but then this is limited to being a little-felt and if managed consultancy section, often within those who decide its characteristics without having a scientific committee. Apart from some cases, where the service is correctly coordinated from the inside with prepared figures, for the majority of cases it is entrusted to independent external operators not exclusively, thus creating a simple "accessory" service and not personalized to the characteristics of the same reality financial.
The Art Advisory service should not be seen as a financial asset but as a customer loyalty service, who finds in an expertly trained interlocutor a consultant to share a passion and at the same time learn about the tools needed to enhance one's collection. From here, trust can arise and then evaluate what to do. A collector, if there really is no need, does not sell his artistic asset to invest in forms of financial return, but if he does so it is to protect the invested capital and reinvest in art or find solutions to succeed the heritage. Therefore the role of the art advisor in Wealth Management finds concreteness above all in customer loyalty who will be the assist for the private banker.
The example that Art Advisory should be a well-structured service comes to us from the large auction houses, since they have well organized the assistance service for collecting and evaluating any work that is contextualized to the real market situation. We well know that art undergoes various factors that determine its value, such as trends, often given by the international choices of collecting. Now even those national auction houses that have returned to register increasingly significant turnovers are working to assist their customers at 360 degrees and not only to sell or buy but to better retain customers and potential customers who intend to approach collecting even starting from modest values.
And now it is up to the galleries to offer an Art Advisory service, trying to offer not only the works and artists treated but also others present in the complex world of art.
Gagosian Gallery, Inc., announces the launch of Gagosian Art Advisory, to be led by Laura Paulson; the appointment of Andrew Fabricant to the newly created position of COO of the gallery; and the establishment of a global advisory board at the gallery, consisting of senior directors who oversee business strategy and development, artist relations and exhibitions, information and technology, and infrastructure. The board of directors reports directly to gallery founder Larry Gagosian.
Innovation has been a driving force for Gagosian throughout its nearly XNUMX-year history. The creation of Gagosian Art Advisory and this new management structure will serve to enhance client relationships, increase global reach, and ultimately maximize the platform to showcase artists' creative visions for years to come,” said Gagosian.
Gagosian Art Advisory it is an independent group distinct and separate from Gagosian. It will provide a full range of collections management services for individuals, family offices, estates and institutional clients to address the responsibilities and management of a collection, including valuations and conservation. The group will also advise experienced collectors on the management and growth of their collections and mentor new collectors as they begin to navigate the complexities of the global art market.
Gagosian is the first art dealer to launch an independent consultancy business which will seek to meet the growing demand from collectors for independent art consultancy services.
Ms. Paulson, former global president of Christie's 20th Century Art, is a world leader in the art field with extensive experience developing collections and advising collectors over the years.
“Throughout her career I have watched Laura provide individuals and families with invaluable experience. She is particularly well prepared to lead a state-of-the-art independent advisory group that will strengthen these long and trusted relationships,” Gagosian said.
“Throughout my career, I have had the privilege and honor to guide and advise wonderful families and individuals as they build their collections and plan their estates, and assist their museums and institutional giving. I can't think of a stronger partner than Gagosian,” Ms. Paulson said. The new management structure, with Mr. Fabricant as COO and the Advisory Board of Directors, also marks the next stage in Gagosian's development as an international high-performance gallery known for the enormous skill set possessed by the company's most esteemed senior staff . With operations spanning sixteen locations in seven countries, it has become essential to formalize a system that exploits the opportunities and embraces the entrepreneurial spirit that has led to Gagosian's success as a venue for its artists and hub for its clients. A highly regarded and experienced art dealer, Mr. Fabricant began his professional career with Gagosian in 1983, staying for fifteen years, eventually rejoining the gallery in 2018.
“Andrew has earned a stellar reputation in the modern and contemporary art world for his knowledge and comprehensive understanding of the international art market. Taking on this new management role reflects a natural progression in his already illustrious career,” said Gagosian.
In recognition of their significant contributions to society, the following high-value professionals have been named founding members of the Advisory Board: Andy Avini, Serena Cattaneo Adorno, Virginia Coleman, Jean-Oliver Després, Chrissie Erpf, Andrew Fabricant, Pepi Marchetti Franchi, Mark Francis, Victoria Gelfand-Magalhaes, Melissa Lazarov, Ken Maxwell, Alison McDonald, Deborah McLeod, Frank Moore, Louise Neri, Gareth O'Loughlin, Sam Orlofsky, Stefan Ratibor, Nick Simunovic, Rebecca Sternthal, Kara Vander Weg, Millicent Wilner ed Ealan Wingate. Gagosian and Matthew S. Dontzin, founding partner of the New York law firm Dontzin Nagy and Fleissig, will serve on the Advisory Board.
