Art Expert and Consultant Jason Colcin-Carter Talks About The Next Generation Of Artists Whose Artwork Is A Must-Have For Investors.
“Great artists are like loaded guns. They are dangerous in anybody’s hands.”– Peter Brant Founder of The Brant Foundation, Inc. and The Brant Foundation Art Study Centre, Entrepreneur, Manufacturing Executive, Philanthropist, Sportsman and Art Collector
Over the last decade, the perception of Art as an Alternative asset class has shifted in the public eye to become a bona fide asset class in its own right. The Art Market overall has expanded exponentially; especially in the contemporary art market. Growth in new regions such as Brazil, India, Asia, & importantly China has catapulted the size of the Art market forwards.
These new economies have created new clients with interest, opportunities, and artists within these regions with a global voice and the financial support to grow their practices. There is a global faith that contemporary art is considered a unitary store of value, as much as all other Investment classes such as stock shares, precious metals, and Old Master paintings.
There are so many appealing aspects to the Arts. The international element of the market, travel, new culture & new artist discovery, Art Fairs, the fact that one can enjoy investments as opposed to a relatively passive experience with many other investments and acquisitions. One can lend work for others to enjoy and support new talent.
A decade ago with the last financial crisis creating so much global disharmony, embracing the Arts and supporting the creative industries has helped society to overcome some of these harmful elements. It is well documented that during periods of economic turmoil and hardship the creative industries always generate new ideas upon which to go forward. As a small component of that situation, it is gratifying.
How Art Investment Has Changed Over The Last Ten Years
With the growth of social media, some artist voices do not get heard as loudly as they should or deserve. Others receive a disproportionate amount of attention. Some of the younger galleries disrupting the traditional gallery system are doing so via social media, in particular, Instagram. This can be a useful resource which a Client may choose to utilize at varying stages of their Collecting. A Client may engage with a Consultancy firm to benefit from professional analysis.
It is quite easy to be swayed when reading specific social media posts. I am all in favor of Social media, but it needs to be considered as only one factor out of many in an analytical process.
For example, when there is the platform of Kim Kardashian with 190 million Instagram followers and that of the Louvre Museum with just 1 million then it is possible to concede that opinions can become skewed – clients engage our services to overcome such obstacles.
The last decade has seen the rise of new wealth and affluence in numerous regions globally. Significant new collections & collectors, Philanthropy, Foundation Creation, and even private museums are now a significant component of the Global Arts scene.
For example, the Workplace Foundation based in the North of England is a new Foundation, which aims of supporting emerging and under-represented artists, and improve the cultural landscape and social fabric of life across the UK. Founding Patrons are Sir Antony Gormley, & collectors Doris Lockhart Saatchi, and Robert Devereux. Its unique focus is to support and connect the essential and yet fragile art scenes outside of London to an international audience.
Some of the artists that have come through this Foundation are 1) Marcus Coates, who has strong International exposure in museums, private collections, as well as curated exhibitions. 2) Laura Lancaster, a UK painter who has gained the same international exposure and career trajectory as Marcus.
This Foundation proves an example of what might be possible to achieve in other areas of the world succinctly. Sometimes by linking Foundations together from differing regions, magic can be realized.
Many long-standing relationships with many of the leading international Institutions, Museums & Foundations are rewarding. As well as the discovery of newly-created Private Museums, Private Foundations, & Patrons Groups. They provide client specific holistic programs.
Additionally, museum donations do not just enable Patrons to mix with like-minded collectors, and leading gallerists and facilitate access to artists’ works, but also advocates become aware of artists in varying medium and areas of interest directly via studio visits.
For instance, Serpentine Council membership in London offers one of the most excellent offers, as does the International Council of the Louvre and International Council of MOMA New York. Patronage entitles donors to many international opportunities that provide exclusive access to events.
What Drives Investors When Looking For Building A Portfolio
Each Client has a different set of interests for their collecting needs and plans. The golden rule a Client needs to embrace is that they must enjoy, like and covet each piece. Markets may change and should that occur in a market within which a Client has been active. Then it is crucial to receive pleasure from each piece still.
Some Clients choose to become more focused on acquiring newer artists and by doing so, they become Patrons of the artists through multiple purchases, enabling the artists to grow their practice. This strategy can then lead to the creation of a Foundation for such specific aims.
It is possible to create a new body of work by a movement of a single or a group of artists. It is achieved by packaging and marketing, and it is one of the methods to create a massive impact and generate new value within the market by expansion strategy.
For example, a current opportunity to accomplish a movement as such would be an incorporation of the Surrealist Movement from a specific region. One hundred artworks have been secured discreetly over time not to arise market interest, and there are plans for several book publications in conjunction with leading Art Historians & publishers, planning museums, and institutional exhibitions. Moreover, continuing to acquire works through auction and private sales would also make a remarkable improvement.
As I mention below, buying into a new body of work in a different medium by an established Artist, such as Renee Magritte Photographs, is also an excellent Investment focus.
Auction houses have multiple Investment opportunities that a Client can embrace for financial investment, such as Third-Party Guarantees. This auction house model has unquestionably evolved in the last 24 months. Guarantors can be rewarded with acquiring a work at a significant discount or gain a percentage from a share on the overage when outbid on an item. Thorough due diligence analysis is essential when considering becoming a Guarantor and having consultants who enjoy very close relationships with the auction houses.
Other examples of client interest would be Investing in the production of prints and multiples and making a market by creating a new body of work in which you have a stake.
Creating a new collection can be a liberating experience. I am currently in the throes of working on a single artist collection for an Asian Client.
Acquiring for investment purposes needs a specific mix of opportunities to be in place. It would encompass a whole other article, but as an example for a pure Art Fund, one would look at ratios of circa 40% Old Master and Impressionists, 40% Post-War and Pop-Art and 20% Contemporary Art including embracing some or all of the other elements mentioned within this section above.
As I work with auction houses to acquire the choice pieces as they come to market, I understand that the best opportunities arise from contemporary collections that choose to hold their acquisitions for periods of 10 years plus. When being considered by galleries for permission to acquire artists’ works that are highly sought after, this medium to long-term strategy is essential, if one had not been buying at an early stage and become a Patron of the artist from the outset.
Trusted Sources For Art Investment
Clients look to consultancy and advisory services to navigate through the various steps of Art Management to avoid any problems in the acquisition or divestment process. Consultants work closely with and engage Art Historians, and leading Curators for verification purposes, and also to continually be aware of upcoming market plans. Institutional Clients may also benefit from the ability to access works when those are to be decommissioned.
My close network comes from three generations of collectors facilitating the knowledge of where works are located and how best to navigate aspects of the market. Personally, knowing and having access to the older established collections as well as multigenerational collections & and their owners allow a level of trust and access when sourcing Artworks.
Specific in-house and external analysis are other essential elements that provide comfort and assurance to Clients. Such analysis is complemented by market research on upcoming museum exhibitions to analyze which client’s works may be suitable to be lent. This enhances the provenance of the works – analysis of specific artists, regions, Art Fairs and other fields as requested and specified by Clients.
Our colleagues, who are taste or trendsetter Curate and Industry experts, are invaluable resources to harness when planning with Clients. The way they understand, analyzing and integrate gallery programs with Art Fairs exhibitions, Biennials, Museum Exhibitions, and Auctions is the most crucial research upon which vital strategic decisions are made. An example of this would be the current Keith Haring market.
A brief overview of the top-end of the Art market can be assessed by reviewing the New York Auctions of November 2018. At the highest end of the market, prices are perceived to be being propped up by financial guarantees. There is no shortage of strong stock available. Competitive estimate prices drove many trophy-asset owners negotiating highly advantageous terms due to intense competition between the auction houses. Guaranteed lots, including third-party guarantees, accounted for 60% of all final sales. Guarantors can be rewarded with the acquisition of work at a significant discount or gain a percentage from a share on the overage when outbid on an item.
Current Artists and areas that Jason is championing include:
1) Nigel Cooke, a UK painter who has had his first UK museum show in London’s Hayward Gallery in February 2019. A Professor of London’s Royal Academy, he works on large canvasses and is already held in many leading international Collections.
2) Ali Banisdr, an Iranian born painter, instantly selling out all his exhibitions.
3) Jonas Burgert, a German painter who has just completed several museum exhibitions back to back. The market is now demanding his drawings due to lack of supply of his canvasses.
4) Yayoi Kusama continues to be in high demand, with both her studios’ paintings and sculptures.
5) UK photographer Don McCullun is to hold a major retrospective in London’s Tate Museum in early 2019, with previously unreleased works becoming available to acquire, and shifting the price points of existing works upwards just before the Museum show opening, now is the perfect time to acquire works pre-price rise.
6) Guillermo Garcia Lorca, a Chilean painter whose work I have been cataloguing over the last two years in preparation for a book to be published early 2019, with both Museum exhibitions planned over the next few years and a highly successful Museum exhibition just completed this year in Museo Belles Artes in Santiago Chile. He is in his early 30’s with 5 Museum shows under his belt and being collected by some essential and revered international collections.
7) Keith Haring will have a large retrospective in the UK in 2019. It has been driving market demand forward throughout this year in both Auctions and private sales and will continue to do so into next year. Some incredible works on display at Art Basel Miami this year.
8) African Arts & Artists is a new area for several of our Clients and is a growing part of the Market. We have been successful at Auction and within the Gallery system in these early stages in acquiring pieces that will comprise focal points of on-going Collections.
9) Philip Colbert is a Scottish artist who has come to prominence in just two years for his paintings. He also designs wearable art and furniture. This year he has held two museum shows in China and has several more Museum shows planned for next year timed to coincide with both Gallery exhibitions in and outside of the Hong Kong Basel fair in March.
10) Julian Tschollar is a Swiss painter, five years out of art school, painting large on a scale canvas and being acquired by prominent European and US collections.
Examples of 2 new highly desirable and sought-after bodies of work that have recently surfaced onto the market are:
1.The paintings by the photographer Irving Penn. This is a very limited rare body of work that museums are actively acquiring. Those collectors with a focus on the medium of photography also realize how these works complement and enhance their current collections.
2.The photographic body of work by the Belgium painter Rene Magritte. These early photos range from complete works in themselves to studies for his paintings, including some of his most iconic works. As the supply of Magritte paintings each year becomes more limited, the opportunity to acquire suites of work by an artist in another medium is a rare and exciting opportunity. Currently, the works are being catalogued, with Museum exhibitions being planned – already Museums and leading collections are acquiring these works.
Jason Cochin-Carter is an avid Art Collector and Expert of Arts with an established International Advisory and Consultancy Practice based out the United Kingdom for his international Client base. As an Angel Investor, he also manages, mentors, and supports young entrepreneurs and Startups by reviewing business plans, presentation, and delivery skills and assisting in making targeted contacts and that springboard their careers and projects forwards.
Jason has created Investment Funds based out of Luxembourg for prominent US families and was an Executive Board Analyst for the main board of one of the USA’s largest soft drinks companies involved in global strategy, Finance, Budgets, Presentations, and StrategicDeadlines.Jason’s involvement in Charity encompasses charitable donations and foundation creations helped to create a network of Romanian Orphanages partnering with RTLMedia, to Art Foundation creation and consultancy and created customised Art Patron programmes for clients/colleagues/friends/family.
He has supported Elton John’s AIDS Foundation for over 15years, regularly bringing in new Donors to events along with supporting AmFar, Leonardo DiCaprio Foundation and numerous international Art and Cultural institutions for donations, events & Patrons programmes.
Contact Jason Colchin-Carter, Founder JCC Fine Arts