APAA & NADA Presents Expanding Your Collection with Confidence

NADA Presents and the Association of Professional Art Advisors (APAA) co-hosted a panel discussion “Expanding Your Collection with Confidence” with Gallerist Nicelle Beauchene; John Robinette III, Collección Patricia Phelps de Cisneros; Debra Bosniak, APAA Member; moderated by Eileen Kinsella, Senior Market Editor, artnet news on March 9, 2018.

Panelists encouraged new art advisors to develop meaningful relationships with clients of diverse collecting interests and motivations.“I really recommend going to galleries, studio visits with artists, art fairs,” and keeping up with fair market values for appraisals, suggested APAA member Debra Bosniak, speaking on navigating the real-time sense of immediacy within the art market.

John Robinette III elucidated the nuances between coordinating transportation of artwork to individual homes compared to public spaces, including large outdoor installations. Private residences allow more leeway; public safety regulations require more attention to detail and communication. He also recommended advisors develop awareness around when a collection is getting too big for a home; be knowledgeable about storage needs and options; and ensure environmental control such as sufficient air conditioning to manage the indoor climate, or lowering window shades to prevent overexposure to sunlight.

Panelists expressed that in working with new collectors, many people start with prints and photographs. People with more money to spend, but new collecting, may take some time to become comfortable spending it on art. Young collectors groups and circles, everyone concurred, can be efficacious and are accessible through many cultural institutions.

Gallerist Nicelle Beauchene emphasized that for collectors who want to sell pieces, taking the work back to the dealer from whom they bought it is the best professional choice, as selling on the secondary market actually hurts the artist’s career. “Keeping everything transparent is best for the career of the artist,” she said. She also encouraged advisors to be confident in asking collectors to pay off a work over time, which creates a relationship built on trust.She recommended that advisors “try to slow things down as much as possible” during the purchasing and installation process, especially when navigating insurance and the shifts associated with fast-rising market values.“Find something you love,” Bosniak said. “That’s the priority.”