How much do you know about the average art collector? It turns out these collectors worldwide are not so average after all as they routinely have over 500 pieces of art in their collections. New York just so happens to have more art collectors than anywhere else in the world, so here are a few great reasons you will need an experienced and accredited appraiser for your art collection management.
How Do You Manage Art Collections?
Art collectors manage their collections by organizing, assessing, analyzing, recording, storing, and caring for artwork. These collections may be owned by individuals, artists, museums, or galleries, but they are usually overseen by professional art management service providers who can supervise large projects.
- Authentication
Collectors that hire accredited appraisers for art collection management receive the benefit of authentication, including establishing an art collection’s initial valuation, artistic history, previous ownership, grade condition, technique, and construction.
Art collection managers also provide services such as sale negotiations, authentication and valuation of acquisitions, conservation, cataloging, marketplace representation, preservation, insurance valuation, art trend evaluation, and loss prevention supervision.
- Valuation
The valuation process is important for art collectors as it establishes an accurate and current value for buying and selling while also protecting against any damage or loss. The valuation must periodically be updated to reflect market value, relevance, or trends. In case of theft or loss, our staff also works with insurance adjusters to validate worth.
- Documentation
As art collectors invest great sums of money in art collections, documentation becomes essential to establish value, ownership, and history. It also helps art collectors create an art collector profile that reflects on personal property, acquisition or sales, and profit. Using an art collection management provider also helps with summarizing collections and validating investments, while also establishing your involvement in the art industry.
- Compilation & Organization
Buying and selling is just one small part of an art collector’s daily duties. It also requires compilation and organization, which is part of art collection management. Besides the initial investment, collectors will pay as much as twenty percent to care for the artwork. This may include artistic commissions, appraisals, shipping and handling, installation, storage, indemnity protection, and maintenance. Appraisers often have a simpler time compiling and organizing than art collectors because of first-hand industry knowledge.
- Insurance Project Management
Fine art is a financial investment, so having collections insured provides a certainty that if something happens, you will not suffer from financial losses. Insurers also rely heavily on our project management reports to establish a valuation for artwork replacement.
Does Manzi Appraisers & Restorer Offer Art Collection Management?
Manzi Appraisers & Restorer provides appraisal services, consulting services, and project management, which includes buying, selling, and art collection development of fine art, furnishings, and home décor. Our experts also review insurance adjuster inventory reports and confirm valuations.
Whether you are just starting to develop as an art collector or have an extensive collection, our experts would love to help you grow your art collection. Call us at 617-995-0022 to schedule an assessment today or visit us on Facebook at www.facebook.com/ManziAppraisers/ to learn more.
