The often murky role of advisors and clients in the art market is a subject that continues to generate headlines, from the ongoing Bouvier saga to this year’s judgment against Lisa Jacobs. For those trying to draw useful lines and gain practical guidance, a new Kindle book Managing Relationships in the Art Market by art advisor and Tang Art Advisory Principal Annelien Bruins will be a useful reference.
Bruins notes in her introduction that clients often ask her what value an advisor will bring to them, which she answers by reviewing important data from the art market and her own experience. She also provides useful perspective on how collectors should educate and inform themselves, and how to work with advisors to articulate one’s taste and tolerance for risk.
Bruins also makes a pitch (music to our hears) for consitnecy in the formation and documentation of relationships. Many collectors and sellers are leery of even mentioning lawyers, but a contract is simply a decription of a relationship that benefits everyone through clarity. It does not have to be complicated.
Bruins book is concise and worthwhile both as a comprehensive read as well as a reference for later. It is highly recommended.