An art consultant is someone who advises individuals or businesses on which works of art they should purchase. This advice can be used for a variety of things, from building a personal collection to designing an art program for a hotel chain to putting together an investment portfolio. Fine art is regarded as a relatively stable long-term investment if handled properly, which is why many individuals and businesses with money to invest turn to it during economic downturns.
When buying a new home or redecorating an existing one, wealthy people frequently hire an art consultant to help them get the art they want on their walls. Keeping track of which pieces are for sale and which new artists are popular in the art world is a full-time job. A skilled art consultant will meet with a client to get a sense of their likes and dislikes, as well as their budget and any specific pieces they are seeking. They’ll then assist in locating the desired pieces at auction, as well as suggest new or unexpected artists to round out the collection. Consultant fees vary greatly depending on the consultant’s experience, overall budget, and the size of the desired collection.
Businesses frequently require art for their locations and may hire a freelance art consultant or employ an in-house art consultant. These consultants are in charge of maintaining a consistent look and feel across the company’s many locations while staying within budget and reflecting the company’s culture. Hotels, for example, may hire a number of art consultants to create a comprehensive art program for their chain, consisting of either uniform art or regionally appropriate art.
Finally, an art consultant may act as a financial advisor to individual or corporate clients. In this case, the consultant is expected to have a deep understanding of art market trends, including which new artists are rising stars, which artists are undervalued, and where big risks can be taken for big rewards. These advisors work closely with clients to diversify an art portfolio at auction or through private sales in order to achieve the desired risk-to-gain ratio.
The majority of art consultants have a bachelor’s degree in art history or a related field, and many have advanced degrees. Before becoming independent consultants, many art consultants worked in the art world in some capacity, often at large auction houses or in galleries. There are also a number of large art consulting firms that employ tens or hundreds of people to cover various specialties for clients.
Many consultants work with other types of art in addition to traditional framed fine art. Some consultants are experts in textiles, while others are experts in sculpture or installation art. Many consultants have a background in interior design and may offer to broker other decorative items, such as antiques or craft objects, as part of their services.