10 Things to Learn from Alain Servais About the Art Market in Just 30 Minutes
1. There are different types of art:
- Experiential Art like the Yayoi Kusama environments, the rain room by Random International and so on. Everything I hate but brings 300,000 people to the exhibition
- Financial Art that may be easily traded
- Luxury Art which is linked to brands
- Art that only I like – works that should be preserved for the next generation; Works that are not about acquiring an object but that become ways of living.
2. Collectors and artists are 2 sides of the same coin – both are weird. They move away from familiarity and challenge a different way of thinking. To feel – frustration, excitement, discomfort – means you are still keen on still learning.
3. No matter how good your art is people won’t understand it. It is a process that takes time and effort.
4. 80% of people in the art world want to talk about investment. “The art world has changed, there’s big money now. The time when we were all friends is gone, we are now fighting for the same goal.”
5. Intrinsically, art is worth nothing. The value is in myth-making. “Everyone knows that an artist represented by Hauser & Wirth is more valuable, as is an artist collected by me or Patrizia Sandretto Re Rebaudengo. Insiders of the art world are good at myth-making and they make good money off it.”
6. We need hard data! “Don’t confuse commercial value with cultural value. The people controlling the information are in charge so it’s your responsibility to make it more accessible, promote change and make the art market fairer.”
7. Art is used in the wrong way – don’t listen to the stakeholders. “The USA gave permission to build a Freeport in Manhattan; a tax-free haven. That’s worrying.”
8. The gallery dilemma – “The art galleries closing down are the ones who represent artists that are not speculated. Don’t consider the art world as homogenous, it’s another world.”
9. What I love about collecting art is “… that you save a lot of money on shrinks. Art makes you ask yourself a lot of things.”
10. “Im very aware of the value of money. Im very tough with prices, I negotiate a lot. Im not buying art for investment but I do happen to make a lot of money from it.”