I wanted to give back to the community here who have helped me when I initially entered the banking world 15 years ago. Hope to help anyone interested in entering the art world (more as a collector vs professionally).
My story: I used to work in IB at multiple bulge brackets for 5 years, doing everything from distressed debt to M&A, ECM, and principal investments. I quit my job as an Associate, started ARTCUBE (an art company), joined an accelerator program, and haven't looked back since.
What my company does: Today, ARTCUBE is one of the largest matchmakers in the art world, leveraging the power of data to connect individuals, give insights, and help facilitate doing deals through our private network. We work with some of the top galleries, art dealers, advisors, and collectors but our main goal is to make it easier for new collectors to enter the art world. A lot of our collector clients work in Finance, though we have found that there are very few in junior positions, which is something we'd like to change. We focus exclusively on fine art (paintings, drawings, sculptures, etc.) that falls under the category of "investable art." And you can already find some great emerging artists for under $10k, sometimes even under $5k, which is a reasonable entry point for anyone at the Analyst or Associate level.
Entering the art world: With new collectors, we've most often found that they don't really know what they like (yet), understand how much something should cost (99% of art purchases unfortunately won't be a good investment), or even where to start. For anyone looking to purchase their first work, we always recommend to wait for at least 6 months before you even consider buying anything, as you will learn how your taste preferences evolve over time and works that were appealing before are no longer of interest then. It's also great to get an understanding of how much different works cost, so that you will feel more comfortable once you end up making that first purchase. Please feel free to ask me anything you ever wanted to know about the art world and market, and I'll do my best to answer it.
Free Giveaway: If you're currently an Analyst or Associate at an investment bank / fund and are curious about collecting, we're giving away free access to our monthly SMART COLLECTOR Report for 6 months, which features the top Emerging & Mid-Career Artists currently getting their due on Instagram. Simply email "WSO - New Collector" to [email protected] from your work account and we'll subscribe you. Instagram is also a great place to start discovering artists on your own or follow tastemakers who feature new talent all the time. You can also follow @artcube for your daily dose of artists and art world insights. Whether you've always been curious about collecting, want to fill your home with unique pieces, or impress your date or senior staff member, it's never too early to start.
*Please note that we don't provide financial advice on collecting art and you should always consider your capital to be at risk when purchasing a work.
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