The collector Stefan Edlis used to say: “There are a lot of people who know the price of everything and the value of nothing,” and you can’t have a golden age without gold and by that standard we are currently in an epoch of platinum. The sale and resale of work by living and recently dead artists is a multibillion-dollar market, which bothers some people more than others. Art as an investment will offer welcome inflation protection in 2023.

Despite the major macro shifts in the global economy that took place in 2022, analysts such as UBS still expect collectors to compete for investment-grade artworks. This is particularly true of art, which remains an attractive hedge against inflation and an essential component of a broader portfolio diversification strategy.

Buying art can be daunting, it is an object of permanence that’s not easy to change should your taste move on, often original works require a significant financial investment, then there is an assumption that you must possess a prerequisite knowledge to choose the “right” piece, compounded by the potentially intimidating settings of galleries or art fairs. All in all it’s hard not to feel a bit daunted by the process and a bit excluded. My top tips for collecting and buying art is above access and knowledge – excitement.

I believe that access and knowledge are the keys to successfully navigating the high barriers to entry into the art market and am delighted to be contributing to the NEWS.MC “Art & Auction” column and writing in mediums that help to open the aperture for our Art community in and outside of Monaco, creating new ways to discover and own works from exceptional artists, seeing top galleries and exploring art fairs, museums, foundations, talking with collectors while seeking to retain the elevation of quality and depth of expression that makes art such a transformative human experience.

Though cultural capital creation is the new savoir faire in luxury, what many brands underestimate is that building and wielding cultural influence requires a different skill set than that required to produce and sell goods.

As Gen-Z is the first truly digital generation, luxury brands must have a strong digital presence, far beyond an e-commerce or social media presence. The name of the game is to create cultural capital through understanding and influencing audiences digitally. Take as an example Louis Vuitton, it’s clear that the house is not positioning itself anymore as just a luxury brand, but rather as a cultural entity. The Louis Vuitton Foundation museum and art center in the outskirts of Paris all work towards a similar goal. The French maison’s much anticipated collaborations with world renowned artists such as Japan’s Yayoi Kusama also seek to leverage culture in cementing its leading place among luxury brands.

Gen-Z consumers value experiences over mere products, so luxury brands must create unique and memorable experiences for their consumers. This can be achieved through immersive events, collaborations with artists and designers, and personalized services. Luxury brands must also create a sense of exclusivity and scarcity, such as through limited edition products and VIP programs.

The value of art is priceless.

Karolina Blasiak 

Art Advisor

Full interview with Karolina Blasiak here.

PHOTO: Karolina Blasiak