Art has always been a good investment, provided you’re buying the right pieces. There’s a growing demand for art all over the world and, when it comes to high quality work, there’s a comparatively limited source of production. It’s an enduring market in which you’re buying tangible goods that are in limited supply so it’s, to a great extent, immune to global economic fluctuations. In short, buying art is worth considering.
Arthur Guéret Art Advisory (AGAA) aims to take the pain, and a little of the risk, out of creating a private art collection. “The purpose of AGAA is to help private and corporate collectors in the acquisition or the sale of artworks. We are here to help buying the best at the best price according to the taste of the customer. And when it is time to sell, we help people find clients for their art pieces. Our choices are guided by the history of art and the market, so that our acquisitions can be more profitable artistically and financially for our clients,” says Guéret. It’s a simple concept, but one that, perhaps, isn’t fully understood in the UAE as of right now.
The market for Middle Eastern and Western art within Abu Dhabi is growing fast. As a direct result of this intensification, the market is incredibly fluid, with pieces changing hands quickly and buyers seeking to profit off these trades. “The market in Abu Dhabi is very young, but it is already dynamic and will be one of the most important within five years,” claims Guéret. Much of the art being sold goes into the public realm, however there’s also a growing body of private collectors-cum-investors beginning to emerge.
It’s this gap that AGAA has moved to fill. There are a number of reasons as to why someone chooses to collect art. Primarily, there is the love for fine pieces that the collector wishes to enjoy, art for art’s sake if you like. However, the dynamism of Abu Dhabi can’t be sustained by people squirreling artworks away; it’s the horse-trading that’s created the movement within the market.
This year more than 60 galleries are exhibiting in Dubai alone, with the majority of the big names in attendance. The focus appears to have shifted, though it’s early in the year, the belief among experts is that 2010 is going to be a year of consolidation. In the past, galleries and collectors have been buying from outside the region and chasing down potential new collectors, eager to make the most of the boom. This year it’s all about consolidation, in terms of existing local collections and clients.
Guéret’s mission is to help minimise the scope for loss and to maximize potential profits. “If one buys a bad piece, you might pay 2,000 USD, but not be able to sell it when you wish to. Our mission is to make our client buy a piece for, say, 15,000 USD, but one that he will be able to resell for 20,000 USD.” You get the sense that Abu Dhabi’s fast-moving market is ideal for a company like AGAA. There’s a need to be quick on your feet in a market that still appears to be prone to lightning-fast change.
With operations in both Paris and Dubai, Guéret has created a valuable resource in the region. Through personal contacts and a team well versed in the intricacies of both the Middle Eastern and Western markets, AGAA is well placed to advise potential collectors. Guéret’s aware that the art market can be more than a little intimidating to the uninitiated, and so they aim to allow even laymen to navigate their way around a gallery with confidence. Part of AGAA’s package is to introduce the novice to the esoteric world of the gallery and the museum. Indeed all of the company’s market analyses are written with the learner in mind.
With a view to fostering the creation of local collections, AGAA can be closely involved in the management of a client’s pieces. From selecting potential works, to making the purchase on behalf of the client, “In a case where the client already knows what he wants we can source the artwork he requests on his behalf through our international network of collectors, dealers, galleries and museum advisors,” says Guéret. Once purchased, AGAA can then install the piece and will also value the collection on a yearly basis and advise the client on possible additions. Be you novice or expert, the existence of an experienced, knowledgeable firm like AGAA can be of great advantage when scouring the market.
After talking about the ins and outs of the Emirati art market, it was time to pick Guéret’s brain. Whose work did he feel was a dead cert? Where’s the money to be made? “Currently, Iranian and North African artists are those who succeed the most at auctions and international galleries. There are at least seven names you can bet on with eyes wide shut,” Guéret says. Now, if you notice, he didn’t say who they were.
CONTACT DETAILS
Arthur Guéret Art Advisory
712 The Fairmount Hotel
Sheikh Zayed Road
Dubai, UAE
+971 4 304 25 36
