As a managing partner at respected art investment services provider Willstone Management, Olyvia Kwok has comprehensive knowledge of the successful collecting of art as an asset class.
LONDON, ENGLAND, September 19, 2018 /24-7PressRelease/ — She has recently spearheaded the creation of Live Auction Art, an investor app that provides valuable real-time information for art investors who are seeking to make prudent purchases at auction.
The app is just the first step towards providing the investment world with easily accessible and transparent data regarding the worth of pieces of art, across the globe. According to Kwok, “The art market has not only retained its size since the global financial crisis – it has actually almost tripled in size. There have been some difficult moments, but this market has proven itself over and over again.” She aims to “Show institutional clients how fine art assets can be more transparent and liquid”. Kwok obviously believes that knowledge is a vital attribute for an art collector to have, but why is this the case and which other traits does she recognise as being paramount in successful art collectors?
The value of transparent and accurate advice
There is a very good reason why the current emphasis of Kwok’s work is in availing clients of investment advice which is clear, precise and up to the minute. Purchasing art is something that anyone can do. Ensuring that purchases secure a significant return on investment is an entirely different exercise.
Being successful in the world of art dealing involves understanding the current position of the art market. It’s not sufficient to identify a hot market and continuously rely on acquiring related pieces. Art collectors must be able to change tastes to ensure favourable outcomes. As Kwok has previously revealed in interviews, her own tastes change, “Every two to three years.”
She has an instinctive ability to identify potential in art investments. It’s this ability that places her in such an eminent position to provide the level of advice that is required by her clients. They must possess the trait of recognising the value of this advice, enabling them to utilise the information in developing the value of their collection. Any successful art collector needs to have this trait.
Learning from previous endeavours
Anyone who has ambition to be successful as an art collector has to be prepared for an element of risk. Not every purchase will be a successful one. The key is to learn from every deal and to take that intelligence and utilise it to assist with making future acquisitions. According to Kwok, within this learning are different factors which should be paramount.
• Due diligence should always be carefully attended to.
• Diversifying should be central to a collector’s success.
• Recognition of forgeries and restoration skills should be developed.
• Attention should be paid to the perfect time to sell.
Paying attention to this learning, and its constituent parts, enables collectors to develop a strong belief in their skills; thereby assisting them to effectively manage risk and become more successful with their investments.
Why market intelligence is so vital
One attritibute that Olyvia Kwok has always used to her advantage, and that of her clients, is the ability to know how the market is behaving and what is likely to happen in the future. This level of market inteligence is a virtue that no prosperous art collector can be without. Collectors have to be aware of events, or trends, that could have a positive impact on certain potential investment pieces. If an up and coming artist is about to be featured by a prominent gallery, the value of their work is likely to increase, so making purchases in advance is a sensible investment move.
Evidence of Kwok’s abilities in this area can be seen from her movement through diverse markets, from emerging markets to investment in South American, Asian and European collections. In-depth market knowledge enables her to see where the trends are headed. This is an attribute that is essential in the world of art collection.
Any successful art collector has to combine attributes of learning, the ability to recognise and utilise valuable advice and the ability to understand and predict the market. It’s this combination of traits that enables professionals such as Olyvia Kwok to maximise the potential of art as an asset class. This optimal position is a point that any ambitious art dealer aspires to reach as it enables them to fully realise the potential of their investments.
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