THE CARE AND HANDLING OF OBJECTS: NYU’S ART COLLECTION PROGRAM

Last week we learned about the many practical facets involved in the maintenance, installation and display of art objects. An academic program that directly addressed these concerns has been developed by the highly qualified Geri Thomas, founder and owner of Thomas and Associates, an arts and cultural search firm, for New York University’s Continuing and Professional Education Studies. It is a landmark program responding to the international growth of museums, galleries, private and public collections. Geri is here to describe the particulars of the program and happy to answer any questions about the course in particular or working in the arts field in general.

WHAT WAS YOUR IMPETUS IN CREATING PROGRAMS FOR NYU? I HAVE ATTENDED THE CONTINUING AND PROFESSIONAL STUDIES SCHOOL IN THE AREAS OF FINANCE AND ECONOMICS AND THOSE COURSES WERE OUTSTANDING. WHAT WAS LACKING IN THE AREA OF THE ARTS THAT PROMPTED THIS ASSOCIATION?

In 2003, I was asked by the British Museum and the Victoria & Albert Museum in London to present a paper on leadership, management and staff development training in U.S. museums, and in 2004, I presented a paper on the status of the museum workplace in the United States at ICOM’S Annual Meeting in Seoul, Korea.

These assignments underlined the lack of training and formalized study in the area of Collections Management. In my own work as a consultant on collections and exhibition projects, I began to notice a lack of or a drop  in professional standards by those who are responsible for the care and handling of objects. I approached NYU, where I’ve taught for over a decade, with the proposal to develop a program for the field. I realized that there was no coursework available like this and the lack of standardization in the handling of objects, their display and the exacting work of a registrar in maintaining up-to-date cataloguing of works of art.

The only programs that existed were Master Degree programs. These represent a much more significant commitment of time and money and still did not focus on the practical skills that are essential for the professional in the field who is caring for handling and installing works of art and artifacts. Most people simply learned on the job and through experience without the advantages of an organized program that would address each of the issues that they will face in the workplace.

I WOULD LOVE TO KNOW ABOUT THE INCEPTION AND HISTORY OF THIS PROGRAM. WHEN WAS IT LAUNCHED? HOW MANY ATTEND? WHAT ARE THE SPECIFIC AREAS OF STUDY?

The Certificate in Art Collection Management and Display was launched in September 2011. Museums, foundations and private collectors need trained specialists who can manage, install and care for art.

The response to the program that we launched in 2011 has been overwhelming, with a maximum number of 25 students enrolled in each course. From what I can determine, at least one-third of the students already are working in the field, in museums, galleries or managing private collections. The program is rigorous enough for people with training in this field and attracts students who want to formalize their skills with a certification or transition into this field.

It also attracts people of several generations: those just starting their careers who have an interest in art, those who want to hone their existing skills and experience, and those who are interested in making a career shift from, for example, the financial service industry, to something for which they have more empathy. For this type of student, the program provides an introduction to training and working in the arts and culture field. Whether you are planning a career as a curator, collections manager, registrar, art handler or installer, the Certificate provides this expertise.

THERE MUST BE A WONDERFUL SYNERGY BETWEEN THE ARTS COLLECTION MANAGEMENT PROGRAM AND YOUR AGENCY THAT FOCUSES ON RECRUITMENT IN THE FIELD OF ARTS AND CULTURE.

I AM SURE WE ARE ALL INTERESTED IN KNOWING THE PRACTICAL ASPECTS OF ENROLLMENT AND CERTIFICATION AND THE JOB POTENTIAL THAT A GRADUATE CAN EXPERIENCE. I LOOK FORWARD TO LEARNING THE SPECIFICS.

Arts Management: exceptional program developed by Geri Thomas

As the global market continues to expand and explowe, specialists who can manage, install and conserve art collections are increasingly in demand. Managing art collections has become an area of specialization that has emerged and developed in conjunction with the growth and globalization of the market itself.

I  heard rave reviews about an Arts Management Program from a colleague and pal,Mike Quinn, whose judgment I trust. Mike works for Christophe van de Weghe, an impeccable international dealer and a wonderful friend to me.

Thus, Mike is constantly exposed to great art and to great art dealing. Mike is adding to his professional resume by studying for a Certificate in Art Collection Management at New York University’s School of Continuing nad Professional Studies.

I asked Mike to contact Geri Thomas, President of Thomas Associates, Inc., who developed this program in conjunction with NYU and teaches the introductory course in this new program to see if she would be willing to share her information with us for this blog. She said yes!

GERI, YOU ARE THE FOUNDER OF THOMAS & ASSOCIATES, INC., A NEW YORK AND CHICAGO BASED COMPANY THAT SPECIALIZES IN RECRUITMENT, CONSULTING AND PROFESSIONAL DEVELOPMENT WORKSHOPS IN THE ARTS. PLEASE TELL US ABOUT THE FIRM, HOW IT STARTED AND YOUR MOTIVATION.. IT IS THE FIRST COMPANY OF ITS KIND THAT I AM AWARE OF AND I WOULD LOVE TO KNOW MORE.

I have always been involved in the art field, initially specializing in Chinese art history at college and then working in the museum world for many years in various capacities. My first museum job, as Deputy Director of the Bronx Museum of the Arts, put me on the administrative track as a director, manager, and coordinator rather than a curatorial path. I was on the initial planning team and lived in New Zealand establishing their new national museum, Te Papa, and when I returned to New York, I was appointed the Director of Exhibitions and Collections at the Jewish Museum.

After my involvement for more than 24 years in arts and cultural organizations, I was extremely aware of the lack of agencies that concentrate specifically on job expertise in this field and founded Thomas and Associates, Inc. twelve years ago. We focus on such areas as executive search, strategic planning, organization development, and human resource initiatives for such organizations as The Metropolitan Museum of Art, The Studio Museum in Harlem, the Corning Museum of Glass, the Hudson River Museum and Christie’s.

For instance, when Christie’s moved to its current location at 20 Rockefeller Plaza, we were commissioned to develop an art handling training program for everything from the art handlers’ practices on the loading dock to display and installation teams for all of the auctions that take place.

WHAT A WORTHWHILE BUSINESS, SERVICES WE IN THE ART FIELD TAKE FOR GRANTED,  AND SO NECESSARY AS THE ART MARKET CONTINUES TO EXPAND INTERNATIONALLY IN SO MANY ARENAS. NEXT WEEK I WOULD LIKE TO HEAR THE SPECIFICS ABOUT THE ARTS MANAGEMENT PROGRAM YOU WERE INSPIRED TO DEVELOP.

PLEASE ASK GERI ANY QUESTIONS ABOUT THE PROGRAM OR HER COMPANY AND I KNOW SHE WILL ANSWER THEM COMPLETELY AND HELPFULLY.

UNTIL THEN…

Fine art investment strategies from expert Win Smathers

IN THIS BLOG, WIN SMATHERS, MANAGING DIRECTOR AT INVESTMENT FIRM, HUNTER ASSOCIATES, WILL EXPLORE ART AS AN INVESTMENT STRATEGY IN TERMS OF THE WORLD AS WE KNOW IT AND ANTICIPATE IT TO BE. WITH GLOBALIZATION AND SHIFTING IN THE FINANCIAL WORK FROM EXISTING POWERS TO EMERGING MARKETS, IT IS ALL THE MORE IMPORTANT, IN MY VIEW,  TO SAFEGUARD ONE’S  WORTH NOT ONLY WITH MORE TRADITIONAL INVESTMENT VEHICLES BUT ALSO WITH THOSE THAT ARE RELEVANT TO THE CURRENT ECONOMY AND TO OUR FUTURE WELL-BEING.

WHAT ARE THE CHARACTERISTICS OF FINE ART THAT ALLOW IT TO BE TREATED AS AN ALTERNATIVE INVESTMENT AND WHAT ARE YOUR RECOMMENDATIONS IN DEVELOPING APPROPRIATE INVESTMENT STRATEGIES INVOLVING FINE ART?

Fine art is a lagging asset more affected by long-term wealth creation and destruction and lacking the daily price volatility of traditional assets which change hands at levels determined by immediate facts and influences. I recommend that investors build diversified portfolios to reduce risk and improve returns. Dedicating a portion of your portfolio to alternatives is a sound and proven strategy. Institutional investors may have up to 40$ in non-traditional asset classes. I suggest individual investors allocate  5-10% to this space. Art would be a component for the right investor who has knowledge and access to what is worthy of collecting.

HOW DOES IT MEASURE UP TO OTHER ALTERNATIVE  INVESTMENTS? HOW DOES IT COMPARE TO MORE CONVENTIONAL HOLDINGS AND DO YOU AND YOUR ASSOCIATES IN THE FIRM HAVE EXPERIENCE IN ASSISTING A CLIENT TO DEACCESSION WORKS EITHER AT AUCTION OR IN THE PRIVATE SECTOR?

As far as I’m aware, none of our advisers have direct experience advising clients in the acquisition or sale of art. Keep in mind we are in sleepy Pittsburgh, childhood home of Andy Warhol!

HAS THE REASON TO SELL BEEN TO TAILOR THE INVESTOR’S PORTFOLIO OR HAS A NEED ARISEN? SINCE ART OR REAL ESTATE OR ANY PHYSICAL ENTITY CAN NOT NECESSARILY BE READILY CONVERTED TO CASH, WHAT IS YOUR THINKING TERMS OF ADVISING YOUR CLIENTS’ ATTITUDES TOWARDS THEIR COLLECTIONS?

I can only speak to the alternatives we do have in our client accounts. Historically, the alternative sleeve is quiet money. Its purpose is to zig when the stock and bond markets zag. When we have liquidity needs, both anticipated and the surprise, we typically go to the most liquid areas of the portfolio first.We do have clients with valuable collections, one of whom recently died and his estate raised $10 million from the world’s foremost stamp collection of inverted centers. We certainly don’t dissuade our clients from pursuing their collecting passions. Our job is to make sure that their traditional portfolios can provide the income and wealth generation to give them the time and resources to follow their avocations.

AS THE WORLD ENTERS A NEW PHASE IN TERMS OF SCALE AND GLOBALIZATION, WE CERTAINLY TAKE THIS INTO CONSIDERATION IN TERMS OF INVESTMENT STRATEGY. HOW DO YOU THINK THAT ART AS AN ALTERNATIVE INVESTMENT FACTORS INTO THESE CHANGES?

In our firm, we are cognizant of the globalization trend affecting multiple asset classes. For example, we know a significant percentage of real estate purchased in Miami and New York since ’08 is from offshore investors. We clearly have the globalization trend in mind when constructing our portfolios with the traditional asset classes. At some point, we may have the sophistication to advise our clients on art as an asset class or, at least, we know a sharp dealer in New York to whom they should speak!

THANK YOU WIN- FOR ALL YOUR PROFESSIONAL GUIDANCE AND FOR BEING A WONDERFUL ADVISOR TO ME AND A FAN.  YOU SIMPLIFY COMPLEX SUBJECTS FOR ME ALL THE TIME AND HAVE SHOWN THAT WONDERFUL ABILITY HERE IN THE BLOG AS WELL.

AS THE GLOBAL ART MARKET CONTINUES TO EXPLODE, SPECIALISTS WHO CAN MANAGE, INSTALL AND CONSERVE ART COLLECTIONS ARE IN INCREASING DEMAND. GERI THOMAS, A VETERAN IN THE MUSEUM WORLD AND HEADHUNTER/RECRUITMENT SPECIALIST IN THE ARTS HAS CREATED AN EXTRAORDINARY ACADEMIC PROGRAM IN CONJUNCTION WITH NEW YORK UNIVERSITY. NEXT WEEK, I HAVE THE PLEASURE AND PRIVILEGE OF INTRODUCING HER TO PROVIDE THE DETAILS OF THE ARTS MANAGEMENT PROGRAM AT NYU, A WONDERFUL ASPECT OF WORKING IN THE ART WORLD.

I WELCOME ANY AND ALL COMMENTS AND QUESTIONS ON THIS OR OTHER ART-RELATED AREAS OF CONCERN. FIRE AWAY!

UNTIL THEN….

THANKS FOR YOUR SUPPORT.

Art- one piston in the financial engine that fired last year

WIN SMATHERS, MANAGING DIRECTOR AT HUNTER ASSOCIATES, HAS DESCRIBED THE MISSION OF THE FIRM, ITS INVESTMENT POLICIES AND CHARACTERIZED THE DIVERSITY OF VARIOUS INVESTOR’S GOALS AND ATTITUDES. FOR MANY MORE INDIVIDUALS AND FAMILIES IN RECENT YEARS, ART HAS BECOME AN ALTERNATIVE INVESTMENT. OFTEN,  AS A DEALER, THE COLLECTOR IS AN IMPASSIONED INDIVIDUAL OR COUPLE WHO HAVE FOCUSED ON A PERIOD OF ART THAT IS COMPELLING TO THEM. IN TIME, THEIR INSURANCE COMPANY REQUIRES AN UPDATED FORMAL APPRAISAL AND THE MONETARY VALUE OF COLLECTING BECOMES AS APPARENT AS THE AESTHETIC AND EMOTIONAL ONE.  IN RESPONSE TO THIS AREA OF INVESTMENT, ART INDICES HAVE DEVELOPED TO TRACK VARIOUS PERIODS OF ART, ARTISTS AND EVEN PERIODS WITHIN ONE ARTIST’S OEUVRE.

WIN,  ACCORDING  TO A NEW MEASURE BY Artnet AG, ART BY DAMIEN HIRST AND ANDY WARHOL OUTPERFORMED THE STANDARD AND POOR’S 500 INDEX OVER THE PAST TEN YEARS. ART IS GAINING GROUND AS AN ALTERNATIVE INVESTMENT WITH MANY NEW COLLECTORS FROM THE INVESTMENT WORLD AND FROM EMERGING MARKETS.

HOW RELIABLE DO YOU THINK ART IS AS AN ALTERNATIVE INVESTMENT? IN SPREADING RISK? HOW DO YOU VIEW IT IN TERMS OF DIVERSIFICATION IN A PORTFOLIO?

I wouldn’t call myself an expert on the art market but I’ve done enough research over the 20 years I’ve been advising clients to know that art is like any asset, subject to peaks and valleys. And like other assets, its worth is very subjective. I too saw the statistic about art returns besting equities over the last decade. Currently, the art market is on a tear but as we saw in ’08, when there was a period of financial crisis, all asset categories, including art prices, came down significantly. The fact that the art market as measured by the Mei Moses All Art Index finished 2011 up by 11% demonstrates why having alternatives in a portfolio makes sense. The S&P 500 was flat last year. Hedge funds were down on average about 5%. Non-US stocks were mercilessly beaten down. Art was one piston in the financial engine that fired last year when many others did not.

As you mentioned, globalization has opened the art market to the new-found wealth of Asia and the emerging markets. This trend is in the early innings.

DO YOU OBSERVE A BOOM IN ALTERNATIVE INVESTING AND, IF SO, HOW DO YOU ACCOUNT FOR IT? IS THE CONCERN WITH THE DEVALUATION OF PAPER MONEY A DRIVING FORCE IN HIGH NET WORTH INDIVIDUALS INVESTING MORE IN ‘REAL INVESTMENTS’ SUCH AS WINE, COMMODITIES AND ART?

Alternative investing is nothing new. Institutional investors like pension funds and university endowments have been diversifying beyond the traditional asset classes for decades. The push down of alternative investing to the individual investor is relatively new and is certainly in vogue. The creation of innovative products like exchange traded funds has provided investors simple access to alternatives. Also, the low returns in the stock market and extreme volatility of the past decade has compelled investors to seek ways to boost returns and mitigate risk. The low-interest rate environment has forced investors to seek new homes for their idle cash, especially when the negative carry issue of art (Art pays no income) is less severe, relative to cash and short-term investments. A corollary to this is the devaluation of fiat money. A way to preserve purchasing power is to own hard assets, like art, precious meets,First Growth wine, etc.

NEXT WEEK WIN WILL OUTLINE, FOR US, WAYS TO DEVELOP APPROPRIATE INVESTMENT STRATEGIES INVOLVING FINE ART.  PLEASE CONTRIBUTE YOUR COMMENTS AND QUESTIONS.

UNTIL THEN….

An investor profile and the consideration of art as an alternative investment

LAST WEEK I HAD AT THE OPPORTUNITY TO INTRODUCE WIN SMATHERS, MANAGING DIRECTOR OF THE INVESTMENT FIRM, HUNTER ASSOCIATES, TO YOU. WIN INITIALLY PROVIDED US WITH A VIEW INTO THE INVESTMENT PHILOSOPHY OF THE FIRM, ITS CONCENTRATION ON INDIVIDUALS AND FAMILIES AS I THOUGHT THAT WOULD BE HELPFUL BEFORE WE INVESTIGATE THE SPECIFICS OF ART AS AN ALTERNATIVE INVESTMENT.

HOW DO YOU ADVISE YOUR CLIENTS? IS THERE A GREAT VARIATION IN YOUR APPROACH DEPENDING UPON THE PARTICULAR PROFILE OF A CLIENT?

We have a consistent framework we work within when constructing a portfolio for a client but view each client as unique. Our portfolios typically look very similar in terms of the individual holdings owned but the asset allocation between stocks, bonds, cash and alternatives will differentiate one portfolio from another. The asset allocation is determined by a client’s unique objectives, risk profile and time horizon.

WHY HAS HUNTER ASSOCIATES OPTED FOR THIS APPROACH WITH ITS CLIENTS? IN WHAT WAYS IS IT SUPERIOR TO THE ALTERNATIVE INVESTMENT APPROACH, FEE STRUCTURE AND PORTFOLIO MANAGEMENT?

We are in the business to take care of our clients’ money. While this seems overly simplistic, you’d be surprised at how this phrase resonates with them. Our business mantra is to understand our clients, tailor a comprehensive wealth management solution to them rather than force them to fit a standard solution and bring our diverse talents and skill-sets to the relationship for a reasonable fee. Furthermore, our people are 100% committed to superior client service. We like to think this is a clear differentiator in the market.

IN TERMS OF INDIVIDUAL AND FAMILY WEALTH MANAGEMENT, HOW DO YOU DECIDE WHAT PERCENTAGE SHOULD BE IN CONVENTIONAL STOCKS AND BONDS AND WHAT SHOULD BE ALLOCATED TO ALTERNATIVE INVESTMENTS?

This comes back to understanding the client. We realize that stocks provide the best long-term inflation adjusted returns. But yet, this asset category is the most volatile. We take into consideration a client’s emotion psyche for volatility, their objectives for their wealth, current and future income needs, their ages and investment time horizon, liquidity needs and investment IQ when establishing the relationship in the portfolio between stocks, bonds, cash and alternative assets.

OTHER THAN ART, WHAT ARE OTHER FORMS OF ALTERNATIVE INVESTING?

The simple answer is anything other than stocks, bonds and cash. However, the common answer in our community would be: real estate, commodities, hedge funds, private equity, venture capital, MLPs, precious metals, stamps and other forms of collectibles.

HOW DO THEY FACTOR INTO SOMEONE’S PORTFOLIO? OBVIOUSLY A GREAT DEAL IS DEPENDENT ON THE PERSON’S AGE, OVERALL WEALTH AND RISK TOLERANCE. WHAT ARE OTHER CONCERNS AND CONSIDERATIONS?

Many but certainly not all investment advisors recommend using alternative assets to construct a well-diversified portfolio. Diversification comes from owning assets that are dissimilar or non-correlated to each other. Each asset category possesses its own unique set of risk and return characteristics as well as liquidity constraints.  The idea or aim is to build a portfolio that produces the appropriate risk adjusted return to best meet the client’s unique objectives.

THANK YOU, WIN.

NEXT TIME, IT WOULD BE INVALUABLE FOR YOU TO PROVIDE YOUR INSIGHTS INTO THE NEW INDICES AND MEASURES OF RISK AND RETURN IN THE ART SECTOR , A TOPIC EXPLODING IN SUCH PUBLICATIONS AS THE FINANCIAL TIMES AND WALL ST. JOURNAL.  IF YOU HAVE SPECIFIC QUESTIONS OR CONCERNS PROVOKED BY THIS INTERVIEW OR THESE ARTICLES, PLEASE FIRE AWAY.

ALL COMMENTS ARE WELCOME AND SUGGESTIONS FOR FUTURE BLOG TOPICS!

 

Art as an alternative investment

Art as an alternative investment has become a dominant topic not only in the investment world but also in the art world with several indices tracking artists of different periods and styles such as the Mei Moses analytic tool.Auction houses are publishing market reviews and outstanding sales results as advertising and promotional vehicles for the collector and consignor. Journalists in the business sections of the Financial Times, the Wall Street Journal and the New York Times, among others, are tracking the auctions as well….and another area of potential investment gain is on the ascent. Win Smathers, Managing Director at the established investment advisory firm, Hunter Associates, has graciously agreed to explore the topic of art as an alternative investment with us. Historically, I have never pitched art to collectors because “it’s gonna be worth more”, but, of course, it is my goal and my responsibility to direct clients to works that, in my estimation, have not only aesthetic appeal but also market value.

Win is my financial advisor – a task I’m sure wears thin at times as I am not a passive investor – and Win has always been diligent in explaining the thinking behind his recommendations and steered my ship to safer shores. I admire his commitment to his work and his great knowledge of the field. I encourage you to ask him questions that concern you –  his advice is always thoughtful and elucidating.

WIN, THANK YOU FOR SPEAKING WITH US. BEFORE WE ZERO IN ON ART AS AN ALTERNATIVE INVESTMENT, PLEASE TELL US ABOUT HUNTER ASSOCIATES ITSELF. I KNOW THAT DAVID HUNTER FOUNDED THE FIRM BUT WOULD LOVE TO KNOW ITS HISTORY.

Dave Hunter founded the firm in 1992. We started with just a handful of staff and a few hundred clients who desperately wanted to work with a fee-based investment adviser rather than in a traditional commission-based brokerage model. Over the years, we’ve grown handsomely, now employing 30 advisers and financial professionals and managing $1.7 billion for individuals and families.

WHAT IS THE APPROACH OF THE FIRM AND ITS INVESTMENT POINT OF VIEW AND WHY?

We manage money primarily for individuals and families albeit we do work with a few dozen small endowments and corporate pension plans We apply a collaborative team approach to each client relationship to help best understand their unique needs. We start each relationship by creating an investment policy statement to serve as our guideline. Our investment philosophy is to buy high quality companies at reasonable valuations in businesses that are the beneficiaries of long-term trends. We do leave room in our portfolios for small companies that we know well and contrarian opportunities in companies that have lost their way but have a new catalyst or a redeeming quality that we believe is not yet recognized by the market. In the fixed income section of the portfolio, we believe in keeping our bond holdings safe and reasonably short in maturity. Lastly, we are committed to tax efficiency  in our portfolios and keeping our fees reasonable and competitive.

THANK YOU, WIN.  NEXT TIME, I THINK IT WOULD BE VERY VALUABLE TO EXPLORE THE PROFILE OF YOUR CLIENTS AND HOW ART AS AN ALTERNATIVE ASSET FITS INTO AN INDIVIDUAL’S PORTFOLIO, SOME OR ALL OF THE TIME. I REALLY APPRECIATE YOUR INSIGHT INTO THIS INVESTMENT AREA.

Artist’s books and the present and future of book collecting

I LOVE ARTIST’S BOOKS. IF I HAD THE FINANCIAL WHEREWITHAL AND TIME, THAT WOULD BE AN AREA OF COLLECTING FOR ME. THE BOOKS ARE CREATIVE AND INVENTIVE AND REPRESENT AN INTIMATE REFLECTION OF AN ARTIST’S THINKING AND AESTHETIC. DOUG FLAMM, BOOKSELLER AND EXPERT AT URSUS BOOKS, THE ANTIQUARIAN AND ART REFERENCE LIBRARY RESOURCE FOR COLLECTORS, DEALERS AND GALLERISTS, SHARES HIS KNOWLEDGE AND EXPERIENCE OF THIS SPECIALIZED AND INTRIGUING AREA OF PUBLISHING.

DOUG, TELL US ABOUT SOME OF THE ARTIST’S BOOKS THAT ARE YOUR FAVORITES AND THE HISTORY OF LIVRES D’ARTISTE IN GENERAL.

With an artist’s book, the artist is very much involved in the actual design and realization of the publication. Originally , livres d’artiste were very rarified publications that often included original works of art: prints, lithographs or etchings by the artist.

Ed Ruscha turned this category on its head. He changed the definition of what an artist’s book is. He conceived of ideas and projects using the commonplace technology of off-set printing. He selected very banal subjects (as he does in his paintings and works on paper) – parking lots, gas stations, swimming pools, and  reproduced these images in a rudimentary way that parallels his artistic genre. In so doing, he treated extraordinary objects that don’t fall within the traditions of livres d’artiste but a value and vitality very much its own and liberated this form of artistic invention.

Ursus has a wonderful collection, at present, of all of his artist books, all first editions, many of which are signed, and it’s exhilarating to see them all together.

HOW MUCH ARE YOU ASKING FOR IT?

$125,000

HOW WOULD YOU ADVISE A NEW COLLECTOR WHO WANTS TO BUILD AN ART BOOK COLLECTION TO BEGIN? WHAT SHOULD THE CRITERIA BE? WHAT SHOULD ONE BE AWARE OF WHEN ASSEMBLING A COLLECTION?

Trust your instincts. Determine which artists are the most interesting to you on an aesthetic an intellectual level whether you can buy their work or not. If text is important, focus on that. If you gravitate to images, that would dictate your choices. Start to get a sense of what kind of book you like.

Ursus Books helps people to buy individual books and also build book collections. We also sell collections or libraries. Actually, we have a remarkable contemporary collection right now with all the key books from Pollock through today. We have extended relationships with our customer base that might include providing our expertise on books coming up at auction, and bidding for the client who would like to remain private or doesn’t have the time.

DO YOU FEEL THAT THE ART BOOK MARKET IS GAINING IN MOMENTUM, STATIC OR IN A DOWNTURN BECAUSE OF OUR SHIFT, IN SO MANY AREAS, TO THE DIGITAL WORLD?

The book market is in a state of transition with interesting changes constantly in effect and it is hard to predict what will be interesting tomorrow. That being said, books have a staying power and older books that have weathered time will always be objects of interest and often value.

The great pleasure for me is the dialogue. It is really fun to work with someone. It’s not just about the books but very much about the interaction with people when putting together a collection. The internet does curtail or at least limit the human interaction between the antiquarian and the collector and the advantage of the interaction is that it provides the sense of the individual collector, the nuances of their likes and dislikes, the pleasure of collecting.

THANK YOU  SO MUCH, DOUG- YOU HAVE OPENED THE DOOR TO AN AREA OF COLLECTING THAT I AM CERTAIN WILL INFORM EXISTING BOOK COLLECTORS AND INSPIRE NEW ONES. DO VISIT THE ANTIQUARIAN BOOK FAIR AT THE PARK AVENUE ARMORY IN NEW YORK TO MEET DOUG IN PERSON AND SEE A SMALL SELECTION OF THE WONDERFUL COLLECTION AT URSUS BOOKS.

NEXT TIME, WE WILL EXPLORE ART AS AN ALTERNATIVE INVESTMENT WITH WIN SMATHERS, MANAGING DIRECTOR OF HUNTER ASSOCIATIONS, AN INVESTMENT FIRM THAT PROVIDES BOTH ADVISORY AND INVESTMENT SERVICES TO INDIVIDUALS.  ART COLLECTING HAS PROVEN TO BE ECONOMY-PROOF RESISTING THE DOWNSWINGS AND UPTURNS OF THE MARKET RATHER HEALTHILY IN RECENT TIMES.  I AM VERY PLEASED THAT WIN SMATHERS, AN EXPERT IN FINANCIAL PLANNING, WILL SHARE HIS VIEWS ON THIS SUBJECT. PLEASE JOIN US IN SEEING WHAT WIN HAS TO SAY AND DO ASK ANY AND ALL QUESTIONS THAT YOU WOULD LIKE HIM TO ANSWER.

UNTIL THEN….

THANKS FOR READING THIS!

LESLIE

The business of antiquarian book selling and the publishing industry

I AM ALWAYS INTERESTED IN HOW BUSINESSES WORK AND  THE ANTIQUARIAN BOOK BUSINESS IS AN UNKNOWN TERRITORY FOR ME. DOUG FLAMM, ON THE OTHER HAND, IS AN EXPERT IN THIS AREA, AS AN ENTREPRENEUR/COLLECTOR ORIGINALLY AND FOR TEN YEARS, AN INTEGRAL FIGURE AT URSUS BOOKS. IF YOU WOULD LIKE TO MEET DOUG IN PERSON AND GET A TASTE OF THE NUANCES OF ANTIQUARIAN AND ART BOOK COLLECTING, VISIT HIM AT THE UPCOMING ANTIQUARIAN BOOK FAIR AT THE PARK AVENUE ARMORY IN NEW YORK IN APRIL.

IF YOU HAVE QUESTIONS AND CONCERNS ABOUT THE BOOK BUSINESS, PLEASE POSE THEM HERE AND I KNOW DOUG WILL CONTRIBUTE AN ASTUTE ANSWER.

DOUG, I KNOW YOU HAVE AN INTERNATIONAL CLIENT BASE. HOW DID THAT DEVELOP AND HOW DO YOU MAINTAIN IT?

Ursus publishes catalogues of available books which we send to clients in the United States and throughout Europe. We also have had many Japanese na Korean clients but haven’t developed, as yet, the rest of the Asian market. The Asian customer tends to buy books on the art which he collects: Picasso, Matisse, Miro…in other words, the great modern masters. There is also great interest in the contemporary art market.

THE ANTIQUARIAN MARKET FOCUSES ON A RANGE OF THEMES, INCLUDING ARCHITECTURE, MEDICINE AND SCIENCE, NATURAL HISTORY, LANDSCAPE GARDENING, AMONG OTHERS. WHAT ARE THE COLLECTING HABITS OF CLIENTS WHO AMASS A RARE BOOK COLLECTION? WHAT IS THE PRICE RANGE OF RARE BOOKS AND WHAT IS THE MOST EXPENSIVE BOOK URSUS HAS EVER SOLD AND WHY?

The range is huge, from art reference books under $100 to books that sell for six figures. There is a cycle of taste. Many more books on contemporary and modern art are selling at present and books on Impressionism, for example, have taken a backseat. It follows the art market. Young collectors that we see, in their thirties and forties, are more interested in books about the second half of the 20th Century and the present, areas that are relevant today.

ARE PUBLISHERS PRODUCING LESS EXPENSIVE BOOKS OR IS THIS A RARIFIED MARKET THAT IS ECONOMY-PROOF EXCEPT FOR THE GENERAL CYCLES OF ECONOMIC PROSPERITY AND RECESSION?

A book is still a wonderful object and publishers such as Steidl, Hatje Cantz, and even Yale University Press, believe in what they are producing – the sum is greater than the parts. There are many advances in printing techniques that are always evolving that enhance the final product: the quality of reproduction now is very high, thanks to technological advances, and it is so much less expensive to produce a color book. The first books were hand-colored.

This is an extremely specialized market. So many books are produced and published. We help in guiding the art gallery, art collector, or auction house specialist in assembling a strong reference library.

ONE OF THE MOST EXTRAORDINARY DEVELOPMENTS THAT, FOR ME, IS A WORK OF ART AS WELL AS A BOOK IS THE LIVRE D’ARTISTE OR ARTIST’S BOOK.

HERE IS A LITTLE HISTORY OF THE TRADITIONAL  LIVRE D’ARTISTE:

The livre d’artist [French: artist's book] is a genre developed in 20th-century France and taken up in German as the Malerbuch. The term designates books illustrated with original prints by well-known artists. The artist’s contribution is not just illustration but should be regarded as his or her free interpretation or the way he or she has rendered the text in visual terms. A commission for a livre d’artist is usually given by a publisher. The work itself is then published at great expense and in elegant typefaces on hand-milled paper in a limited edition. Among the best known publishers of livres d’artiste were A. Vollard, H. Kahnweiler, A. Skira, E. Tériade und A. Maeght. Some of the most beautiful livres d’artiste are Pablo Picasso’s “Histoire naturelle” (1942), Marc Chagall’s “Fables de La Fontaine” (1952), Max Ernst’s “Une semaine de Bonté” (1934), Georges Braques’s ”Si je mourais là-bas’ (1962), Joan Miró’s ”Parler seul” (1950), Salvador Dalí’s ”Les chants de Maldoror” (1934) and Fernand Léger’s “Cirque” (1950).

NEXT TIME, I WOULD BE SO PLEASED IF YOU WOULD EXPLORE THE INNOVATIVE AND CREATIVE WAYS THAT THIS GENRE HAS DEVELOPED AND EVOLVED.

Highlights in publishing from expert Doug Flamm of Ursus Books

IN ANTICIPATION OF THE NEW YORK ANTIQUARIAN BOOK FAIR THAT OPENS ON APRIL 12th AT THE PARK AVENUE ARMORY, I AM VERY PLEASED TO HAVE EXPERT DOUG FLAMM OF URSUS BOOKS SHARE HIS KNOWLEDGE OF THE ART BOOK FAIR MARKET AND ANTIQUARIAN BOOK COLLECTING. URSUS BOOKS,  AN EXCEPTIONAL RESOURCE FOR ART BOOKS, ART REFERENCE BOOKS AND ARTIST’S BOOKS  IS LOCATED RIGHT ON MADISON AVENUE IN NEW YORK.  DOUG HAS WORKED WITH MANY COLLECTORS TO BUILD REFERENCE LIBRARIES THAT ENRICH THEIR ART COLLECTIONS, SERVED MANY GALLERIES IN THEIR RESEARCH AND PROVIDES A WONDERFUL RESOURCE FOR BOOK COLLECTORS. TODAY WE WILL LEARN ABOUT THE RESOURCES THAT URSUS TAPS IN ORDER TO PROVIDE US WITH A TERRIFIC SELECTION AND HOW TO CONSERVE AND TREAT BOOKS OF VALUE.

DOUG, BEFORE WE GET INTO THOSE DETAILS, I WOULD VERY MUCH LIKE TO KNOW HOW YOU AND THE TEAM AT URSUS CREATE SUCH AN OUTSTANDING RESOURCE FOR YOUR CUSTOMERS. DO YOU SEEK OUT NEW MATERIAL? DO YOU BUY ENTIRE  COLLECTIONS OF BOOKS FROM ESTATES AND AT AUCTION?

We do buy entire collections, attend book fairs, and have numerous contacts around the world who will alert us to the availability of rare and out-of-print books that might interest us. Sometimes, a customer will have things for sale and contact us directly.

I CERTAINLY KNOW A BIT ABOUT ART FAIRS BUT NOTHING AT ALL ABOUT BOOK FAIRS. WHERE AND WHEN ARE THE BEST ONES?

There are two major American fairs organized under the auspices of ABAA, the Antiquarian Booksellers’ Association of America, founded in 1949 to promote interest in rare books and foster collegial relations amongst its members. One is held at the Park AVenue Armory in April, the other in California in mid-February, alternating each year between San Francisco and Los Angeles. There are usually around 100 exhibitors that include international dealers and books not only in English but also in many other languages. Antiquarian book fairs  are not  limited to art and art-related books but include all fields of interest from the earliest examples of printing well into the late 20th Century.

For the fairs, Ursus strives to bring a variety of material, a sampling of what we have with the focus on illustrated books,garden and landscape topics an architectural subjects. We put an emphasis on books that represent the high points in book printing.

WHAT ARE THESE ZENITHS IN PUBLISHING?

One of the great books of the 20th Century is Matisse’s “Jazz”. It is an absolutely gorgeous book. We don’t have a copy right now but it is certainly something that we come across from time to time.

IN TERMS OF CONSERVATION WHAT ARE THE PRIMARY CONCERNS AND TREATMENTS?

Luckily, a book is a self-protecting object. If it is kept in a good environment, it will be fine. Conservators are usually required to concentrate their attention on the binding and housing of the book. Other concerns that need to be addressed include foxing (age-related spotting and browning), water stains and conservation of the paper itself.

As with art, the condition of the book plays an important role in its value. For certain books, there are acceptable conditions that might not apply to other books. It depends, in part, to the type of paper on which it is printed. The points to consider do vary from book to book and that is where the expertise of the bookseller comes into play.

For example, a great collector’s item is Jasper Johns’ “FIZZLES”. Many copies have a great deal of off-setting, “Fizzles” was printed with a great deal of ink and not all of the pages were interleaved (layering glassine or another type of protective sheet between the pages) , a key to preventing the transfer of ink from the printed page to a neighboring page. If you want a great copy, this is the use to consider for this book.

THAT’S SO INTERESTING- LIKE THE REGISTRATION ON WARHOL PAINTINGS. I’D LIKE TO EXPLORE THE BUSINESS ASPECTS OF BEING A BOOKSELLER NEXT WEEK.. I WELCOME ANY AND ALL QUESTIONS AND CONCERNS THAT YOU WOULD LIKE TO POSE TO DOUG.  FIRE AWAY!  UNTIL THEN….

A collector’s paradise: art books and livres d’artiste

An extraordinary resource for art books and rare books is Ursus Books located at 699 Madison Avenue (62nd Street) in New York.  Formerly at the Carlyle Hotel for many years, art collectors, dealers, gallery owners and book collectors have gravitated to Ursus not only for the exceptional range and rarity of the books but also for their dedication to service.

I often say, “Doug makes me look good”, and he does! I like to send relevant art books to a client as a thank you and build an art library for the collectors who work with me. Doug is my very own Sherlock Holmes, suggesting and obtaining exactly the right books that focus not only on the artist’s work in general but also on a particular period or style that relates to the artwork that was just purchased.

I am so pleased that Doug has found the time to answer some questions about Ursus and its history with us. I welcome all questions and comments on this specialized focus of the art world.

DOUG, I HAVE BEEN A CUSTOMER SINCE I FIRST FORMED LRFA AND HAVE SPENT CONSIDERABLE TIME AT URSUS LOOKING AT BOOKS THAT HAVE COME IN OR CONTACTING YOU ON LINE TO RESEARCH A TOPIC FOR ME.THAT BEING SAID, I DON’T KNOW THE BASICS. WHEN WAS URSUS STARTED AND BY WHOM?

Ursus was founded in 1973 by Peter Kraus. His uncle, H.P. Kraus, was one of the great American antiquarian booksellers. Originally in New York at the Carlyle Hotel for over twenty years, we recently moved to 699 Madison and are delighted with our new location and exhibition space. Peter has always stocked antiquarian books with an emphasis on illustrated books. Ursus specializes in a combination of livres d’artiste and a strong art reference selection.

HOW DID YOU FIRST START WORKING AT URSUS/ HAVE YOU ALWAYS HAD AN INTEREST IN BOOKS OR IN ART OR BOTH? IS THAT INTEREST IN A PARTICULAR PERIOD OR STYLE OR MORE GENERAL?

My father collects books and I have a background in art history. I had my own bookselling business from my loft in Brooklyn that primarily focused on artists’ books of the 1960s, a personal interest of mine. Right after 9/11, my first child, a daughter, was born and I needed to combine my interests with the responsibilities of fatherhood. The association with Ursus Books happened organically. I had known Peter previously. I brought my specific interests in the field to the company and working at Ursus has expanded my scope of knowledge to a more broadened view of the antiquarian and art book business.

HOW DO YOU DECIDE WHAT TO ORDER?

We try to stock major reference books in a very large range. This includes catalogues raisonnes (that document every work by an artist); major monographs (Books devoted to a single artist’s works) that are of interest to collectors; important exhibition catalogues from both museums and galleries and we undertake extensive searches for catalogues that are scarce. Publishers produce their own catalogues on what they have in stock and what is forthcoming. Certain institutions produce great publications and it is important for us to stay on top of that. We pay attention to the exhibition activities of major artists and try to have those names, such as Richter, Ruscha, Modigliani, in mind when we order.

Some of our inventory selections are based on the customers themselves  -  their focus of interest. It is our responsibility to anticipate their requests and to know which books are available and are in the works.

THANK YOU,  DOUG. NEXT TIME WE WILL LEARN ABOUT THE BOOK MARKET, BOOK FAIRS, AND YOUR INSIGHTS IN THE CONDITION AND CONSERVATION OF BOOKS. I’D WELCOME ANY AND ALL QUESTIONS AND CONCERNS THAT INTEREST  YOU AND THAT YOU WOULD LIKE ME TO POSE TO DOUG.