THE ART BUSINESS CONFERENCE IN ITS FIFTH YEAR IN LONDON IS IMMINENT, A MUCH ANTICIPATED GATHERING FOR SENIOR ART MARKET PROFESSIONALS. LEADING EXPERTS FROM THE ART WORLD JOIN FORCES WITH BUSINESS LEADERS AND TECHNOLOGY EXPERTS TO SHARE THEIR INSIGHTS ON THE BUSINESS OF ART. FOUNDED AND DIRECTED BY LOUISE HAMLIN, INTRODUCED IN OUR LAST POST, THIS WEEK THE LRFA BLOG POST IS PLEASED TO PROVIDE THE DETAILS OF THE NEXT LONDON MEETING BEFORE RETURNING TO LOUISE’S INTERVIEW.
JUST AS A PICTURE IS WORTH 1000 WORDS, THE AGENDA OF THIS PROGRAM SHOWS WHAT A PROFOUNDLY PRODUCTIVE DAY THIS WILL BE. HELD ON TUESDAY, 4th SEPTEMBER 2018, AT THE CHURCH HOUSE CONFERENCE CENTRE, WESTMINSTER, LONDON, THE 2018 AGENDA IS AS FOLLOWS:
9.00 – 10.00: Delegate registration and breakfast networking in the Business Pavilion and Media Lounge
10.00: Opening remarks from the conference chair, Georgina Adam
Georgina Adam has spent more than 30 years writing about the art market and the arts in general. She was editor of the Art Market section of The Art Newspaper 2000-2008, then editor at large. She writes a weekly column on Saturday for the Financial Times. In addition to her specialisation in the art market, Adam is particularly interested in emerging cultural centres.
10.00-10.15: Opening Keynote Speech: Michael Ellis, Minister for Arts, Heritage and Tourism.
10.15 – 11.15: Because it’s worth it – Valuing Contemporary Art: Contemporary art can be the most volatile market in the art world. But who decides what it is worth? And how? Four specialists in this area – a gallerist, collector, Valeria Napoleone, a dealer on the secondary market and Ralph Taylor, Global Head of Post-War and Contemporary Art at Bonhams – discuss how values are established from the artist’s degree show to appearing on the block at auction. Also up for consideration is how societal shifts in politics and world geography can make an impact on the careers – and value – of certain artists’ work. This session will be moderated by Melanie Gerlis (Financial Times)
11.15 – 11.30: Morning refreshment break and networking in the Business Pavilion and Media Lounge
ONE OF THE MOST EXCITING AND TIMELY TOPICS IN TODAY’S ART MARKET IS THE USE OF BLOCKCHAIN AS A TRANSPARENT MEANS TO ESTABLISH THE OWNERSHIP HISTORY OF A WORK OF ART. IN THIS YEAR’S ABC LONDON CONFERENCE, THIS SUBJECT WILL BE EXPLORED IN DEPTH BY A PANEL OF VERY KNOWLEDGABLE ART AND TECHNOLOGY EXPERTS.
11.30 – 12.30: Provenance and the Blockchain: Issues and Future Visions: This panel explores the topic of provenance and due diligence in the art market. The session will open with an introduction to the blockchain and this will be followed by a discussion that will assess current approaches to ownership history and investigate the likely future impact of blockchain technologies on the market. Issues we seek to explore include:
- What is the current state of provenance research in the art market?
- What impact might the digitisation of catalogues raisonnés have on approaches to provenance?
- Could the blockchain revolutionise how we address provenance in the future?
- Should we be seeking an international industry standard for the recording of provenance in catalogues raisonnés, auction catalogues and archives?
- Can provenance research be applied to the market for antiquities and cultural heritage?
- How can collectors be encouraged to engage with the importance of provenance, particularly as prices rise and risks multiply?
- How might artists be affected by these new technological developments?
- To what extent might such emerging technologies disrupt traditional approaches to art business more generally? Speakers: Robert Upstone, (Robert Upstone Ltd), Jess Houlgrave (Codex Protocol) and Gareth Fletcher, (Sotheby’s Institute), moderated by Tom Flynn (Flynn & Giovani)
Codex is a decentralized registry for unique assets like art, fine wines, watches and more. Use cryptocurrency to buy $6 billion of art and collectibles today, and plug into a growing ecosystem of third-party services. Codex stores an item’s identity securely on the blockchain as a Codex Record. We make it easier to buy, sell and manage assets of all kinds.
12.30 – 12.55: Presentation: The Fifth Anti-Money Laundering Directive – what does this mean for the art trade?
This session will ask: why us? What the AML regulations seek to prevent & how do they do it? Who is required to comply with the regulations? What does compliance involve? Plus Practical issues for KYC, understanding the transaction, source of funds & risk assessments. This practical session will offer guidance and advice. It is now relevant to any business selling works of art in transactions valued at €10,000 or more, regardless of the payment method used.
Speaker: Mathilde Heaton (RAM – The Responsible Art Market Initiative) and Adrian Parkhouse (Farrer & Co)
12.55 – 13.00: Presentation: Have We Taken the Commoditisation of Art a Step Too Far? Speaker: (Willis Towers Watson)
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has over 40,000 employees serving more than 140 countries.
LET’S JOIN THE ART BUSINESS CONFERENCE FOR ITS LUNCH AND NETWORKING BREAK AND DISCUSSION TABLES AND RETURN IN OUR NEXT LRFA BLOG POST TO THE AFTERNOON SESSION. IN THE MEANTIME YOU CAN MAKE YOUR PLANE AND HOTEL RESERVATIONS!
AND FOR THOSE OF US STUCK ON THIS SIDE OF THE POND, THERE IS ALWAYS THE GREAT NEW YORK ART BUSINESS CONFERENCE NEXT SPRING, AT TIME WARNER, TO ANTICIPATE.