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Interview with...Judith Selkowitz
by Ketty Maisonrouge
Judith Selkowitz, the founder and president of Art Advisory Services,
Inc, has advised American and international corporations on the acquisition
of millions of dollars of artwork for a quarter of a century. She pioneered
the art consulting business in 1970, with her first client, Xerox. She
studied Art History at Skidmore College, in New York and in Rome as a
Fulbright Scholar. Before establishing her own company, she was the curator
of a private collection, an art researcher at the Smithsonian Institution,
a lecturer at several prominent art institutions, such as Harvard Graduate
School of Design, and authored articles which have been regularly featured
in national periodicals. Ketty Maisonrouge, the U.S. Representative for
Etude Tajan, conducted the following interview, in which Ms. Selkowitz
discusses collecting trends in the corporate and private worlds.
Could you please describe how you work with your clients?
I deal with corporations, architects, designers and individuals from all
over the United States who might be interested in a major collection or
in just buying and selling a few very big prints, or solely one or two
paintings. I go to see the clients to talk about their needs, where they
would like the art, how they see their art program and what type of art
they might like. If I am working with a corporation I try to read their
annual report to get a sense of what the company is all about and to learn
what they want the art to say about themselves. Are they conservative,
are they avant-garde, do they want to be flashy, do they want to have
an image of establishment and yet, at the same time, one of looking ahead
to the future? I take all of these factors into consideration when I buy
art for a client.
What are your resources?
As I have been in the art business for 25 years, we have an enormous data
bank which consists of all kinds of art, including antique posters, photographs,
textiles, 19th century modern and contemporary European and American paintings,
works on paper and sculpture. We also know where to get certain pieces
like Japanese screens. So we always have access to the art market and
only need to use the computer to find the particular art we want. For
instance, if we are looking for some 19th century paintings, the data
bank tells us who has the types of things in the price range that we need.
We then call these particular individuals as we often deal with private
clients. So in addition to using the data bank, we buy from private clients,
private dealers, major galleries and auction houses. The resources we
use depend on what we need.
Is price a major factor, especially for a corporation?
Yes, I think that price is very important to everybody today. Also, one
of the things that happened in the last 5 to 10 years is an increase in
mergers and acquisitions, so, many clients have been taken over. For example,
RCA was taken over by GE. One of the results of these M&A battles in the
past 5 to 10 years, is that mid-sized companies as well as professional
corporations such as law firms and accounting firms who want to have a
good image, have all started to buy more art. Ultimately, people today
are much more aware of the bottom line and do not want to pay too much
money for art like some people did in the late 80's. They want good quality
and are more discerning, buying better and fewer pieces as opposed to
lots of pieces.
Do you think that there is an important new trend of collecting in New
York and in the United Stades? What are your own changes in terms of trends
in the last 10 years? You already mentioned that more medium-sized companies
buy art today. Are there other aspects that you think have changed in
the past 10 years?
One change is that in the late 80's and early 90's people only wanted
to collect what was trendy, such as pieces by all the neo-expressionist
and conceptual artists. Today I think people are collecting many different
things. They are also beginning to collect pieces that people formerly
did not consider. For example, in the past 5 years I think there has been
a tremendous explosion of people collecting crafts including glass and
ceramics. Another new collecting trend is that people are buying more
drawings and watercolors and smaller works. People are also collecting
contemporary photographs partly because they are affordable. People are
also much more price conscious today. In the late 80's spending $50,000
to $l00,000 on a piece of art was not necessarily a major purchase but
now spending over $20,000 to $50,000 for one item is considered a fair
sum for a large mid-sized or fortune 500 company or even private collectors
in general. However, if the artwork is great and is terrific quality,
it will always get top price. So if somebody is asking $100,000 or $1,000,000
to $2,000,000 and it is a really great work, the owner will get his price.
Where do you buy for your clients? Do you buy pieces mainly at auctions
or with private dealers?
I buy internally everywhere. I will buy pieces at auctions in the United
States or Europe when I see something that is really good. For example
I receive Tajan catalogues and have often called my clients to inform
them of the pieces that I have seen and offer to have someone check the
piece for them in Paris and to bid for them.
What kind of advice would you give to new corporations who want to
buy art? Would you tell them to consider art as an investment or as something
to love? Do you have different advice for private collectors?
When a corporation buys a piece of art, I give them the following advice.
I tell them if they spend over $10,000 on an item they should be aware
that not everything is an investment, what is the possibility of the piece
accruing in value and if the piece is just decorative in the space more
than anything else. Certain clients feel that after spending a considerable
sum of money, they want a piece that will accrue as well as look good.
The most important thing though is that they enjoy the art and that it
looks good in the space. Secondary is that the art will appreciate in
value. For example, in the late 70's we bought $150,000 worth of art for
one client and at the time, art was not that expensive yet now that collection
is worth well over $ 1,000,000. Yet we did not buy solely with the idea
that the art would be an investment.
Are you a collector yourself? What is your preferred period? Are you
a "scholar" in a particular field? Is there a recent exhibition that has
really captured your interest?
I have been an avid collector since I was a teenager. I grew up in the
country, in Massachusetts, where I frequented old estate auctions and
I first started buying 19th century American paintings. At that time,
these paintings were only $50 and $100 and it was great fun. In the old
days, when Parke Bernet was on Madison Avenue, you could feel very successful
with only $300 on a Saturday. You could buy yourself a little painting
or drawing or a chair and say that you had a great day for $300. I personally
collect lots of different types of art such as 19th Century, 20th Century,
Modern, Contemporary, European and American pieces. I especially like
to collect drawings and watercolors and specifically architectural drawings
and watercolors including Stanford White drawings and I have Lutygens.
I also like beautiful objects - whether it is a Puiforcat tea set from
the 20's or an Art Nouveau turn-of-the-century vase. I just like things
that I think are exciting and elegant and very classical. I also like
being eclectic and buying lots of different things that I just enjoy.
I learned years ago that if you want to sell something, you have to buy
one for yourself and two to sell, otherwise you will never be able to
part with that one piece that you bought. So collecting is fun and I think
that the important thing is that art still gives me a lot of pleasure
and it is fun to try to impart that to the client as well.
Maximize
Art and Corporate America
Contract 11/00
Judy Selkowitz '62 and Art Advisory Services
Columns 11/98
Art and the Images of Corporate America
New York Times 6/21/92
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