Tea Vestrayh-"how to assemble a collection of ......"

What new horizons open man collecting?
- First of all, it is an opportunity to learn new and move forward. Secondly, when it is possible to collect an outstanding collection - the one whose value and importance over the years, only increasing, the person has the feeling that he has achieved much. It is very consoling pride, because we judge a man by his hobbies. Finally, starting to collect art, will inevitably get in the world of very interesting people - artists, collectors, gallery owners, museum professionals, and they are yours minded. But perhaps the most important experience obtained by a collector - this is an opportunity to taste a very special feeling of love for art.
How did you come into the world of art?

- I started consultant for the National Endowment for the Arts in Washington. Gradually I was able to earn a reputation in the art world - first from the major art institutions, and then among collectors. I started to apply for private consultations, and eventually it grew into a business. Already in the early 1980's, working directly with artists and collectors, I began to publish limited edition books about artists - about Richard Prince, Martin Kippenberger, Mike Kelley, Larry Clark, Jackie Pearson, Sophie Kahl and Elizabeth Peyton. Now we Ethan (husband of Thea Vestrayh Ethan Wagner, owner of Thea Westreich Art Advisory Services. - OS) continues the series, recently came a five-volume edition of the Belgian artist Jana de Coquet.

How do you have an idea of such a publishing project?

- The fact that my husband and I are obsessed with a passion for books. Now in our library of 12 thousand volumes on the history of art. They are very helpful in the work: when you want to find information for our clients, the necessary literature is always at hand. In addition, we are personally familiar with many living artists, and it would be foolish not to use the opportunity to publish books about them, drawing on information from the source.

You said that these publications help support your work. Tell me more, what is the work of art consultant?

- Our main objective - to provide maximum information to our clients. First of all, you must define the goal of each collector, and then to articulate a vision, how and what to buy. Formation of the meeting with an art consultant - is always a process of joint activity, both party's only win if they have a clear understanding of what they want to achieve together.
We constantly monitor the state of the art market, in time to catch the most opportune moment to buy things that would satisfy the interests of our clients. Our daily work is related to the search and acquisition of the best works of outstanding artists, regardless of time of their creation, technology, nationality of the artist or price range. Simply put, the market is of great works of Pablo Picasso, Andy Warhol and Richard Prince, and all three, of course, the most significant artists of his time. But the value of their work can vary widely. Choosing the right product of a great artist - this is a difficult and crucial decision ... You can, of course, simply place a bet on brands and thoughtlessly buy the works of famous artists, but this approach ultimately failed to yield the desired dividends collector. No less important is the ability to buy things at the right price, but in order to correctly assess the work, you need to have a database for comparison, but it comes only with experience. I would call the two main ingredients for success in our profession - is access to information and knowledge.

What qualities do you think, should have a good art consultant and that makes it work best?

- A professional in this field must necessarily have knowledge of art history, expert skills and unerring artistic instinct. In addition, it is necessary to understand all aspects related to collecting works of art - in the storage, restoration, examination, and attribution, and also personally know the leading experts in these fields. We have over 25 years in art business, and during that time we were able to not only build the library, which I have already said, but also compiled a database of art market over the past 20 years. It reflects an offer to sell, prices, and that those who bought at auction, and not only information about the selling price, which is readily available on the Internet. Also we have a "behind the knowledge and experience that can properly analyze all these data. For two decades we have overgrown connections among artists, gallery owners, journalists, publishers, and museum professionals - anyone who can help us to get full information and get the most hard to buy the work.

Is there a kind of code of ethics for art consultants?

- This is a very important question. Indeed, in our work we adhere to certain rules. The main thing for us - meet the highest interests of our clients: to provide them with complete and accurate information so they can make an informed buying decision. For each work, which is thinking about buying a collector, we give him a package of documents: a description of the work and our view of its value for a particular collection, provenance, description and preservation of data on the sales of this artist in the market. We always conduct their own research and not rely entirely on information provided by the seller.

Finally, our work is paid only by our customers, and we never take a percent of sales from third parties, whether galleries or auction houses.

Often, starting to gather a collection of people turn for advice to art dealers, auction house experts and museum specialists. How do you feel about this practice?

- All of them: and dealers, and museum workers, professionals and auction houses, even if the professionals at the highest level - primarily pursue their own interests and work for themselves or their company, rather than the collector. This does not mean that their advice may not be useful for obtaining information, but completely trust only their opinion in matters of acquisition of work I would not.

A few months ago in the magazine New York Times published photographs of your collection. How do you manage to combine the work of art adviser to collecting your own collection? Is a conflict of interest?

- In fact most of my collection consists of works previously rejected by our customers. When my husband and I bought a Jeff Koons, Cindy Sherman and Richard Prince, they were still untested artists, and collectors have sometimes hesitated to purchase them. For example, we bought a late self-portrait of Warhol, who many considered a minor work of a first-class artist, but we felt otherwise.
On the other hand, collectors have more confidence in the consultants who have their own assembly - in fact we advise people to invest in art, and it is important to show that the same thing we do ourselves.
How did you manage to turn their passion for art into a successful business?

- My interest in certain artists and their works all the time encouraged me to learn new things, to analyze, identify what is good and what is not. These skills and knowledge needed for making purchasing decisions. At some point I realized that many collectors need to ensure that their collection formed the same enthusiasm, dedication and thoughtful, as I choose things for themselves.

What kind of collector you'll find is the ideal customer?

- Professionalism in fact and is to be able to find the approach to any client. However, each time meeting with a potential customer, we hope to find a serious and enthusiastic person who is ready to act. It is essential to mutual trust. The better shape our relationship, so better results can eventually be achieved. When unable to establish contact with the man, the easier to understand his personal preferences and goals.

What if the collector's interests are different from your own?

- Over all we like to work with clients who have a taste and opinion: that it creates a unique collection, and the quality and variety. Advise the same art correctly and uninteresting. Just say "I want to buy Koons" - a bad approach, but to say "I want a great thing Koons, and then define a job and be able to buy it - the key to building world-class collection. Most often, the entire collection is more expensive than its individual parts - are known examples where the work sold more expensive because of the context, because of the collection, in which they were. Some collectors have a reputation of people with impeccable taste, so the things that they choose, will be highly valued.
- The question inevitably arises about the subject of art as an investment destination. Does the your strategy when dealing with investors?

- No. Our activities are aimed at searching for and acquiring outstanding works, but it does not exclude the fact that they have and the investment value. History of art market, with all its ups and downs, has confirmed it. In the long term quality of the product and its price is leveling off: over time the value of great art is always growing. However, over the past ten years we have seen examples and feedback, but this can easily explain the high price does not guarantee the quality of work.

- In recent years due to severe recession Art Market seriously "dipped". How do you advise collectors to behave now?

- I propose to its customers derive maximum benefits from this situation: history has shown that the crisis - is the perfect time to acquire the works of the highest quality that have not previously appeared on the market or the cost is unreasonably expensive. This possibility is now rarely granted, because today good work sell only those who really need the money. The other owners are trying to hold things until better times, which sooner or later bound to happen.

- Does you sell your customers work? How to operate the collector, who decided to part with the assembly or part of it?

- Each collector comes sooner or later to make to sell something. At least in order to bail out the money and buy another thing. In this case, our task - to help the client get the maximum price for this work. For this, we first determine the real value of the subject, and here it is as important as correctly evaluate the performance of the purchase. Then we outline several ways to sell: if the thing was acquired in the gallery, you first should find out how much they are willing to offer the collector when it is resold. Simultaneously, we will determine what will be the estimate of the auction. It must be noted that our long-standing relationship with the leading auction houses often allow customers to bargain: they can be reduced by fees and often can save on transportation costs and insurance. In addition, in some countries the law allows both to alter one product to another. Therefore, if our client sells a work to buy another, there are ways to do this the least expensive way.
Translated from English by Anna Savitskaya