On July 14th Olyvia Kwok featured on the BBC documentary, The Banker’s Guide To Art. The documentary takes an inside look at the high stakes world of art collecting and investing.
In recent years, the value of London’s art market has soared to unprecedented heights, driven by the nouveau riche of the financial world, whose money has poured into the bank accounts of dealers, galleries and auction houses.
In the documentary, Olyvia Kwok is introduced as a ‘new kind of dealer’, whose focus is on a sophisticated financial analysis of the market.
Lots of people come to us, to buy contemporary art, they will actually use it as a financial instrument. They like to, as we call it, to play in the art market – to have a bit of fun and to get a good return – a double digit return. And for that to happen, timing is very important and you have to do it quite fast.
Before we buy something, we’ll do a stock picking presentation to our client, and we’ll give a reason – we’ll see how many paintings has this person done, how many paintings per auction and how many paintings have been repeatedly been sold, “and therefore our verdict is that this is a safe thing for a period time”.
A lot of people compare investing in contemporary art as being better than investing in property, because property has a lot of maintenance, and in storage of art you don’t – you just leave it there and pay the insurance and that’s it. And when you want to sell, you market it and that’s it – not too much fuss.
The full documentary can be found here: https://youtu.be/ovQNNxnvodM