In these days, it’s easier to get a physical and tangible asset, like a modern console or a high fashion sideboard, to grace your home and add another dimension to your own portfolio investment. Now, most of these investments have a bond to art and antiques, that if you have an eagle eye for discover new pieces, you might actually make some real money.
That’s why our blog, made an interview with one expert in this matter, to know if art acquisition is a true investment.
BRABBU introduces you Tom Sargent, an art and antiques expert.
Tom Sargent works as Client Manager of Artscope at Aon Private Clients, he specialises in high net worth items in auction, antiques and art. Previously worked in the auction industry for 6 years at Bonhams & Butterfields and Christies auctioneers where he valued antique furniture and Works of Art. Here he gained useful knowledge on how the art and high net worth industries operate working with dealers and collectors as well as sellers. He has now worked in insurance for over 5 years and manages a variety of policies including auctioneers, private art, dealers, high net worth, council and university collections.
When did you realize that Auction, antiques and art was your passion?
When it dawned on me how bland mass produced furniture and decoration could make a living space. The individuality and heightened quality of design of art and antiques is becoming more and more desirable accentuating the need for advice on the financial aspects.
What are your client’s expectations when contacting you?
Our clients need to reassured that we understand the fragile nature of art and the intrinsic hazards. For example:
– Transporting ceramics
– Depreciation in value from restoration
– Improper title to art
– Using sympathetic restorers
– Specialist valuations
We need to know the policy cover thoroughly and be able to identify what cover a client requires and other covers they don’t, which can save them money. We also allocate personal client managers so that clients don’t get fed into large call centres and the client manager can get a better understanding of their needs.
What are the biggest challenges when working in this industry?
Clients taking out standard insurance and finding they have insufficent cover. In the long run they might be losing money. It’s also a challenge to stay up to date with market trends but can be essential when advising clients.
What do you expect to be doing five years from now?
Bringing to market more policies for younger buyers.