Art captivates with its beauty, it overwhelms, it moves. All of these are useless goals for the survival of the body, of course, but they constitute essential nourishment for the soul. That's why art is inherent to human nature. But beware, art is also a business And it is precisely in this more prosaic area where it commands such great respect that it can put many off.
Elisa Hernando (Madrid, 1973) has built bridges for novices who want to embark on the adventure of buying works of art. Part of her work consists of guiding those who don't know where to start. She holds a PhD in Economics and Business Administration and Art History, and in addition to her company Arte Global, which has been dedicated to corporate collecting consulting since 2003, she has launched an online platform (RedCollectors.com) and has been managing the First Collectors program at ARCOmadrid (International Contemporary Art Fair) for 13 years, which begins on February 22nd in Madrid.
Through these two vehicles acts as a guide In a universe sometimes as cryptic as art collecting, where not knowing the codes is like falling into a labyrinth. Elisa Hernando is, therefore, like Ariadne's thread. If you are interested in art, would like to buy some piece If you have some money for this (it doesn't have to be millions), stay a little. Newbies are welcome.
Global Art
- Does the inexperienced art buyer need guidance?
- At Arco, for example, we see people who don't have much money (€1,000, €2,000, €6,000...) and come to the Fair intending to buy. But it's very large; they see one work that costs €50,000 and another that costs a thousand. Why such a difference? Yes, they need guidance. We help them with the artists, the galleries, the works... depending on their budget. In the 13 years of First Collectors, we've served around 600 buyers.
- So, you don't need to be a super expert.
- It is precisely in that program where I see that there are normal people who want to buy and that is why I launched on the internet in 2017 with RedCollectors.com. Anyone can sign up, and we do virtual gallery tours, for example, give informative talks, and answer questions about whether an artist has a chance, whether the work is framed, what kind of paper it's on, etc. The great thing about being online is that anyone can buy works from anywhere in the world. We publish pieces of all price ranges. What we do is make it easier for those who enjoy a piece to buy art.
- You don't have to be a millionaire either?
- No. For 500 euros you can buy an engraving.
- What kind of pieces do people buy the most?
- Paintings, sculptures, photographs, prints... 80% of purchases are usually paintings.
- At each edition of ARCOmadrid, an eccentric work of art is showcased, selling for an exorbitant price. Do people really buy these things?
- At ARCOmadrid, we don't get asked about works like this. People want painting, more traditional works. There are people interested in conceptual art, but they're few and far between. A glass half empty At 20,000 euros, for example, it's a tough sell. It's more of a media issue.
- What is the profile of the "novice" buyer who uses your platform?
- They're digitally active and are between 30 and 50-55 years old. It's a generational thing. They do feel comfortable buying without having to see the work in person. You can live in a town in Galicia and it might not be easy for you to go to other places to see an exhibition. We work with galleries in Spain, Portugal, France, and Germany, and we also bid at auctions around the world on behalf of someone. We've never had a refund. Older people, on the other hand, do need to see it.
- Are there many speculators in the art world?
- I've been advising businesses and individuals for 20 years. Very few people come just for the investment: I haven't seen more than four or five. Normally, people buy for aesthetic and also social reasons, that is, to enjoy sharing a work. It's true that, once you buy it, you want it to appreciate in value, which isn't the same as looking for an investment. You want to have the work, enjoy it, but also know that if you ever need it, you'll be able to recoup what you spent, or make a profit. But if you sell it, you don't do it quickly. There are also those who want to leave that wealth to their children. Art isn't suitable for speculators. It's not stocks. You need a 10-year period for a possible appreciation in value. Keep in mind that the artist is creating and needs that time to grow and forge their career.
- How do you know if a work is overpriced?
- There are several ways. For example, comparing it with other similar artists. If an American sells something for 40,000 euros and a Chinese artist of a similar level sells for 200,000 euros, there's something wrong. The price is closely related to their resume, their level of progress, and their creativity.
- Do you collect?
- Yes. My first purchase was a Chillida print, which I bought in installments for 100,000 pesetas. I don't buy much, but I have an annual budget and I monitor and decide how to spend it. Personally, I'm very interested in art that has a message, that makes you think, although I also like abstract artists whose work is purely aesthetic.
- Do you still have that Chillida? How much would it cost today?
- I don't sell my pieces. I bought them about 20 years ago, and today they could easily fetch 6,000 euros.
- Where do people keep their works?
- In his house, but if you don't have enough space, there are specialized art stores. You can also change them every year...
- Which cities are key hubs in the art business?
- New York remains the most important place. Paris is very strong now. Many galleries are opening because Brexit has displaced London. And be careful, Madrid is a wonderful city for contemporary art, and ARCO is a hugely important event in our sector. We have the talent and we must believe in it.
