PRESS HIGHLIGHTS
5 TAKEAWAYS FROM AUCTION WEEK
“What happened was a reminder to people about how susceptible prices are to changes in taste,” said Doug Woodham, an art adviser and former Christie’s executive. “And taste changes are the predominant driver of long-term change in prices.”
AUCTIONEERS BID TO CLONE LIVE EXPERIENCE
“Splashy digital experiences are here to stay for auction houses — but the costs of creating them are high,” said Doug Woodham, founder of Art Fiduciary Advisors in New York and a former president of Christie’s for the Americas. “If you have to be banging out 20 compelling videos for every evening auction, as well as making cool private content, it’s expensive.”
WHY AN ART COLLECTOR’S ESTATE NEEDS TIGHT PLANNING
”Doug Woodham, founder of Art Fiduciary Advisors in New York and a former president of Christie’s for the Americas, says the dilemmas facing the wealthy over art legacies typically stem from the fact that heirs will feel much less passionately about the works than the collector who amassed them.”
THERE ARE MILLIONS OF NEW MILLIONAIRES, BUT NOT AT ART SALES
“The art world seems to have a conversion problem,” said Doug Woodham, Managing Partner at Art Fiduciary Advisors in New York.
ROCKEFELLER ART SMASHES RECORDS AT CHRISTIE’S
"After the sale, art adviser and former Christie’s auction executive Doug Woodham said the fact that Mr. Rockefeller—scion of one of the greatest Gilded Age fortunes—owned these works had likely boosted their sale prices by as much as a third."
ART IS SEEN AS A GLITTERING INVESTMENT. WILL NEW TAXES TAKE OFF THE SHINE?
“It’s a very risky asset. There are booms and troughs. There are high transaction costs and it’s easy to be taken advantage of,” said Doug Woodham, managing partner at Art Fiduciary Advisors, based in New York.
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ADVICE ON COLLECTING ART - DON'T BUY WHAT YOU LOVE
"Doug Woodham’s introduction to the market is both insightful and accessible."
HOW THIS LEONARDO'S MIND-BLOWING PRICE WILL CHANGE THE ART MARKET
“It was an extraordinary and mind-blowing result,” said Mr. Woodham, a former Christie’s executive. The sale, he said, would “create a whole new generation of people trawling low-end auctions and garage sales for undiscovered masterpieces.”
THE PITFALLS OF INVESTING IN ART
"Mr. Woodham’s book is an elegant, amusing and perceptive guide to a market that is (often) long on hocus-pocus and short on transparency."
'WHAT'S NEXT? AN UNCERTAIN ART WORLD ASKS, STICKING TO PROVEN BRANDS.
"Mr. Woodham’s book contains startling information about the number of people in the market for the world’s most expensive art."
ARTISTS' ANSWER TO A CHANGING MARKET? BECOME A BRAND
"Woodham proposed that we’re currently living in the best era in which to be an artist, given the level of awareness and appetite for art. That’s true even outside of the relatively small subset of artists who make more than $1 million a year, who, he estimates, number between 300 and 500."
