Philip Hoffman, founder of the Fine Art Group and former Christie’s director, shares insights with Jewish News on the increase in younger art collectors.
Trend in Younger Art Investors
The Fine Art Group, with a clientele predominantly under 40, is leading the way in this new era of younger art investors. These investors, as Hoffman explains, see art as a means of diversification and are increasingly comfortable treating their art collections as assets. However, the art market can be a complex landscape to navigate. This is where the Fine Art Group stands out. Their role is not to dictate purchases but to empower clients with knowledge, ensuring they are well-informed before making any decisions.
Click here to read the full article in the Jewish News.
The Fine Art Group is honored to have Freya Stewart recognized by Spear’s Magazine as a top-recommended professional in the Art Finance field. Freya has been ranked as an expert in the art finance industry for high-net-worth individuals in the UK.
Please contact Freya Stewart or Ei-Linn Liew with any art financing needs you or your clients may have.
VIEW THE LIST AT SPEAR’S MAGAZINE
Spear’s 500 Best Art Finance Advisor List
Colleen Boyle, The Fine Art Group’s Managing Director of Business Development and Philanthropy Strategy, was a guest on Ren’s Philanthropic Insights podcast series that explores tax-smart giving strategies.
In this episode, Colleen Boyle, Managing Director at The Fine Art Group, shares insights on passion assets. Colleen shares 20+ years of expertise in art and finance. As a Chartered Advisor in Philanthropy, she guides clients on passion asset donations, offering insights into art valuation, legal analysis, and strategic monetization for charitable causes.
Patti Wong, founder of Patti Wong & Associates, joins the esteemed M+ Board of the West Kowloon Cultural District Authority (WKCDA). With a decades-long career and a profound understanding of cultural dynamics, Wong brings invaluable insight to the board’s vision. Her strategic acumen and dedication to advancing the arts align seamlessly with the ambitious goals of the West Kowloon Cultural District, ensuring its position as a global cultural hub. As the district continues to evolve, Wong’s appointment heralds a new chapter of innovation and excellence in Hong Kong’s cultural landscape.
To read more click here.
Philip Hoffman, Founder and CEO of The Fine Art Group, and Patti Wong, Co-founder and Partner of Patti Wong and Associates, joined Josh Baer at The Upper House during Hong Kong Art Week for the first installment of the Baer Faxt Talks series. The conversation delves into the advisors’ wealth of experience, revealing behind-the-scenes anecdotes from their collaborations with prominent collectors worldwide.
Watch the complete discussion on art advisors and strategies for navigating today’s art market by clicking here.
Philip Hoffman, Founder and CEO of The Fine Art Group, and Patti Wong, Co-founder and Partner of Patti Wong and Associates, joined Josh Baer at The Upper House during Hong Kong art week for our inaugural edition of The Baer Faxt Talks series.
Moderated by Rahul Jacob, former Hong Kong Bureau Chief of the Financial Times, this conversation about art advisors and how to navigate the current art market features behind-the-scenes stories from each of the three advisors’ decades of experience working with top collectors around the globe.
In the wake of Art Basel’s return to Hong Kong, Philip Hoffman, founder and CEO of The Fine Art Group, spoke to Bloomberg about the cautious yet opportunistic stance of art dealers and collectors amidst a subdued market environment.
Hoffman reveals that their esteemed clients remain poised to seize promising investment opportunities, reflecting the resilient allure of the art market amidst economic uncertainties. “The dealers are coming here with lower expectations than five years ago amid a quieter market, but our important clients have asked us to report back on what’s here and are ready to spend if they see the opportunity.”
Click here to read the full Bloomberg article.
As 2023 wraps up, Chairman of The Fine Art Group, Australia & New Zealand, Roger McIlroy, spoke with the Australian Financial Review on the art market performance in 2023.
GOOD YEAR FOR AUSSIE AUCTION HOUSES
When discussing what has factored into the success of the Australian art market over the last year, McIlroy shared this: “I think the market will still concentrate quite heavily on the unique and the top end, the really top things, because there’s plenty of people around who want to buy the top things and in any cycle those things do very well.”
Click here to read the full article in the Australian Financial Review.
Full Article.
Following the marquee sales of 20th/21st century art in New York, Philip Hoffman spoke to The New York Times regarding the state of the current art market.
AN INTERESTING AUCTION SEASON
With 14 live sales across the major houses—Christie’s, Sotheby’s, and Phillips—the November season saw many challenges. “While in art market terms it was a success, in business terms it was an expensive investment,” said Philip Hoffman.
Click here to read the full article in the New York Times.
Full Article.
ART AS AN ASSET CLASS LEADERS
Observer’s 2023 The Business of Art Power List: Art as an Asset Class has listed Philip Hoffman, alongside Allan Schwartzman, as a leading authority on transforming art as an asset class. Patti Wong & Associate’s Daryl Wickstrom was also named by the Observer as one of the Most Influential People in the Art World Today.
BUILDING THE FINE ART GROUP
Hoffman has a history of making smart decisions for himself and for the collectors and investors he serves. At 27, Hoffman became the youngest C-level executive Christie’s had ever appointed and stayed with the auction giant for the next 12 years, becoming its deputy CEO of Europe before leaving it all behind to launch his own firm. His clients include high-net-worth families—30+ billionaires, as he has described them—plus private equity firms, hedge fund managers and real estate developers around the globe. “Smart people would build an art collection with an advisor who understands how to make money, and they can buy art that they love and make a lot of money at the same time,” Hoffman told Observer in 2019. Fast forward to today, and he’s still 100 percent focused on building The Fine Art Group into the number one partner for those looking to transact at the highest levels of the global art and collectibles markets. “Assembling the most experienced and talented team in the industry worldwide is a key priority,” he tells Observer. “We look forward to expanding our network and bringing a number of new, very experienced colleagues on board.”
Click here to read the full article in Observer.
Click here for the full article.
Patti Wong, Founder of Patti Wong & Associates, and her successful acquisition of Gustav Klimt’s Dame mit Fächer (Lady With a Fan) on behalf of an anonymous Hong Kong client for a record-breaking $108.4 million was the main topic of Artnet News’ article, “Who Bought the Mysterious Klimt at Sotheby’s? An Equally Enigmatic Hong Kong Power Broker, Some Believe.”
Philip Hoffman, Founder and CEO of The Fine Art Group, spoke with Katya Kazakina of The Art Detective about clients’ interests in the most recent May auctions for the article.
Click here to read the full article on Artnet News.
Newsfeed image credit: Gustav Klimt, Dame mit Fächer (Lady with a Fan) (1917-18).