Contemporary art valuation
Two-day art business course
30 September 2017 10am - 5pm1 October 2017 10am - 5pm
The Life Room, RA Schools, Piccadilly
£290 for one day / £540 for two days. Includes all materials, light refreshments, lunch and a wine reception at the end of both days.
Friends of the RA book first
Terms and conditions
This weekend course offers practical insights into valuation – one of the most opaque aspects of the art world – focussed on one of the most exciting and buoyant sectors: contemporary art. Discussion of strategies as well as underlying structures, systems and practices provide insight in the process of valuation, drawing on both cutting-edge theory and real-world expertise.
Contemporary art has provided one of the most exciting growth stories in recent decades. The sector has grown in both breadth and depth with more artists from across the world and more collectors interested in a range of works of art. Record prices continue to astound and conflate expectations. On the eve of the busy art fair season and weekly gallery show openings in London, the topic of valuation and price is as critical as ever.
If one of the most controversial activities in the art world remains the attribution of value, valuation and the assignment of price – this is even more so the case in the contemporary sector where there is often no history and many artists are new and unknown in the market. Yet it is here that the biggest opportunities and risks exist.
Understanding the value of art, pricing and valuation is at the centre of much of the contemporary art world and a challenge which most people who engage with the arts will at some point face. Valuation and pricing is critical not only for the commercial art world but also for practicing artists as well as public institutions tasked with preserving and protecting art and cultural heritage for the future. It is also critical for collectors and anyone interested in working in the sector.
"There was a good combination of theoretical background and practical considerations. I feel like I can use it as a basis for further learning."
The art of valuation and the value of art, course participant, February 2017
In the art world, valuation and the price setting process are often unclear and rarely openly discussed, let alone taught. However, ultimately both price and perceived value is critical to all trade and transaction in the art world. When carried out correctly it serves an important function in preserving art and cultural heritage.
This course covers a number of core tools and techniques linked to art valuation which are commonly used by art market experts. We will explore a step by step approach to art valuation which includes both quantitative and qualitative measurements. The course also provides overview of the art market sector and how value is determined by and across different market participants.
"Anna Lipskaya and Anna Dempster were energised, clear, concise speakers who were experts in their field."
The art of valuation and the value of art, course participant, February 2017
Following on from the extremely successful general valuations course held at the Royal Academy in November 2016, this course includes specialist led lectures which introduce key concepts and guest speakers who provide real-world expertise. Small group workshops and discussion sessions enable hands on practice and application of core ideas. A number of key themes will be explored in detail including (but not limited to):
• The emergence and history of the contemporary art market and how it compares to past periods
• An overview of important characteristics of the contemporary market which helps determine value and impacts prices
• Discussion of how art market players such as galleries, auction houses and art fairs influence the value of art through their activities
• An introduction to emerging markets and opportunities away from traditional art centres
• A formal and practical framework for valuing contemporary art
• A review of key risks and opportunities and how to work with these in the market
• Discussion of different types of valuations used for different reasons and contexts
• Opportunities that exist in lower-price ranges and how to leverage and discover these
Specially designed case studies and small group exercises help participants re-enforce learning. Through real life examples and scenarios, participants will explore how and why values and prices can be highly contentious, challenged and re-visited and in time become the subject of heated debate and disagreement for international experts – and create both risks and exciting opportunities in the art world.
"Very enjoyable, very well organised. Very informative."
The art of valuation and the value of art, course participant, February 2017
About the course
This course is suitable for private collectors and institutions as well as artists and practitioners. Understanding the pricing, value and valuation in the contemporary art world is key to success. Drawing on specialist expertise, this exclusive course will de-mystify the process of art valuation with a focus on the contemporary sector, and include a discussion of emerging markets and consideration of lower priced works.
This course is suitable for all experience levels.
The number of participants is strictly limited to enable positive and constructive peer-group interaction and detailed feedback from the Course Leaders for each participant as well as the work that they develop.
£290 for one day / £540 for full course
Saturday 31 September – Sunday 1 October 2017
10.00am – 5.00pm on both days
(registration from 9.30am on each day)
Includes:
• A carefully designed mix of lectures and applied case studies and discussion sessions
• An exclusive peer-group environment with expert-led information and advice
• A combination of theory and practical skills, transferable to individual interests
• Skills and knowledge designed to be applied in your activities or workplace
• The intimate setting of the Royal Academy’s General Assembly Room and opportunity to work closely with experts and network with peers
The course also includes:
• All practical materials and course pack • Light refreshments and lunch on both days
• A drinks reception in the RA’s private rooms
• A certificate of participation upon completion of the two days
The General Assembly Room was originally a private room in Burlington House, a Palladian mansion set back from Piccadilly and completed in 1668 by its owners, the 1st Earl and Countess of Burlington. After the arrival of the Royal Academy in 1867, the room was transformed into the Chamber for the General Assembly, the Academy’s governing body, and has remained the central meeting room and debating chamber of Academicians who conduct the business of the Academy here up to the present day. It is part of the suite of John Madjeski Fine Rooms, the opulent, gilded and frescoed rooms which contain many of the principle works of the Academy’s art collection and have views onto the famous Annenberg Courtyard and its learned societies.
About the tutors
Anna Lipskaya joined Gurr Johns, the UK’s oldest art valuations company, in 2013 and currently works in the valuation department. Anna manages high-end clients seeking advice on new and updated valuations of their collections and art holdings. She supervises the revaluation process of client’s fine art and valuables contents and assists on specialised art collection management systems for institutions including trusts, estates, private collections and more.
Prior to joining Gurr Johns, Anna was the Senior Analyst at Skate’s Art Market Research, a leading art market information agency, where Anna was responsible for producing global art market reports and publications focused specifically on market performance and investment potential of art and collectible assets. Anna has organised conferences worldwide dedicated to various aspect of the art industry including art investment, art insurance and lending, art and luxury, advisory and media services and e-commerce platforms. Anna is a graduate of Sotheby’s Institute of Art in London and Moscow State University, Economics Faculty.
Dr. Anna M. Dempster is Head of Academic Programmes at the Royal Academy of Arts and College Research Associate at Wolfson College, University Cambridge where she also sits on the Fine Arts Committee. Anna was previously Associate Professor in Art Business at Sotheby's Institute of Art responsible for the Art Business, Finance and Management Unit as well as teaching strategy, entrepreneurship and research methods all specially tailored for the art world. Prior to that she was Director of Research at the Creative Industries Observatory, University of the Arts London and Founding Director of the MSc/MA in Creative Industries at Birkbeck College, University of London.
She has research and teaching experience in leading international institutions including the University of Cambridge, London Business School and Rotterdam School of Management and she regularly consults for practitioners and policy-makers. She holds a BA and MPhil in History from the University of Cambridge, and a PhD in Management Studies from the Judge Business School, Cambridge, UK.
About the guest speakers
George North joined Sotheby’s in 2012. He is a Deputy Director and Valuation Manager, whose role is focussed on short and long term business development opportunities for Sotheby’s through valuations for sale and collection management. For the past five years he has managed the valuations of some of the UK and Europe’s most important collections, including high profile valuations for sale. Recent notable examples of these include the sale of artworks from the Estate of David Bowie in November 2016 totalling £32.9m and the sale of The Schlumberger Collection in November 2014 with sales totalling in excess of $80m. He has also been instrumental in bringing to auction this September The Vivien Leigh Collection. George works closely with the UK Chairman’s Office on historic collections and is frequently involved in valuations led by the Impressionist, Modern and Contemporary Art departments. George graduated from the University of Exeter with a BA in English Literature.
Mila Askarova found Gazelli Art House, London in 2010 as a second space to the Gazelli Art House gallery in Baku, which was found in 2003. Founding contemporary art spaces and creating educational programmes, seminars and exhibitions to bring awareness to Azeri artists abroad, Askaroya has been coined as a “pioneer” by the Financial Times in the article, Pioneers of the Caspian (October 2015). She was born and raised in Azerbaijan before moving to Istanbul and later settling in London. Upon successful completion of her International Relations BSc degree at the London School of Economics and Political Science, she worked at Sotheby's Client Development department while curating a number of exhibitions in Baku and Istanbul. She then managed PR and Communication of a commercial art gallery in London, before focusing on curating and private art dealing. During her active years on the art market, she studied at Central Saint Martins and Christie's Education, gaining a theoretical insight into collecting contemporary art, independent curating and art business.
Our courses and classes programme
Our programme of short courses and classes offers the opportunity to explore a range of subjects, led by expert tutors and practising artists.