The relationship between human beings and art can be referred back to pre-historic times. From engraving shells and carving pictures on walls to making beautiful sculptures and paintings, artists have come a long way in redefining art. Initially, art was only used to enhance the visual appeal of a place. However now, art can do a lot more than simply brightening up space. With an increase in the number of people realising the value of art, it has made its way up from art galleries. Today, art pieces are not only collected by wealthy art collectors, but can also be seen in homes, offices, hotels, malls and other places of public interest. Apart from using art to add a sense of luxury, style and elegance to space, art is also used as one of the most lucrative investment options.
A promising investment opportunity
Founder of Willstone Management, Olyvia Kwok, says ‘What I find is that lots of people are actually into very strong hard assets, such as properties, or see collectibles such as cars, or diamonds and everything else. Art is being financialised to be a proper asset class. I think it’s more solid, more sophisticated to be involved in’. As collectors are frequently buying art pieces to add to their investment portfolio, the art market has gained momentum to become a promising investment option of the future. The major advantages of investing in art include the feeling of personal satisfaction and the monetary gain related to the appreciation value of the artwork over time. Unlike other investment options, such as stock market or cryptocurrency, investing in art allows collectors to view and enjoy the visual appeal of their investments on a daily basis.
Moreover, the value of a piece of good art never fades away. In fact, it appreciates over time and remains unaffected by the financial insecurities or inflation. While the value of an art investment might take time to appreciate, it is unlikely to lose value like its traditional investment counterparts. However, investors must possess tremendous art knowledge to reap its maximum benefits. Similar to any other financial investment, investing in art also requires extensive market research. Before setting foot in the fine art market, investors need to take time to passively observe various art auctions, go through news related to art auctions and constantly check art valuation trends. An art specialist can give new art investors a detailed insight into the fine art industry. With a good eye towards art, art specialists help investors accumulate art pieces which possess the potential to appreciate over time. Apart from helping art investors in buying and managing valuable art possessions, firms like Willstone Management also help clients in getting a maximum return at art auctions.
Who is Olyvia Kwok?
Kwok’s journey in the art market started at the mere age of 22. A Chinese descendant by origin, Kwok arrived in Britain at the age of 12. With a keen eye on art, Kwok grew up admiring Europe’s art and social scene. A maths graduate, Kwok completed her MA specialisation in 15th-century Chinese art. Her journey as an art investor started when she purchased a Chinese scroll painting at an auction. With her deep understanding of art and confidence, Kwok’s risk paid off and she secured a significant return on her initial art investment. Kwok further went on to specialise in the emerging markets of the art world and accumulated 15 years of experience in the art collection. With her distinctive talent and comprehensive knowledge, Kwok successfully formed and built up an art fund for Switzerland’s private bank.
Willstone Management, the brainchild of Olyvia Kwok, was founded with an aim to serve as a comprehensive platform for clients using art as an alternative asset option. With in-depth art market knowledge, extensive global experience and years of expertise, the firm has provided several clients expert perspectives to make confident art investing decisions. With Kwok’s tremendous art knowledge, Willstone Management helps people in navigating through art auctions and closing the best deals.
How art redefines the client’s perceptions?
Kwok believes that as the art industry is constantly changing, fine art has now become more accessible as compared to the previous years. Recently Kwok stated, ‘People are getting more selective and more sophisticated, when [something] is adequate, it doesn’t attract people. When things are super quality or super fresh I think people [are] happy to pay premium’. As various homeowners, offices, luxury hotels and retail spaces are using art in their interior design to enhance the beauty of their space, here are some ways in which art if redefining client’s perceptions:
Today, art is recognised as a vital component of modern living space. From interior designers to influencers, people are not shying away from appreciating unique art pieces. Whether it is created by a contemporary artist or a legendary artist, a sophisticated art piece with high visual appeal is met with excitement and acts as an inspiration for the viewers. While some people can clearly see the beauty of art, others struggle to understand the power art holds. As most people see art as an infusion to uplift the entire mood of a place, clients are considering art pieces as long-term visual and financial assets.
In addition to homeowners, luxurious hotels are incorporating art into their hallways, not only to woo visitors but also to keep it as an additional asset worth investing. As per Kwok ‘Art is unregulated’. She says, ‘That’s the beauty of it, in the art world – the flexibility.’ Today, art is increasingly being used by luxurious hotels as a way to redefine extravagance and stand out from the competition. She believes that people can now visit some of the world’s top hotels to find unique and valuable art pieces. The buzz these art pieces create in hotels and luxurious spaces cannot be ignored. Additionally, space owners can reap the benefits by wisely investing their money and building everlasting memories with their clients.