standards and qualifications

Professional standards

Art advisors, like several other prominent professional service providers—for example, family office advisors and management consultants—do not require licenses or certifications. Art appraisers do specifically because they need to demonstrate knowledge of federal regulations, like USPAP (Uniform Standards of Professional Appraisal Practice), and to understand state-specific appraisal laws and requirements. Moreover, appraisals often have legal ramifications that can directly impact financial decisions for loans, insurance, taxes, and legal matters.

Most galleries and auction houses—the commercial core of the art market—do not have established or uniform professional criteria or standards, although there is some state-to-state variability. (There are none in California or New York.) As for art advisors, there is one association that “represents” them, the New York-based Association of Professional Art Advisors (APAA). It has around 200 members worldwide. But membership qualifications are rather elastic. For example, APAA advisors must have five years of documented experience, derive their primary income from art advisory services (versus direct dealing), adhere to acceptable ethical guidelines and professional standards, and demonstrate expertise.

Defining qualifications

Client focus: Understanding a client's aesthetic preferences, goals, and constraints, while providing objective, independent advice and educating them as they develop their own eye and understanding of art.

Business acumen: Developing collection strategies that align with and balance both aesthetic and financial goals, as well as an understanding of art as an investment, including tax implications, estate planning considerations, and the ability to structure complex transactions.

Market intelligence: Applying strong analytical skills and an intimate knowledge of the art market's mechanics, including pricing trends, market cycles, and emerging artists, accompanied by an international network and active relationships with galleries, auction houses, dealers, and collectors, providing advisors and clients alike with access to both public and private sale opportunities.

Technical knowledge: Demonstrating knowledge of proper handling, storage, and display requirements for different mediums and periods, including knowledge of framing, lighting, environmental controls, and insurance requirements.

Documentation and research skills: Paying meticulous attention to detail in maintaining records of provenance, condition reports, and transaction histories, as well as skill in conducting thorough research and due diligence on potential acquisitions.

Cultural contributions: Creating intellectual capital via journalism, critical studies, and publications, and organizing public exhibitions.

Academic and professional background: Having a foundation in art history, typically with an advanced degree and specialized study in relevant periods or movements, complemented by substantial practical experience in the art market, whether through gallery work, auction houses, museums, or private collections.

Continuous learning: Staying current with emerging trends, scholarship, and changes in the market, especially by maintaining relationships with scholars and experts.

Personal qualities: Exhibiting integrity and discretion and maintaining confidentiality while managing relationships with multiple collectors who may have competing interests. Expressing strong communication skills, explaining complex concepts to clients and negotiating effectively on their behalf.