Vera Berman

Date of Award

2026

Document Type

Thesis - Restricted Access (SIA Only)

Degree Name

Master of Arts (MA)

Department

Art Business

First Advisor

Noah Kupferman

Second Advisor

Betsy Thomas

Abstract

The study examines the impact of art advisors on art investment decisions, especially among High-Net-Worth Individuals. To achieve this objective, the study mainly focused on examining the advisory process, the selection technique utilized by art advisors, and assessing the long-term impact of these concepts on art investment results. In this regard, the study obtains that art advisors utilize a significant advisory process which begins by building a relationship grounded on trust. This is followed by due diligence that leads to an assessment of preferences and motivation. The study also examined the selection techniques embraced, including provenance, artist reputation, market trends, and culture. Based on this analysis, the study observed that art advisors are highly influential in art investment among HNWIs due to their expertise in navigating the complex and opaque art market. Therefore, following the rise of the art market, the existence of an art advisor should not be neglected but instead acknowledged.

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