Listen to everyone, but do what your head and heart urge you to

Even with advise from a wisely selected council, you will encounter situations where you find yourself fielding four to five differing views, here only your instinct and knowledge will come in handy.

Consigliere. No, this isn’t a rerun of the previous week’s column. (Even though I’m using the exact same word to kick-start this week). I received a number of texts and mails following last week’s column, in particular referring to this term, and how it would be ideal to find someone like Tom Hagen as an aide to facilitate their respective art collection endeavours. I’m expectedly in absolute agreement and, in response to that, I’d say why just Hagen, it’s perhaps prudent to up the ante a few notches.

I’d like to introduce a further dimension for your consideration. Moving from the singular to the collective. A collective of learned ones. To go from the singular consigliere to a collective advisory council. The creation of this council is a fairly natural extension that materialises almost organically as you spend more time towards the pursuit of this passion, or track it as an investment. I would, however, urge you, especially those still in the early stages of collecting, to aim to do so in a calculated and precise manner. To identify prime figures within the domain who are subject matter experts and would contribute in a tangible and valuable form to your collection. The most advantageous benefit of having the council on your side is receiving a well-rounded and throughly balanced perspective on a matter at hand, based on which making an informed choice becomes infinitely simpler.

How many should preside within this council? I’d go with no more than seven individuals. That is the perfect balance that tends to cover the spectrum, encompassing the commercial and critical frontiers.

The next question to consider is who should preside within your privy council? My ideal lineup would comprise a gallerist, a seasoned art writer, two senior collectors, a leading auction house representative, and a secondary market dealer. I would have also added a respected museum director/curator to this august gathering, but this role, within India, is still a rarity. It would be plain obvious to recommend an art advisor, but this council must be entirely honorary in their function. No commercial alignment should be evident from those offering you counsel herein.

You might say that it is but obvious that an auctioneer or a gallerist would eventually present their offerings for your consideration. That is perfectly fine, and the precise reason why there are other members on the council to allow you to weigh in on the merits and downsides before taking a decision.

How can I put this council together, you ask? It’s simpler than you’d think. Simply approaching the individuals you have in mind and sharing your request for guidance, that of spending one hour a month with them to begin with, as per their schedule, could easily help realise your request. I’d also like to submit that it isn’t necessary for the council to know they are all part of your advisory team. (Though it would be great if you can build an equation that allows for evenings at home with all, or some of them, over discussing art, culture, and whatsoever else.)

You’d imagine that having this council available will make matters simple. Not quite always. Even with the wise ones by your side, you will certainly encounter situations where you find yourself fielding four to five differing views (as against the perennially pleasant unanimous vote of confidence, or the runner-up: two opinions, one of which is closely placed alongside your own inclination). In such circumstances, you might find yourself even more confused than you were to begin with. It is, in fact, such scenarios that sharpen your own faculties of readership and judgement, pushing you to exercise a high degree of creative and financial judiciousness.

You would, needless to say, have to also follow all the expected basics that apply to engaging with an industry. Stay constantly connected to the market. Follow what the journals, blogs, trade magazines and publications share. Follow all sales, particularly that of artists of personal interest with diligence, with a tab on exhibition schedules and market movement. Follow all key brands and personalities within this domain on social media—Twitter, Facebook, and Instagram. This knowledge network is key to successful collectorship.

Beyond it all, your council that will offer sagacious advise, will give you an unparalleled birds-eye view of the question at hand and the market at large.

Ultimately, however, as I’ve been happily harping for a while (and following upon a famous adage), listen to everyone, but do as the balanced voice of your heart/mind urges you to—with constant gratitude for the presence of your own personal ‘Magnificent Seven’. (Another inescapable cinematic reference).

(Arvind Vijaymohan is the CEO of Artery India, a financial data centre focused on Indian art sales globally)

@ArvindVJmohan