April 21, 2024 The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

Art Experts Flock To Century City To Tell You How, When To Buy

Attendees will get a chance to hear from an art scholar, a critic, an auction house, a dealer, and a gallerist (Thinkstock: Photo by Peter Macdiarmid/Getty Images).
Find out how to keep a cool head in a hot art market this Thursday in Century City (Thinkstock: Photo by Peter Macdiarmid/Getty Images).

What happens when you get an art scholar, a critic, an auction house, a dealer, and a gallerist in the same room? You learn how to keep a cool head in a hot art market, according to Century City Chamber of Commerce Art Council head, Jean Tardy-Vallernaud.

If you’re curious about the volatile art market or crave advice on what to do when purchasing or selling a work of art, look no further than the lunch and panel discussion at the InterContinental Hotel this Thursday from 11:30 am to 1:30 pm.

“Keep A Cool Head In A Hot Art Market” will showcase five powerhouse experts in the art world. There’s Andrea Fiuczynski, chair of Sotheby’s West Coast, global auction executive and auctioneer; Suzanne Muchnic, L.A. Times art writer, critic, and author of “LACMA For Now;” Jonathan Novak, founder of Century City’s only art gallery, Jonathan Novak Contemporary Art; Scott Schaefer, art scholar and former curator of the Getty Museum, LACMA, Sotheby’s, and the Museum of Fine Arts, Boston; with moderator Molly Barnes, a bi-coastal art dealer, radio talk show host, and author.

This way, you get all viewpoints from the difference facets of the art world, Tardy-Vallernaud said.

“The art market is something absolutely unique not only because it’s visual, it has personality, but it is getting an enormous amount of publicity relative to its size,” he said of the most unregulated market in the world.

As the founding chair of the Arts Council, created in 2009, and president of the Century City Arts and Culture Foundation, set up in 2014, Tardy-Vallernaud, who is an investment advisor by trade, contends that his mission is to educate. The growing council of 12 is also involved in planning and maintaining the annual outdoor sculpture exhibits.

Their latest coup was securing a contemporary print to raffle off at the panel discussion Thursday, courtesy of Barnes.

Comparing the best possible estimate of annual sales worldwide in the art market – just under $70 billion – to that same amount used up in less than two days trading on the New York Stock Exchange, Tardy-Vallernaud has often wondered why one gets more attention than the other.

“If a Modigliani or a Picasso or a Monet sells for $175 million, you can be sure you will have the picture on the front page and also essays and talks and etc. And so as it has always been that way,” he said.

“50 years ago it was more of a reserved market for a select few of wealthy, knowledgeable people. It was a very closed market, [filled with] those rather mythical auctions where someone on the phone would flick their finger and all of a sudden it went up to $8 million.”

What has happened to the market is two factors, Tardy-Vallernaud said. One, of course, is more money. New money poured in from China, and earlier it came from Russia and earlier, though no longer the case, from Brazil.

Why were they buying art?

“Some truly appreciate art from a hedonistic sense. Some increasingly like it as an asset, an investment, but that’s overdone,” he said. “The market has cycles, but the fact is supply-and-demand doesn’t lie.”

There are also the psychological factors that come into play, like bragging rights or using art as signifiers of class and wealth.

“All these factors contribute to more money, more growth, and more people interested,” he said.

The second factor in the growing interest in art is a split-market, divided between contemporary and anything before that.

“This is the dangerous one, and the dynamics of the market are significantly different between contemporary and the rest (modern and back into history),” he said.

So, how do you not fall victim to the unpredictable space where art meets commerce? Come to the panel to find out, but in case you can’t make it, the general rule of thumb is: you will not make money in the art market.

“Your yield is your enjoyment,” Tardy-Vallernaud said.

The lunch and panel discussion will meet at the InterContinetal Hotel’s Grand Salon Ballroom at 2151 Avenue of the Stars in Century City.

To RSVP visit centurycitycc.com or call 310.553.2222.

Related Posts

Make Science Your Destination This Summer

April 19, 2024

April 19, 2024

Destination Science is the fun science day camp for curious kids with over 15 STEM activities weekly, three science stations...

Prime Time Sports Camps Coming Soon

April 19, 2024

April 19, 2024

Prime Time Sports Camp has remained a constant in the everchanging camp landscape for over 30 years by following this...

Groundlings Summer Improv Classes Open April 2

April 19, 2024

April 19, 2024

A summer of improvisation is around the corner at The Groundlings.  Three months of summer class offerings for teens will...

Coming to Venice for 4/20? Visit your original cannabis locals! Specials! Live entertainment @4:20pm  Doors open at 10am!!

April 19, 2024

April 19, 2024

Coming to Venice for 4/20? Visit your original cannabis locals! Specials! Live entertainment @4:20pm Doors open at 10am!! Free goodies!!...

Venice Kush Hosts “The Real Deal” Cannabis Celebration at the Beach

April 19, 2024

April 19, 2024

A Day of Education, Innovation, and Community at Venice Beach Venice Kush is gearing up to host its much-anticipated “The...

Get Jokerfied with The People’s Joker Director Vera Drew Interview; Now Playing at the Nuart Theatre

April 19, 2024

April 19, 2024

Vera Drew on Crafting a Trans Supervillain and Creating Comedy Chaos By Dolores Quintana The People’s Joker is an explosive...

Nicolas Cage Stars in Arcadian: A Bewitching Apocalypse

April 18, 2024

April 18, 2024

New Horror Film Delivers Solid Monster Movie Experience Arcadian is a new horror film starring Nicolas Cage (Dream Scenario, Mandy),...

Westside Woman Pleads Guilty to $2M COVID-19 Loan Fraud, IRS Scam

April 18, 2024

April 18, 2024

Suspect Admits to Wire Fraud, False Claims in Elaborate Scheme Casie Hynes, a resident of the Mid-City area, entered a...

Body Found Abandoned in Stolen U-Haul Truck in Los Angeles Mid-City

April 18, 2024

April 18, 2024

LAPD Investigates Disturbing Discovery After Worker Reports Foul Odor Authorities are probing a disturbing incident after a body was discovered...

(Video) Award-Winning Pianist to Premiere “Rocket Man: A Live Orchestral Experience” in Santa Monica

April 18, 2024

April 18, 2024

Classic Songs Will Include “Crocodile Rock” and “Goodbye Yellow Brick Road” @culvercitywlanews “Rocket Man” is coming soon to Santa Monica...

Tito’s Tacos to Introduce New Chicken Burrito for Cinco De Mayo

April 17, 2024

April 17, 2024

Beloved Westside Eatery Unveils Fresh Addition to Timeless Menu Tito’s Tacos, a cherished Los Angeles establishment renowned for its timeless...

Michael’s Santa Monica Celebrates 45 Years with Culinary Extravaganza With Famous Chefs

April 17, 2024

April 17, 2024

Iconic Restaurant Hosts “Great Party!!” Benefitting No Kid Hungry Campaign  Michael’s Santa Monica is set to commemorate its 45th anniversary...

Los Angeles Times Presents Star-Studded Lineup for 29th Festival of Books This Weekend

April 17, 2024

April 17, 2024

Over 550 Writers and Celebrities to Grace USC Campus for Weekend Extravaganza The Los Angeles Times has a stellar lineup...

Girls Learn Self Defense at Empowerment Summer Camp for Girls

April 17, 2024

April 17, 2024

This summer, girls are invited to explore practical self defense training at SHIELD Women’s Self Defense’s 2024 Empowerment Summer Camp...

Brentwood Art Center: Kids Explore Fundamentals of Drawing, Painting and Mixed Media

April 17, 2024

April 17, 2024

The beloved Brentwood Art Center is hosting summer camps at its new location at Olympic and 17th in Santa Monica. ...