ARTnews editors compiled the definitive list of the world’s top 135 art professionals for 2024. For the second year in a row, Megan Fox Kelly Art Advisory is named one of the top 40 art advisors in the world.
Read the full list here.
Journalist Brian Boucher compiled the definitive list of the world’s top 75 art professionals for ARTnews. Within this list, he named Megan Fox Kelly Art Advisory one of the top 10 art advisors in the world.
“Having advised since 1989, New York’s Megan Fox Kelly began her career as a curator, and describes her work as curating collections ranging from vintage photography to postwar and contemporary art. She has served numerous institutions and estates, including the Terra Foundation for American Art and the Robert Rauschenberg Foundation. She’s a frequent go-to expert on the art market for papers like the New York Times and the Wall Street Journal.”
Read the full list here.
Image: Village Green.
Artnet News’ inaugural half-year edition of the Intelligence Report paints a clear picture of today’s art market by the numbers, with a wealth of eye-opening data points. Megan Fox Kelly contributes to the report’s ‘Marketplace: The Best Seller List (Impressionist and Modern)’ category.
In the Impressionist and Modern category, the Artnet News team reports that “Rarity and freshness are the names of the game in this segment of the market, which encompasses work by artists born between 1821 and 1910. The five best-performing paintings had never appeared at auction before.”
In the Imp-Mod category, as in many others, “we are clearly moving into a period of correction following the turbulence in the financial markets,” said art advisor Megan Fox Kelly. “Not a sharp swing, but some price sensitivity and more discretion in buying.”
Read the full Intelligence Report here.
Edward Berthelot/Getty Images. Illustration by Artnet News.
Artnet News Pro included Katya Kazakina’s report on the phenomenon of ‘Gmail Art Advisors’ and her conversation with Megan Fox Kelly in their The Back Room weekly recap.
The Artnet News team shares that “With the bubble for some ultra-hot ultra-contemporary artists deflating before our eyes, Gmail Art Advisors seem to be disappearing left and right. Historically, that’s par for the course when easy commissions dry up and the work of advising gets hard. Unlike, say, the 151 internationally approved members of the Association of Professional Art Advisors (APAA), the Gmailers have no interest in, or aptitude for, the less glamorous, long-term responsibilities of the trade. Think: carefully researching provenance, inspecting condition, dealing with the shipping and customs headaches that often come from buying abroad, and more.”
Founded in 1980, the APAA is the only standard-setting organization for the practice of art advisory. Quoted in Kazakina’s article, Megan Fox Kelly states, “Undisclosed commissions from a gallery are a big no-no for an APAA member, as is holding inventory. The key is to always act in the best interest of a client, and uphold the greatest transparency.”
Read the roundup list here.
A view at Paris+ par Art Basel 2022. Courtesy of Art Basel.
Art market journalist Katya Kazakina reports on the phenomenon of ‘Gmail Art Advisors’ and spoke with Megan Fox Kelly about the role and ethical practice in the art advisory profession.
In her article, ‘Gmail Art Advisors’ Are a Pestilence on the Market. Luckily, They Are Starting to Melt Away, One by One (February 23, 2023) Kazakina investigates the recent influx of highly transactional ‘advisors’, sharing that “There’s a way to ferret out bad actors and find good ones. The Association of Professional Art Advisors, for example, has 151 approved members internationally, up from 111 in 2013, with its ranks including curators as well as consultants.”
Founded in 1980, the APAA is the only standard-setting organization for the practice of art advisory. Quoted in Kazakina’s article, Megan Fox Kelly shares, “Undisclosed commissions from a gallery are a big no-no for an APAA member, as is holding inventory. The key is to always act in the best interest of a client, and uphold the greatest transparency.”
Read the full article by Katya Kazakina here.
Christie's James Bond charity auction raised £6m in October. Courtesy of Christie's.
Journalist Melanie Gerlis shares her art market insights on an an unprecedented year for charity auction sales and spoke with Megan Fox Kelly about recent auctions and opacity in market data.
In her article, ‘'The downside to art world altruism that no one talks about' (November 25, 2022) Gerlis reports on the recent philanthropic bent of the art market, reporting that “For the first half of this year, Christie’s reported that its charitable auctions had raised $440m, and confirms that 2022—taking into account November’s record-breaking $1.5bn auction of Paul G. Allen’s collection, whose proceeds are all earmarked for philanthropy—will be an unprecedented year for such sales.”
Quoted in Gerlis’ article, Megan Fox Kelly shares, “If a collector aligns with a particular charity then they can be willing to go a little beyond […] Buyers ultimately are still chasing the art more than the charitable cause and a philanthropic auction is an effective way to bring in donations from people who otherwise might not have supported their cause.”
Read the full article by Melanie Gerlis here.
Frieze London 2019. Photo by Linda Nylind. Courtesy of Linda Nylind/Frieze.
Journalist Melanie Gerlis reports on the historic value of the dollar, compared to six major currencies this month, and how it is making the next two weeks of art fairs in Europe all the more appealing for American collectors.
In her article, ‘Like Getting a 20 Percent Discount’: For U.S. Collectors at European Art Fairs, the Strong Dollar Means Everything Is on Sale’ (October 10, 2022) Gerlis reports on the effects of the rapid currency shifts, sharing that “for those outside the U.S. […] the economic headwinds are starting to burn—and requiring them to make adjustments.”
Quoted in Gerlis’ article, Megan Fox Kelly notes that, “Beyond the art fairs, collectors in the U.K. and elsewhere in Europe may be feeling the pinch and are going to be looking to sell certain things—maybe not in the coming weeks, in the coming months.”
“Whether that happens at auction or on the private side, clients are on the lookout for consignments coming out of European collections. After all, if the artworks are sold in Europe, Americans will be able, essentially, to get them on sale.”
Read the full article by Melanie Gerlis here.
Illustrator: Flatbush Brown.
Artnet News’ Spring 2022 edition of the Intelligence Report shares the biggest takeaways from the market’s performance last year—and insider tips on how to get ahead in 2022. Megan Fox Kelly contributes to the report’s ‘Marketplace: The Best Seller List (Photography and Impressionist & Modern)’ categories.
In the Photography category, Ansel Adams’ Moonrise, Hernandez, New Mexico (1941) fetched $930,000 at Christie’s, surpassing its healthy $700,000 high estimate. When the picture last sold, in 1996, it achieved $36,650, making the latest price “an extraordinary jump for Ansel Adams,” art advisor Megan Fox Kelly said. Years ago, Adams’ work was primarily the domain of photography specialists. But over time, and with the increased reach provided by online viewing and bidding, he’s begun to attract crossover interest. It doesn’t hurt, Fox Kelly noted, that this image is “particularly beautiful.”
In the Impressionist and Modern category, the Artnet News team reports that “Two top-flight collections made the often sleepy Imp-Mod category—defined as work made by artists born between 1821 and 1910—perhaps the hottest of the year […] all told, eight Imp-Mod paintings fetched more than $50 million each.”
The Getty Museum purchased Gustave Caillebotte’s Jeune homme à sa fenêtre (1876), the final lot of the Cox sale, and swiftly put it on public view. Expected to bring above $50 million, the rare and imposing painting of the artist’s brother sold for a premium-inclusive $53 million, shattering the artist’s $22 million record. Some experts said the canvas had notable condition problems, particularly in the black at the center. “There has never been anything like it on the auction market, making it not only a rare opportunity to get such a signature Impressionist painting but also making it one of those difficult-to-estimate lots,” said Megan Fox Kelly.
“People were concerned about how deep the highest end of the market was,” said Megan Fox Kelly. The results proved that demand was there.
Read the full Intelligence Report here.
Tulips by Jeff Koons at the Broad Museum. Photo by Santi Visalli / Getty Images.
Journalist Ron Marans reports on how collectors can nurture great artistic talent, beyond just purchasing their work.
Quoted in Marans’ article, ‘How to Become an Artist’s Patron’ (March 2, 2020), Megan Fox Kelly shares that, “When collectors want to get involved with the young artists or emerging artists it’s because they have a real interest in and love for the work that they’re making.”
Read the full article by Ron Marans here.
Michael Bowles/Getty Images for Gagosian Gallery.
Journalist Daniel Grant reports on Larry Gagosian's newly announced advisory arm of his high-profile gallery.
In his article, ‘As Gagosian Gets Into Art Advisory, Should Collectors Be Cautious of Taking Tips From Gallerists?’ (April 19, 2019), Grant shares that “There may be no moral to the story, but there is certainly a trend: Whereas, in the past, players in the art trade had distinct roles, increasingly individuals and companies are trying to be more full-service.”
Quoted in Grants’ article, Megan Fox Kelly notes that, “Sometimes, I find myself talking with a client’s financial advisor about how much of their assets should be invested in art. I’m asked to do things now that I never did just a few years ago.”
Megan is a long-standing member of the Association of Professional Art Advisors (APAA), which requires that its members “may not maintain inventory for sale, accept artwork on consignment or act as private dealers in any transaction.” That requirement protects advisory clients, according to Megan Fox Kelly. Because gallery owners “represent inventory they own or that is on consignment to them,” she explains, “their first responsibility is to their inventory and to their consignors.”
Read the full article by Daniel Grant here.
Artelligence Podcast.
Megan Fox Kelly spoke on an international program to celebrate Dickinson Gallery’s 25th Anniversary, held at their New York space during the Spring edition of TEFAF New York.
Alongside Todd Levin and William O’Reilly, the conversation explores the relationship between advisors, collectors and the art market ecosystem, as well as the joys and pitfalls of building an art collection.
Listen to the full conversation here.
Detail of Dan Flavin, Untitled (Marfa project), 1996. © 2011 Stephen Flavin / Artists Rights Society (ARS), New York. Photo by Douglas Tuck, 2009. Courtesy of the Chinati Foundation.
Journalist Anna Louie Sussman reports on how artist estates are grappling with the question of whether and how to produce posthumous work
Quoted in Louie Sussman’s article, ‘How Dead Artists Continue Producing Work’ (June 7, 2018), Megan Fox Kelly shares that,“Protecting the artist’s market is an essential part of protecting the artist’s legacy. Whatever the artist’s intention, an artist’s legacy and her or his posthumous market can no longer be separated.”
Read the full article by Anna Louie Sussman here.
Image courtesy of Megan Fox Kelly.
Journalist Nate Freeman reports on Megan Fox Kelly’s recent election to become president of the Association of Professional Art Advisors (APAA).
Quoted in Freemans’s article, ‘Megan Fox Kelly Elected President of Association of Professional Art Advisors ’ (May 5, 2017), Megan Fox Kelly shares that, “We are not private dealers or auction house personnel and do not maintain inventories of art for sale. APAA members are independent advisors and advocates on behalf of their clients. We continue to grow our membership and look forward to welcoming art advisors and private collection curators who share our level of connoisseurship, scholarship, expertise in the art market, and ethical business practices.”
Founded in 1980, the APAA acts as a watchdog that sets the ethical standard for art advisors. Megan will replace Joe Houston, the curator of Kansas City’s Hallmark Art Collection, who served a two-year term. “Joe has raised APAA’s profile as a resource for collectors, and the general public through online platforms and our newly designed APAA News,” Fox Kelly said in a press release. “Thanks to his work, we continue to educate the public, media, and broader art community as advocates for standards of professional practice for qualified art advisors.”
Read the full article by Nate Freeman here.