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Sotheby’s Institute of Art launches a Valuation and Appraisal Executive Program in Korea

Sotheby’s Institute of Art in collaboration with Korea Arts Management Services has developed a bespoke executive education program for arts professionals in Korea.

This executive program provided premier access to the latest developments in art appraisal, art valuation, art forensics, and art insurance, focusing on trends in new media and online art technology. The program was taught by our esteemed faculty of scholars, art market professionals, and industry leaders, who brought years of experience and expertise to the subject. Held over two four-day weekends, these intensive courses provided Korean cultural professionals, business leaders, and art market practitioners unique, specialized knowledge about today’s global art market.

We were delighted to host the inaugural collaboration of Sotheby’s Institute of Art and KAMS this August in Seoul. This program was led by Professor Ann-Marie Richard, an authority and leading expert on art valuation and Director of the Fine and Decorative Art and Design MA program at Sotheby’s Institute of Art-New York. She was formerly Executive Vice President at Gurr-Johns, and a published author. She has also been commissioned to write the definitive book on art valuation.

Along with Professor Richard, industry experts from art authentication company Art Analysis & Research, a preeminent online art technology company Artsy, and the world’s largest publicly-traded property and casualty insurance company Chubb, served as faculty members to share insights of the various applications of valuation in practice. This combination of expertise and thought leadership guided participants as they expanded and deepened their understanding of valuation principles, and developed creative and unique approaches to complex issues in valuation.

The goal of this program was to familiarize participants with the complicated facets of the art market, which is intrinsically tied to the pillars of valuation and authenticity. The format of the program included: lectures followed by in-depth discussion, a trial valuation, a hands-on objects session, and in-class writing exercises. Participants practiced valuation with works from various media and genres, including conceptual art, new media art, and art from emerging artists. The program also addressed issues in authentication and provenance research. At the conclusion of this program, participants were conversant in the applications of a value system widely applicable to works of art and the markets within which those works circulate.

On Saturday, August 24, a roundtable discussion held at Ewha University entitled “Recent/Emerging Challenges in the Valuation of Contemporary Art,” served as a culmination of the program. A range of local and international experts including academics, art lawyers, private collectors, museum professionals and conservationists gathered to discuss the future of collecting, and pertinent challenges that arise in the valuation of contemporary art. Students and current art professionals were welcomed to join this conversation, which was open to the public.

Click here to learn more.

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