The benefit goes both ways: Art deals also get made as properties are sold
A house—with art in it—is a home. Or at least it can appear to be, as developers on the luxury market have found.
Top-tier furnishings and interior design have long been used to sell properties, but now developers and brokers often turn to fine art, too, to excite the eyes of buyers with means (and maybe make some deals on the art, too).
In Beverly Hills, a spec home conceived by the fashion designer Charles Park features more than $6 million worth of art by figures as familiar as Andy Warhol and Damien Hirst, as well as artists at different levels of note on the art-market spectrum.
It’s an effort to add to a sense of atmosphere that might fail for otherwise feeling sterile or incomplete, said Aaron Kirman, the listing agent for the California property and president of Aaroe Estates, the luxury property division of John Aaroe Group. Mr. Kirman said he used to turn to art only for properties priced at $30 million-plus but now does so for the majority of his listings, anything for $5 million or more.
“Art adds an extra layer of je ne sais quoi,” he said. “Buyers don’t even realize what it is that makes a house pop, but a good house with good furniture and good art really sets the tone for what feels like fine living. It adds exclusivity and interestingness that makes a house feel more special.”
He emphasized: “Rich people know what it feels like to be rich, and usually that includes fine art.”
Galleries and art advisers organize and provide the artwork, which is also made available for sale to buyers who might like what they see on the walls and choose to chip in more rather than start over with an empty space.
Tim Yarger, who curated the collection in the Charles Park Beverly Hills property as well as others in a similar mode, described the process as discerning and involved. Under the aegis of his gallery, Timothy Yarger Fine Art, he teams with an interior designer, Christina Craemer of ARC54 Design, and conceives a collection with internal logic and a story to tell.
“We distinguish our service from staging,” Mr. Yarger said. “The service we’re providing is curated collections that have a language and substance related to art history and contemporary culture.”
For the Beverly Hills house, besides art from Warhol and Mr. Hirst, there is a series of luminescent sculptures using neon tubes, courtesy of Laddie John Dill, a West Coast pioneer of so-called “light and space” art, and other works owe to artists like Udo Nöger, a beguiling German painter, and Retna, a Los Angeles native who got his start with graffiti.
“We’re trying to do something that is not so obvious, to let people experience something that is outside the canon,” said Mr. Yarger, who welcomes the chance to use properties not just as display spaces but interchanges for business of his own. “There’s a sense of cohesiveness and storytelling. Someone who has more than a decorative kind of vision could walk in and see a well-curated collection of art.”
Courtesy of: Mansion Global and Andy Battaglia