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Making Markets
Episode 9 Valuing Fine Art and NFTs
Making Markets

Episode 9: Valuing Fine Art and NFTs

Making Markets

Episode 9

Valuing Fine Art and NFTs

Hosted by Eric Golden

12.29.2023

  • Art Market

Caroline Taylor is the founder of Appraisal Bureau. We cover the unique aspects of the art market, appraisal process for traditional art and NFT's, and Caroline's goal to bring transparency into the art market.

(00:02:00) - (First question) - Why Deutsche Bank has an art collection

(00:02:54) - Caroline’s background in art 

(00:03:57) - A basic overview of the curation of art for a corporate collection

(00:04:32) - The balance between investing in value or genuine interest in the pieces

(00:06:00) - Caroline’s moves after the corporate art curation for Deutsche bank

(00:08:15) - How advisory fees are structured in the buying process

(00:10:47) - Appraiser ratings and determining their proficiency in valuing unique items

(00:14:26) - Other valuation methods beyond insurance

(00:17:32) - The complexities of irrevocable bids at an auction

(00:19:10) - Profits from using low irrevocable bids and the long-term valuation of acquiring art through auctions

(00:20:13) - Other unconventional bidding methods beyond room-based and irrevocable bids 

(00:21:15) - A background of Dmitri Cherniak's 'The Goose' NFT, which sold at Sotheby's Auction for $6.2M

(00:23:36) - The breakd sold at Sotheby's Auction for $6.2Mown of the audience at Sotheby’s auction for The Goose

(00:25:10) - Caroline’s journey to becoming the sole approved appraiser of NFTs in the insurance market

(00:28:36) - The nuanced valuation of CryptoPunks from an art appraisal perspective

(00:30:57) - How she initiated Appraisal Bureau to address the lack of neutrality in the market

(00:35:18) - Caroline’s validation process, especially when significant discrepancies arise

(00:35:37) - Navigating customer segmentation within Caroline’s clientele

(00:37:37) - The potential impact of artificial intelligence

(00:40:44) - How Appraisal Bureau conducts thousands of appraisals yearly without being able to disclose what they’re working on and who they’re working with 

(00:41:32) - NFTs impact on bringing new people into the art world, Eric attending Art Basel

(00:42:12) - NFTs permeating the traditional art world with positioning in places like MoMA

(00:43:10) - Caroline’s opinion on the NFT market transitioning from a tough phase into a hopeful outlook

 

12.29.2023

Hosted by Eric Golden

  • Art Market
Valuing Fine Art and NFTs
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Introduction

Eric
My guest this week is Caroline Taylor, an art evaluation expert. Caroline founded the Appraisal Bureau to bring data and analytics to the highly subjective world of art appraisals. We start the conversation with Caroline's backstory before talking about the appraisal process for both traditional fine art and NFTs.

She explains the problem that Appraisal Bureau is solving in this space. We also cover several unique aspects of the art market such as block trading, irrevocable bids and the place of NFTs in the art world. Please enjoy this conversation with Caroline Taylor.

So Caroline, the fact that Deutsche Bank -- and when I say Deutsche Bank, I'm thinking of the Wall Street investment banking house that's usually in the headlines for a credit risk or something, but Deutsche Bank has an art collection is surprising to me. Tell me about how or why Deutsche Bank has an art collection.

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