Sometimes, no matter how smart, connected, and well-resourced you are, you just need an expert—and not just any expert, but a rare insider that other experts call when they need help. Fortunately Rob Report Our own highly curated directory of heavy hitters in the categories: Masters of Luxury.
This month, it’s Ralph DeLuca, the tough-talking art advisor to everyone from Leonardo DiCaprio to Steven Spielberg to Martin Scorsese. New Jersey-born DeLuca stands out from many of his competitors for his openness about commercial pressures in this secretive, tightly guarded world. He also has a true passion for the things he asks customers to buy (and buys himself).
Have a problem you want solved? Email askrobb@robbreport.com
expert
Name: Ralph DeLuca
Profession: Art consultant and adviser
Headquarters: Las Vegas, Nev.
Feature: Breaking down red tape and pretense in the art world
Big question
I’ve been collecting for a few years, but I think I’m ready to work with a mentor to really turbocharge my gallery connections and access. What do I need to know?
First, don’t mistake the counselor’s role as some kind of wheel greaser. “Ninety percent of the time,” DeLuca says, “my job is not to say, “I’m a bad cop for hire.” It’s an arbitrage, not a proof of your expertise. A lot of that crap is cut out when you’re under one roof.
Be sure to ask about the fee structure—whether commission or retainer—and inquire about their collections. “Does an advisor put their money where they’re telling you to put yours? I know a lot of people who try to spend their money on living and buying art like their clients,” he adds. Take another approach: If they arrive in Bentley but don’t collect, move on.
And even if you’re outsourcing some work to an expert, don’t give up. He suggests thinking of the demand for contemporary art like a child and thinking of a gallery like an adoption agency screening new parents. “Will you be responsible? Will you be a mentor? Show up at the opening and ask questions even if you’re not interested in buying,” he says. “It’s a level of commitment — like going to an orphanage to visit children at Christmas and bring them toys.”
Speed round
How do you determine if a storage facility is truly top-notch? Get reports on building quality—certifications of humidity, temperature, and air quality controls—and ask art conservators if it’s a safe place to keep art.
What should you do before you slip on a piece of the secondary market? Check it out out of the frame. Frames hide flaws, especially in older works, or on paper or photography. I found fire damage, signatures, or edition numbers cut off.
The smartest shortcut you rely on? Download See Saw, an app where you can view every gallery show in a list. They have New York, Los Angeles, Berlin, London, Paris and Miami.
What is the most overlooked thing about contemporary art? Living artists can put on bad shows or get misrepresented on social media — they can outright Kanye themselves — or a dealer can ruin their career. All this can affect their market.
What is the difference between contemporary and other areas of the art and collectibles market? I started with collectibles, and I’m very interested in Hollywood memorabilia. Some things like coins, comic books, sports cards — a third party like PSA rates them, so it’s pretty easy. In art, tastes may change, but Action Comics #1 will always be Superman’s first appearance.
How do you hack the secondary market? The total price includes a 27 percent buyer’s premium that is not paid by anyone other than the auction house. So if the art is selling at auction, ask if they have anything in private sale—this works out if the consignor chose not to auction to avoid saturating the market. If a gallery sells a new work by a living artist, the split is usually 50/50.
Either | or
At high-profile sales, a piece’s provenance and pedigree increase its cash market value.
If you’re stuck in the middle, not the quality? Long term, it will burn you in the ass.
At a show, people cover it and see it in an environment that blends in with the rest of the artist’s work.
Social enrichment, the pride component? Both fill up very quickly.
You should have your own collection. You shouldn’t have it in your collection.
Everything has a price—just don’t buy things with a trade-off mentality.
Ninety percent of great things at art fairs are booked a month or more in advance.
