The powerhouse art advisor who set a new benchmark in the sale of contemporary Asian art at Sotheby’s outlines shifting trends in the art world and finding value in historical narratives.
“Asian collectors don’t play by the book,” says art adviser Yuki Terase. “They’re very eclectic.” Many of the younger generation, she adds, have lived in both the East and the West, just like she has, and so are shaped by their multicultural backgrounds. Born in Japan and raised in the UK, Terase worked for Morgan Stanley in Tokyo, then spent a decade at Sotheby’s. It was there that she pioneered celebrity auctions for fashion designer Nigo and K-pop star TOP, and went on to oversee record sales for Yoshitomo Nara and Yayoi Kusama in Hong Kong as the auction house’s head of Asian contemporary art.
Today she leads Art Intelligence Global (AIG), an art advisory firm that she co-founded with fellow Sotheby’s alumna Amy Cappellazzo. Based between New York and Hong Kong, they help clients to build their collections and navigate market shifts.
“The coronavirus pandemic was a time of speculation – collectors invested heavily in emerging artists,” says Terase. “Now they’re going the other way. They want artists with life experiences that they can connect with.” Value, she says, comes from narrative, history and provenance. Terase points to a resurgence in interest in ancient work, classical antiques and even dinosaur fossils. “People increasingly want artefacts that we can’t produce any more,” she says. “It’s an answer to AI.”
This focus on historical pieces, combined with rising demand from Asia, means that the supply for collectors is limited. But that’s what makes things so fascinating for Terase. “Even with all of the money in the world, you’re not guaranteed to be able to build the greatest collection,” she says. “It’s democratic and a lot of work. There are no short cuts.”
Yuki Terase on building a great collection:
1.
Identify what you like
“It’s like when you want to become a musician. You can have the best tutors in the world but you still need to practice. Go to museums, galleries and fairs, and see as much as you can.”
2.
See the world
“Plan trips with the aim of discovering new cultures. I love the Art Collaboration Kyoto (ACK) fair. And who doesn’t love going to Kyoto in the autumn?”
3.
Invest in the past
“Interest in antiques, old masters and things such as dinosaur fossils will only continue to grow, especially among younger generations of collectors.”
