Open Care Art Advisory launches to address valuation gaps in Italian art market
At a recent roundtable event in Milan, titled 'Evaluating Artistic Heritage and Archives: Comparative Perspectives', Open Care unveiled its new Art Advisory service. This initiative combines the skills of Vasaris, an established art valuation firm, with Open Care’s Art Consulting team to enhance information within the art market. Marilena Pirrelli facilitated discussions about the need for adherence to ethical standards in art valuation, with reference to RICS guidelines. Notable participants included Laura Feliciotti from Intesa Sanpaolo, who discussed bank collection evaluations, and Daniele Levi Formiggini, emphasizing valuation’s critical role in asset management.
Key facts
- Open Care launched Open Care Art Advisory, merging Vasaris and its Art Consulting department.
- The roundtable was held at Open Care's Sala Carroponte in Milan.
- Marilena Pirrelli moderated the discussion.
- Laura Feliciotti of Intesa Sanpaolo mentioned the bank's fair value update of its art collection.
- Daniele Levi Formiggini, outgoing Chairman of RICS Italy, spoke about valuation as the first step in valorization.
- Roeland Kollewijn stated: 'If you cannot value it, you cannot manage it.'
- The event addressed opacity in art market valuation, especially for private sales.
- RICS standards were cited as a model for professional valuation methodologies.
Entities
Institutions
- Open Care
- Open Care Art Advisory
- Vasaris
- Royal Institution of Chartered Surveyors (RICS)
- Intesa Sanpaolo
- Unicredit
- Artribune
- NABA Nuova Accademia di Belle Arti
Locations
- Milan
- Italy