Tatler columnist Peter Cheung demystifies the world of art auctions for newcomers and shows you don't need to be an art expert or a tycoon to start an art collection
Peter Cheung thought his friend Mara Hotung, then jewellery expert at international auction house Sotheby’s, had asked him to lunch with her boss, Carlton Rochell, purely on a social basis. Little did he know he was in the running for what some people would consider a dream job. Having impressed Rochell, Cheung flew to the Sotheby’s headquarters in New York the following week to meet CEO Diana “Dede” Brooks.
“I was scared to death as I had no prior auction experience and didn’t know anything about the industry. I relied on my knowledge of jewellery and watches to bluff my way though,” Cheung says. Nevertheless, Brooks hired him, and from 1999 to 2001 Cheung served as the deputy director of public relations and special events for China and Southeast Asia at Sotheby’s. These days Cheung, a PR and communications expert who specialises in the luxury industry, still collects art and now imparts his auction world wisdom on Tatler readers.
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“During a recent Zoom, a friend asked me for some advice on how to collect art after she noticed a gallery wall of art behind me,” Cheung says. “I had never considered myself a serious art collector and in hindsight, I guess my training was from my days at Sotheby’s. Hence I must recommend all beginners to attend auctions and exhibitions as a wonderful way to get started.”
Here are Cheung's six tips for art auction newcomers.
Meet the experts
I bought my first two pieces of art at auction in 1999 during my tenure at Sotheby’s. I had my eye on them but was reluctant to put in bids for them, as I knew nothing about Southeast Asian contemporary art. It was only when I spoke to the expert that I realised that these contemporary Indonesian pieces really spoke to me. In the end, I didn’t have to bid, as both pieces did not sell at auction. I made an offer to the consignor post-sale and ended up getting them for very attractive prices.
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Go to exhibitions
For the beginner, going to an auction exhibition is a great way to get your feet wet in art collecting. It is free, offers exposure to different categories, and again, is a great way to learn from experts. Appreciation of calligraphy, porcelain or even antique furniture might not be initially on your mind but a viewing and learning from an exhibition might surprise you.
