Two authors, Fabian Ajogwu and Jess Catellote, on Friday presented the book Collecting Art: A Handbook in Lagos. The book, co-authored by the duo, aims to offer the novice and experienced art collector a better understanding and some practical advice on some of the main issues involved in the practice so as to improve the social practice of art collection.
The authors also expressed concern that Nigeria is not playing effectively in the global art space valued at over $40 billion annually. Speaking during the launch, Castellote, a Master’s degree holder in Architecture and Art History, said the book is not just about collecting art or how to collect art but about the practice of collecting art and about helping people become better collectors.
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“We want collectors to collect art in a better way. There are collectors that are organised and those that are chaotic. The approach is to collect art by being knowledgeable. Serious collectors are ethical in their approach to auction houses and other stakeholders. A good collector is prudent, does due diligence before buying a work, has character, is focused, and is knowledgeable,” Castellote said.
“Collectors must be respectful to the right of authors. They should treat artists and auction houses with respect. I hope this book will improve social practice of art collection,” he said. Also speaking, Ajogwu, a senior advocate of Nigeria and professor of Corporate Governance, Lagos Business School, said it took about five years to write the book as they wanted to get the best from the book.
The book, he said, is a product of friendship, shared values, disagreement and a quest to increase the art space in Nigeria, and about understanding contemporary work. Ajogwu said globally, art business has grown to over $40 billion annually but Nigeria has failed to play effectively in the market, adding that there is a whole lot to be done.
“The art industry in Nigeria is open and does not have enough regulations. Can I buy an artwork and decide to do whatever I want to do with it? As a result of issues like these, wealth is lost in the country. Some understand the practice of art but very few understand the business and people who understand the business are the people that succeed,” he said.
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“We need to protect buyers from buying fake works and from buying overpriced works. What do we do about transmitting arts, terms of sales and usage and inherent arts? We want to support a space that is growing. It is not just about passion but the return on investment. The book presents different opportunities to different people and we must be active participants of the space,” he added.
Speaking earlier, Okey Anueyiagu, chairman of the occasion, said it was sad that the culture of reading was gradually disappearing from Nigerian schools. He commended the authors for contributing so much to the educational landscape of the country and encouraged them to keep writing.
Dudu Peterside, an art enthusiast, said the book was timely, adding that it would make people understand the psychology of collecting art.
Among other things, the eight-chapter book discusses issues like motivations and approaches to collecting art; development of an art collection; the process of buying art; the legal framework within which art collecting operates; transfer of an art collection; and documentation and management of art collection to mitigate the risk of damage by environmental, physical, chemical or biological agents.
IFEOMA OKEKE
