I specialise in the emotional value or art and an intuitive connoisseurship. I have graduated from Sotheby's Institute of Art in London with the Master's degree in Art Business in 2017 and an LL.M in International Law from the University of Edinburgh in 2002. Since then I have been actively helping galleries, artists, authors and collectors in their endeavours to pursue their goals in art world.
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With the rise of global art finance and art investment the issue of objectification and transparency of art valuation is on the rise. A fifth of high - net-worth individual's wealth is channeled into art constituting a $1 billion worth of an investment market. As a purely financial instrument, art however does not yield high returns to investors. It derives most of its value from its other non-pecuniary qualities.
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CREDENTIALS
Co-founder
at MAGENTA ART BOOKS
at MAGENTA ART BOOKS
Responsible for the business development, international cooperation and foreign rights, I have incorporated and lead the company to the unique positions on the Ukrainian book and art markets in just one year. I also promote knowledge on how art market works through public educational events.
Master of Arts in Art Business (hon., Director's Commendations). Sotheby's Institute of Art, London
Author of the dissertation "The Emotional Value of Art: Questions of Identification and Measurement". The work addresses the question of how to identify and measure the emotional value of art in the art business context by using the methods found in modern neuroscience.
15 years of professional legal practice in multiple jurisdictions
Managed legal department of the major international hotel. Advised blue-chip businesses in Ukraine and Russia. Advised major foreign investors and investment funds on acquisitions and partnerships in Ukraine, Russia and CIS. Conducted more than 50 due-diligences in real estate, intellectual property and oil and gas sectors.,
Essays
Over the last 10 years, I've written many article on various legal topics and over the past 2 year I have written several essays on the art business topics
Certain Issues in Relation to Ethics, Law and Trade in Objects of Cultural Heritage
Trade in objects of cultural heritage is a highly sensitive issue both in public and private domain. It is not very well legally regulated with a lot of room for ethical discussion. Some currently prevalent standards although being recorded in international and national laws are not often legally enforceable. However, there is a general international view that whether it is a private or public transaction involving the objects of cultural heritage there is a legal and moral obligation on those involved to be transparent about their intentions and act for the benefit of wider public interest.
The Emotional Value of Art: Questions of Identification and Measurement
The emotional value of art is known to be elusive and ephemeral but at the same time the most essential. The rapid growth of the art market demands objectification and explanation of this ephemeral component. Modern technology arguably allows for the recognition and measurement of human emotions. Take a look at the emojis on social media. It is also assumed that emotion-recognition technologies, together with neuroscience, may help to understand the emotional value of art.
As art business is facing the challenge of experiential economy , the study of the emotional value of art is very topical.
As art business is facing the challenge of experiential economy , the study of the emotional value of art is very topical.
Art Secured Landing Due Diligence Report "Cy Twombly, Untitled (New York City), 1968
An Art Market Analysis for a potential lender
The Art/Architectural Biennial is Purely Cultural Phenomenon. Discussion with Reference to Liverpool and Venice.
The biennial is a large cultural event that clearly benefits the art market, regional infrastructure and politics. It however is often underfunded and therefore dependent from the commercial infrastructure projects that questions its purely cultural status. There are biennales organised without the tourists in the remote locations of the world. They raise the awareness about the art in the locations without making much of the infrastructural difference. Such projects could indeed be called purely cultural.
Biography
I was born in 1979 in Ivano-Frankivsk, Ukraine but grew up in Lviv. I was always interested in art. Unfortunately my parents did not encourage my interest. I have graduated from the Lviv National University with the law degree with honours. During my studies I have found and edited an independent student's newspaper, participated in numerous conferences in Ukraine and abroad, wrote winning essays and received various awards. Upon my graduation from the University of Lviv, I have received a British Council Scholarship and graduated with an LL.M degree from the University of Edinburgh in 2002. In 2002 I also started working as a commercial and corporate lawyer with an international law firm in Ukraine. One year later I moved to Moscow to work with a top British law firm as an associate. In Moscow I advised blue - chip clients and investors. In 2008 I returned to Ukraine and became the head of legal department of the international hotel in Kyiv. In 2015 I have decided to pursue my dream to study art and was admitted to Sotheby's Institute of Art in London.I have graduate with the Masters degree in Art Business with honours and Director's Commendations in 2017. This degree combines my experience in business, law and art. In 2017 my colleague and I launched an independent publishing house Magenta Art Books that focuses on professional and beautiful books for the art world. I also speak at the educational events, advise and lecture on art business.
olena.grubb@magentaartbooks.com
Photo credits: josef.stuefer, Ansel Edwards
All photo and video materials belong to their owners and are used for demonstration purposes only. Please do not use them in commercial projects.
All photo and video materials belong to their owners and are used for demonstration purposes only. Please do not use them in commercial projects.
