Spotlight on New Artists: Guidance for Citi's Affluent Art Enthusiasts

Exploring art investments? Your financial institution might just be the place to start.

As an art consultant for Citi's elite clientele, Rebekah Bowling aids those with substantial wealth in navigating and expanding their art portfolios. She understands the challenges of interpreting the art market. Apart from Citi, other prominent companies like Bank of America, Morgan Stanley, and UBS also provide art consultancy services for wealthy patrons.

Bowling brings her experience from ten years at Phillips, a renowned international auction house where she managed midseason and daytime sales. Post her tenure there, she relocated to Los Angeles, concentrating on developing client relations. She took on the role at Citi this past July.

Her responsibilities often involve keeping her clients updated on auction events, recommending artists that align with their aesthetic preferences or collection needs, and orchestrating bespoke events.

Bowling advises against acquiring art pieces that do not evoke personal pleasure—such purchases might lead to regret. However, she understands the inclination to seek artists with promising market value.

Focus on Emerging Talent

For those venturing into art collection, Bowling advises beginning with galleries that showcase budding artists. She notes a growing spotlight on artists historically overlooked or underrepresented.

Data from the Art Basel and UBS 2025 Global Art Market report shows a shift. A considerable portion of affluent buyers are now opting for art from previously unknown artists—jumping 8% to 66% in recent years. Despite a 12% global decline in art sales annually, some galleries are defying this trend. Smaller art dealerships reported a 17% surge in annual sales, per the report.

The Rise of Textile Art

Bowling shared with Business Insider that artists merging fine art with handcrafted elements are receiving considerable support from institutions. This surge in interest has resulted in skyrocketing auction prices. She mentioned sculptor Ruth Asawa and textile artist Olga de Amaral as examples gaining notable momentum.

In a striking auction event last September, de Amaral's masterpiece fetched approximately $1.14 million, surpassing initial estimates by almost threefold, as per Christie's records.

Ruth Asawa, while not a hidden gem, recently had her works feature prominently at the Museum of Modern Art in New York City. Conversely, artist Kay Sekimachi, affiliated with Asawa, is carving her niche, albeit more discreetly. Her fiber art is currently on display in a Manhattan gallery. Although specific pricing is absent on the gallery's website, recently a trio of her woven creations realized $3,800 at a Californian auction, surpassing the initial valuation, based on information from a fine art marketplace.

Regardless of financial aspirations, Bowling emphasizes that passion should be the driving force behind art acquisitions.

"Remember, don't invest in pieces you lack affection for," she advises.