Ultra Spotlight: PREMIER ART

Introducing Ultra Spotlight! This segment will feature individuals, companies and products of interest to the African American affluent community. Our first spotlight inductee is Onaje Henderson with Premier Art LLC. We hope you will enjoy this feature and walk away with additional and valuable insight about its subject matter.

1. Please tell us about yourself and your company?
My name is Onaje M. Henderson. I am Managing Partner of Premier Art LLC. Premier Art, LLC manages and represents a roster of acclaimed African American visual artists. A partnership comprising of myself and my brother, Omari Henderson, the company markets its artists’ works through innovative consumer enrichment programs and events, as well as by providing corporate, individual and municipal client consulting.

Our approach is grounded in understanding each client’s priorities, desires, parameters, and budget. With this technique, we are able to effectively consult with both new and seasoned collectors.

2. I am a great fan of your Art-tasting concept. Tell us about it and explain how you came up with that idea.
An ‘Art Tasting’ is an event designed to educate art enthusiasts and collectors on valuing art in an intimate setting with friends and family. The purpose is to have guests connect with an artist (or group of artists) and have an informal, non-intimidating discussion about Fine Art. An Art Tasting can be utilized for corporate excursions, dinner parties, house warmings, and private social functions.
The Premier Art ‘Art Tasting’ idea initially came from noticing that there were very few young collectors. We realized that young professionals, who had the disposable income, were not investing in art. It was not because of a lack of interest in the subject, but more often than not, they were simply unaware. The art tasting concept was developed initially to serve this group. It has since grown to educate all age groups and can be adjusted for any setting, from a dinner party to a corporate lunch and learn.

3. What is your definition of affluence?
The basic definition of affluence is having an abundant supply of a particular resource. I think the definition of affluence when speaking monetarily is a bit different. There are a number of consumers in the market place who have enough money to purchase whatever they wish. To have the ability to not only purchase goods and services, but to also understand the what and why of your investment equals affluence.

4. Art is usually perceived as a playground for the wealthy. How do you think your product fits in an affluent lifestyle?
The beauty of fine art is that it can fit the lifestyle of anyone. Our client base ranges from the middle class to the extremely wealthy. It is an investment that can hold both an intrinsic value as well as be a sound investment for your long term portfolio. Because art never depreciates in value, it is something that can be passed down for generations and continue to grow in its significance to a particular as well as in its value.

5. Why is it that so many of us shy away from Art as collectibles? Is it a lack of awareness or just a lack of interest?
It is definitely a lack of awareness. Like yachting and polo, art collecting has long been considered a rarified realm inhabited solely by deep-pocketed connoisseurs speaking an impenetrable vocabulary. Potential collectors believe they are priced out of the market to buy and collect art. Moreover, the prospect of visiting a gallery intimidates many.

Realizing that these misperceptions were barriers to purchase, we redefined the art experience in a manner that has broadened the audience and market for buying and collecting original art.

6. In these tough economic times, what advice can you give affluent individuals?
It is important to understand that there are a number of ways to diversify your portfolio, and art is definitely one. Collecting has both a financial and an intrinsic value. When investing in art, it is important to realize that artwork will outlive generations, so the investment can definitely be considered long term. The best way to begin a collection initially is to buy what you like and understand what you are purchasing.

7. In your eyes, does the price of a product/service always indicate its quality (as it pertains to your field)? If not, what should people be paying attention to?
No. We always tell people to buy what you like, but that also comes with some responsibility. When “buying what you like” you should also be sure that you are buying from a reputable, established art business or artist. You should also ask for a Provenance and slide or CD that contains the image of the piece. The Provenance is the birth certificate of the painting. It tells you when it was completed, the materials used, the Artist, and each location that it has been displayed. Along with the slide or CD, the Provenance can be placed in a safety deposit box (or other secure area) so that you have a record of the purchase.

8. As it relates to your experience, what is the biggest mistake that black people make when first coming into some money?
Many new to wealth tend to make the mistake of not investing and do very little research if any in ways to grow their wealth. Art is an asset that always appreciates in value. We have many first time clients who will go out and spend millions on material goods that do nothing but depreciate in value and then when purchasing a piece of art, they want to negotiate the price of the artwork, or simply do not understand the value in the work.

9. Any advice addressing that problem?
A major fix to the problem comes in the area of education. Many of us who can afford to collect, do not because we just don’t understand the importance or value that could come from building a collection. This is where events like the ‘Art Tasting’ come into play.

10. Time to answer the Ultra Quizz:
a. What is your favorite vacation spot?
Turks and Caicos

b. What is the top luxury item on your wish list right now?
Charles White original

c. Who would you like to work with the most?
Everyone who is interested or could become interested in art collecting. Barack Obama

d. When it comes to your money, anything you'd like to do better?
Make More!

e. Describe your current living quarters in 5 words: Modern and Full of Art

Thanks again Onaje for your insight, and we really appreciate your taking the time to educate us all about your company and services.

Please visit Premier Art at: www.premierart.net