Invest in Art with Tips from Asya Pingoltsyan

This week, we’ve had the pleasure of interviewing Asya, the founder of Bingyol’s Armenian Auction House.

Tell us about your background

My name is Asya Pingoltsyan. I graduated from Lomonosov Moscow State University with majors in Museum and Gallery Management and Business Administration in the USA. I am four years into the art business. I’ve organised many exhibitions in Russian state museums such as The Pushkin State Museum of Fine Arts, State Tretyakov gallery, Museum named after A. Bakhrushin, Central house of Artists and many others. Moreover, I had a chance to take part in organising the first Forbes conference in Russia “How to Increase the Value of the Business using Blockchain Technology” and “How to Increase Company Profits with Big Data”. Bingyol’s already has a lot of exhibitions in many cities all around the world: Paris, Venice, Moscow, Basel, Los Angeles, Dubai and many others.

Tell us about Bingyol’s Armenian Auction House

Bingyol’s primary focus is fostering Armenian artists around the world and spreading the cultural policy of Armenia. As the first Armenian auction house, Bingyol’s proudly presents both classic and contemporary artists and their artwork to the global art market, reaching thousands of art collectors and galleries all around the world. With a global presence in over 9 countries including Switzerland, France, Italy, Russia and the US, Bingyol’s offers auctions, art exhibitions and auction gala nights which allow people from different cultural backgrounds to discover both aspiring and established Armenian artists. A percentage of the funds raised through events is donated to charity.

Describe the process & stages for participating in an auction house

The process of purchasing art from Bingyol’s is very easy! You can go on the website and choose any artwork you like, click on it, and we’ll ship it free to you anywhere in the world. The same goes for our auctions; you can see our prepared catalog and take part in our upcoming actions by registering on our website. The policy of our company is luxury art objects for affordable prices. In addition to our auctions and exhibitions, we also offer our clients a personal selection of any kind of artwork which would save them time and money as we work directly with artists from different corners of the world. In regards to pricing, we find our clients artworks according to their preferred budget.

How to make the right decisions when purchasing art?

First of all, we know that art is a heirloom and by purchasing art today, we are investing for the next generation. We can make the right investments in art by trusting our intuition and with the help of a team of experts. We can increase our money by investing on the right art objects. Investing in art may be a great idea if it's something you truly love, but it can get risky, so you need to do your research. Art can do more than brighten a living space. The art market has become one of the hottest new investment crazes in recent years. Painting and sculpture collectors frequently buy pieces with an eye towards adding to their investment portfolio. Start by deciding how much money you are prepared to spend. It should be an amount you can afford to part with, in case the artwork depreciates. Don’t forget to factor in storage and maintenance costs. Then, learn as much about the art world as you can. Visit local galleries and see what they have to offer; chat with curators, who will usually be eager to answer any of your questions. If you live in or near a city, you’re probably close to gallery openings and art fairs, where up-and-coming artists tend to showcase their pieces. Once a piece or artist catches your eye, you can start narrowing down your research to see how much a particular artwork costs. Your next step is to get the artwork appraised by a professional appraiser to determine its quality. You can either purchase an artwork yourself – often the costlier option – or buy shares in artwork through an online marketplace. Since we live in an age of mass information, plenty of high-end artwork sell online. However, before you make your purchase online, make sure you’re purchasing from a legitimate gallery, dealer, or investment firm.

In which art pieces should you invest?

We suggest investing in young and perspective artists, as we know that we could promote them via our exhibitions worldwide and there’s plenty of potential growth. Provenance is very important for an art object and the biography of an artist.

How can clients purchase art?

Clients can purchase art through our website online, during our exhibitions and preview shows, as well as online and physical auctions. For private selling, we can make a personal selection - as we have a huge base of artworks worldwide.

Are there any upcoming events you are hosting this year?

We had a lot of plans for this year, such as taking a part at the World Art Expo in Dubai, UAE and our personal exhibitions and presentations, but as we all know this year gave all of us a bunch of surprises and we stopped everything for a while, except our big projects as we worked really hard with our team on one of our big projects which we’ll be presenting soon. Stay tuned on our weekly YouTube channel and watch our talk show “Breakfast with Bingyols” for the latest announcements. We’re currently getting ready for the exclusive exhibition in the heart of Moscow at the Luxury Business Center in August. Upcoming events include a cultural exchange on behalf of the South Korea Council, a presentation in Tyumen in September, and a Cultural presentation and charity auction at Nizhny Novgorod with the consul of Armenia. Moreover, we are getting ready to start our online auction with our partners which would take a place at the new blockchain company where our clients could buy artworks and share it via Webcast.