In this presentation, Kait McElwee of Arcadia Art Consultancy will unpack the methodology behind pricing and valuation in the art world. She will break down strategies for setting prices at the early stages of your career, as well as when and how to raise your prices and strengthen your market over time. Kait will also highlight the key distinctions between fair market value, retail value, and replacement value, and explain how these apply to your work. In addition, she will address the differences between the primary and secondary markets and what they mean for artists navigating their careers.
About the Speaker:
Kait McElwee (she/her) is an experienced advisor well-versed in both the primary and secondary markets. Kait earned her bachelor’s degree in art history and her master’s degree in art history/fine art administration from Davidson College and Temple University, respectively. As an advisor, Kait specializes in Modern, Post-War, Contemporary, and Emerging Art.
Kait is also a USPAP-compliant appraiser, being an active and accredited member of the American Association of Appraisers. She routinely appraises works by emerging, established, and blue-chip artists in the six, seven, and eight-figure range. In addition to her fine art specialization, Kait is a skilled cross-over appraisal specialist, having an in-depth knowledge of 20th/21st Century Design, American Furniture, Folk & Decorative Arts, British & European Furniture & Decorative Arts, Books, Maps & Manuscripts, Couture & Accessories, Fine Silver & Objets de Virtu, and General Residential Contents.
Having established considerable experience working with both private and corporate clients, as well as non-profit institutions, endowments, and artist estates, Kait is deeply familiar with the needs of her clients and is able to provide bespoke solutions designed to resolve complex issues related to multi-million dollar collections. This is further complemented by Kait’s ongoing academic pursuits as they relate to the confluence of fine art, finance, and the law—specifically with regard to the canonization of contemporary artists via market factors.
In her spare time, Kait serves on the Board of Directors for the McColl Center, a nationally acclaimed artist residency and contemporary art hub in Charlotte, North Carolina. She is also the Chair for Potters Market at the Mint, a contemporary ceramic fair at The Mint Museum. Additionally, Kait sits on both the American and Contemporary Art Collecting Boards for The Mint Museum. Kait was the inaugural Chair for the "Coined in the South," a juried art biennial at The Mint Museum - producing the first two iterations.