In the field of the art market, leadership requires a unique blend of creativity and analytical prowess. To navigate the intricacies of this industry successfully, one must seamlessly switch between the creative and analytical facets of the mind. This duality is precisely embodied by Muys Snijders, the Head of Art Services at Private Client Select.

Muys is not just a leader; she is a transformational executive with a proven track record in sales, marketing, and business development. With over fifteen years of senior-level international experience, Muys has honed her skills in directing strategy, sales, marketing, and operations. Her entrepreneurial approach is evident in her ability to conceptualize and implement strategies that capitalize on new business opportunities, fostering growth and profitability in highly competitive markets.

A distinguishing factor in Muys’ leadership is her comprehensive understanding of the mechanics and workings of the art market. This includes a theoretical and practical grasp of market dynamics, the nature of transactions, and the ability to monitor changes and volatility. Beyond the analytical aspects, she shares a profound passion for art and possesses a keen understanding of what makes an artwork exceptional and valuable. This unique combination captures the undivided attention of clients, establishing a connection that goes beyond business transactions.

Muys’ leadership style is characterized by the ability to assess organizational needs and identify practical solutions. She excels in supporting organizations to diversify, pivot, and expand into new areas, showcasing a strategic mindset that balances creativity with commercial acumen and critical thought.

As the Head of Art Services at Private Client Select, Muys exemplifies the qualities needed to thrive in the competitive and ever-evolving art market. Her transformative leadership and wealth of experience position her as a visionary in the industry, capable of steering organizations towards growth and success.

Navigating the Art Market

According to Muys, the art market serves as a platform for buying and selling works of art and other related articles and services. Over the last two decades, this market has experienced significant growth, reaching approximately $65 billion in sales in 2023. Despite its expansion, the art market is known for its opacity, lack of transparency, and, unlike financial markets, it operates without regulation.

Muys’ educational background in the history of art, classical archaeology, arts management, and art market appraisal has provided a solid theoretical foundation. However, it is years of practical experience on the commercial side of the art market, involving exposure to various artworks, collaboration with collectors, and learning from art specialists and professionals, that has granted Muys a deep understanding of the inner workings of the market. This includes insights into supply and demand dynamics, price determination, the introduction of collections or artists to the market, and the factors that attract or deter buyers.

In Muys’ role at Private Client Select, this accumulated knowledge and expertise is applied to advise clients on navigating the complexities of the art market. Muys helps clients assess financial considerations, evaluate the condition of artworks, and consider location-related risks concerning their art assets.

Protecting Your Art Collection

Muys emphasizes that while collecting artworks can be a delightful experience, novice art collectors may not initially realize that owning an art collection requires continuous attention and tender care, much like having a pet.

According to Muys, the financial impact of a loss can be significant in the art world, particularly when factoring in potential restoration fees or depreciation in value after a loss. Unique artworks, often challenging to replace or obtain again, may have been sought after by multiple collectors or possess historical or national importance. The emotional toll of losing such pieces can be profound. At Private Client Select, Muys and the team offer proactive and ongoing professional guidance to support collectors in protecting and caring for individual artworks and entire collections. In the unfortunate event of a loss, the Art Services team collaborates with claims adjusters to ensure clients receive the highest levels of expertise and care.

Insights from Auction House Leadership

Muys gained valuable insights into managing risk appetite and tolerance from both the perspectives of art collectors and auction houses during her leadership in sales at the worlds leading international auction house. In the auction house setting, there is a general appetite for consignments, and careful placement of artworks is crucial for achieving the desired sales outcomes. Strategies such as guaranteeing prices and enlisting third-party guarantors are employed to offset financial risks, especially in high-profile evening auctions.

On the buyer’s side, Muys highlights the potential for lucrative returns in art investment with a discerning eye, proper due diligence, patience, and an understanding of market dynamics. Assisting collectors by assessing their risk tolerance and understanding their mindset before acquisitions contributes to making well-informed decisions and achieving desirable outcomes.

With almost a decade of experience in the fast-paced Post War & Contemporary Art market, Muys’s analytical thinking and problem-solving skills are finely tuned to evaluate people and risk profiles. These leadership roles have equipped her to provide specialized solutions to complex art insurance and risk management challenges.

Mitigating Risks and Safeguarding Artistic Heritage

Muys emphasizes the importance of disaster mitigation and response initiatives in managing risks related to art collections. Her team conducts a thorough risk analysis for policyholders through Collector Care Assessments, often conducted at the location of the art. This aims to identify, analyze, and assess risks that could directly or indirectly threaten the integrity of artistic heritage or private collections. The findings are compiled into a report with recommendations on how policyholders can control, avoid, minimize, or eliminate identified risks.

Examples of recommendations range from basic measures like applying museum wax to breakables to comprehensive guidance on planning for emergencies such as wildfires or hurricanes. Muys also advocates for best practices, including the identification and inventorying of assets, along with recent invoices and up-to-date appraisals. This comprehensive approach ensures a thorough understanding of the collection and helps policyholders proactively manage potential risks.

A Commitment to Community Impact

Muys underscores the importance of community involvement and giving back. She highlights the increasing prominence of Diversity, Equity, and Inclusion (DEI) in corporate America, emphasizing the need for a DEI mindset that aligns with the creativity, curiosity, and diverse perspectives of artists and creators. Muys has been actively involved in launching strategic partnership programs supporting non-profits, artists, and designers. These initiatives have sponsored exhibitions, commissioned works, and provided a platform for achievements, contributing to thought leadership both within the corporate realm and the community. She asserts, “Most of our high-net-worth clients are entrepreneurs, CEO’s or otherwise successful business leaders. Whilst being their art advisor, it is helpful to be able to speak in their business “language” as it pertains to their business challenges, deals, (alternative) investments, approaches to risk, wealth preservation, legacy, and succession planning.” Through such efforts, Muys aims to support the art ecosystem and nurture her clients’ passions.

Digital Transformation in Art and Insurance

Muys notes the ongoing digital transformation in the art market, accelerated by the pandemic, with increased online sales and the emergence of digital viewing rooms. This shift has enhanced access and transparency, especially in pricing data. She anticipates further changes in the art and insurance market, recognizing the impact of artificial intelligence (AI) in revolutionizing the insurance industry. Muys is exploring how machine learning, as part of AI, can support the insurance of art collections, staying ahead of trends and improving risk pricing within clients’ insurance policies.

For the future, Muys emphasizes the globalization of the art market, driven by technology adoption and a reduced dominance of Europe. However, Muys points out that there isn’t a single, global art market; preferences vary significantly by geography. Understanding clients’ goals, tastes, culture, customs, and behavior is crucial when working across multiple geographies or in a global role. Muys emphasizes the need to adapt communication and management styles based on the specific context and environment, recognizing that motivations for acquiring and owning art differ widely among collectors.

A Guiding Philosophy

Muys highlights the book “Teamwork Makes the Dream Work” by John C. Maxwell, emphasizing its resonance with her perspective. The book underscores the importance of working with a successful team to fulfill dreams. She notes the uniqueness of the team at Private Client Select, emphasizing that each team member has extensive prior experience in different parts of the art market before joining the insurance company. The team’s collective expertise, gained from working in museums, with high-profile collectors, in the commercial art market, at art fairs, and in

galleries, sets them apart. This shared knowledge, expertise, and collective network enable them to serve brokers and policyholders comprehensively across the entire spectrum of the art market.

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