✅ The earliest Basquiat spotter; meet our art expert
Gordon Gecko of Wall Street is partially based off of the persona of our new art expert. Introducing our art aficionado, a collector of over 1400 artworks, who started his career on Wall Street as an IB financier.
Asher Edelman was raised in a family rooted in secondary impressionist pictures, he found himself diverging from their artistic path at a young age. Instead, a spark ignited within him at the age of twelve, leading him down a unique path of art appreciation. Edelman is one of our art experts, and the CEO and founder of his company which deals in art, M&A arts.
From his early days purchasing art books at the Metropolitan Museum of Art to his college years studying Renaissance courses alongside economics and mathematics, his love for art intensified. He understood early on that art wasn't merely observed—it was a visceral experience, one that required active engagement. Thus, he dedicated countless hours each week to simply looking, absorbing, and learning from the diverse array of artistic expressions around him. He sees art as a visual sport. “Once you have dealt with the visuality, which is really what it's about, I feel certain that it's not a bad idea to deal with the intellectual, historical, and social sides of the art. But as it begins with the visual, it's almost of no concern what the artist thinks it does or anything else, until that has been stepped through. So, yes, I do get to know the artist, And yes, it's always very interesting later, as to what they think about what they're doing. There is a psychological undertone but it's not always planned."
In the bustling art scene of New York City in the 1960's, where galleries predominantly showcased impressionist, modern art, he carved out his own niche. He sought out those few establishments brave enough to exhibit something different, building relationships and honing his eye for emerging talent along the way.
His journey as a collector was marked by both audacity and intuition. He didn't hesitate to collect pieces he loved, even when there was little market for them. But his passion for art extended beyond mere collecting. In 1988, he made a bold leap, leaving behind a career on Wall Street to pursue his love for art full-time. Relocating to Switzerland, he established a museum in Pully, bringing contemporary exhibitions to a new audience and cementing his place in the art world.
From his first acquisition of a Jasper Johns piece for $800 to eventually becoming among the first collectors of Basquiat, his collection burgeoned with both established icons like Warhol and then emerging artists.. Among his most notable acquisitions is his early purchase of Basquiat, a visionary artist whose work would come to define an era. Remarkably, Edelman never paid more than $4000 for a Basquiat painting—a seemingly too good to be true price in today's art market, which now stands as a testament to hisforesight. Today, those same pieces are valued at as much as $100 million. In a market where others may have hesitated, Edelman saw potential where others saw only confusion.
Likewise, his acquisition of Warhol's iconic "Double Elvis" exemplifies his astute ability to discern value where it might elude others. Purchased for a mere $500,000, this masterpiece now commands a jaw-dropping $55-60 million.
Reflecting on his journey, he acknowledges the risks and rewards inherent in collecting. In his extensive dealings within the art world, he has observed that 25% of his chosen artworks have appreciated by over 1000% in value over time, while another 25% have depreciated to insignificant values. However, many have experienced fluctuations, with some rebounding from lows and others showing moderate gains. Of the remaining 50%, a substantial portion has also experienced appreciable gains in value over time from 10% to 30% per annum.
We are honoured to have such an esteemed expert among us, one whose discerning eye for emerging talent and commitment to curating the finest artworks enriches our artistic landscape.
