Inversion Art Interview - Kendall Warson, CEO of Cohart
Co-Founder and CEO of Cohart, Kendall Warson shares her thoughts on why everybody can be an art collector, and how eliminating bias could accelerate advancements in the arts
I was connected with Kendall Warson back in January of 2021, when Inversion Art wasn’t even called Inversion Art, and her startup Cohart wasn’t even in beta yet. Kendall is one of those startup founders whose generosity of spirit makes her an instant friend and we’ve been trading ideas and favors ever since.
Kendall’s company aims to leverage community to bring more people into the art world as patrons, collectors, social curators and more. The platform’s unique approach has attracted investment from a number of great VCs and notable investors, including Paris Hilton, while driving sales that exceed those of numerous art discovery platforms that have come before it. Today, she shares her thoughts with us on everything from collecting to the challenges of building new business solutions in the arts. Enjoy!
Kendall Warson
Co-founder & CEO of Cohart.com, International Curator, former Creative Director of Wonderspaces
Your platform Cohart is making great progress in helping collectors, especially new ones, get comfortable with buying art online. What are the biggest misconceptions that art-curious consumers have about collecting art, and what are the first few lessons they are likely to learn as they go from owning no original art to having a small collection?
At Cohart, we firmly believe that anyone who owns art is already an art collector, regardless of how they perceive themselves. We understand that the term "collector" can feel intimidating, especially given how art is often portrayed in the media. That's why we're dedicated to demystifying common misconceptions about art and the experience of becoming a collector of original pieces.
"I don't know what I like": Many people think they're unsure about their art preferences, but they already have a sense of style in other areas of life, like fashion or music. Trusting your gut and exploring what resonates with you emotionally is key to finding art you love. Your style is uniquely yours, and as you delve deeper, you'll gain confidence in your inner voice and vocabulary of what you love, regardless of others' opinions.
"I don’t have money for real art": Some believe that original art is only accessible to the wealthy and end up settling for pieces from decorative sites that lack real stories. The truth is, you can start an original collection with pieces ranging from $100 to $500. Original art is real art, and original art isn't just a purchase; it's an investment in joy and character for your home.
"I need a degree to understand art": While art education is valuable, you don't need a degree to appreciate art. Understanding an artist's story and process can be just as meaningful as academic analysis. Building a connection with artists and their work enriches your experience as a collector. It also empowers you to dive deeper into your own art community and connect with your creative instincts on a deeper level.
Collecting art is about trusting your taste, exploring affordable options, and connecting with the human stories behind the artwork. At Cohart, we're here to make that journey accessible and enjoyable for everyone.
What are some negative things that you think have a higher probability of happening when someone buys art from a gallery vs. buying it online, or more specifically, via Cohart? And how can buyers protect themselves better?
In a traditional gallery setting, buyers often experience a sense of pressure, which can lead to impulsive purchases beyond their budget. While the artwork is typically well-vetted, reflecting the gallerist's taste and confidence in the artist, there's a risk that the buyer's personal connection to the piece may not have a strong foundation.
Conversely, buying art online offers the convenience of shopping from home, allowing buyers to listen to their intuition more freely. On Cohart, buyers have the added benefit of establishing a connection with the artist, fostering inspiration and a desire to support the artist's journey directly.
In terms of protection, Cohart takes verification and authentication seriously, providing comprehensive information to empower buyers to make informed decisions. Our goal is to ensure buyers have a credible and exceptional experience, albeit in a self-directed manner compared to a traditional gallery setting.
As a buyer, it's crucial to prioritize information. Don't hesitate to ask questions such as "why is this the price?", "how was this made?", "how does it ship?", and "how is it best displayed in a home?". Additionally, gaining background information on the artist's CV, previous collectors, and personal backstory can further validate a purchase decision, especially if you are hoping that the work will appreciate in value.
We can probably agree that most art below a certain price point is unlikely to provide any sort of financial return except in a few very lucky circumstances. What advice do you have for people who do want to buy art with the potential to either maintain its value or generate returns?
Initiatives like Inversion Art serve as excellent entry points! The traditional art world can be a bit wild—it's largely unregulated, driven by networks, and predominantly offline. Establishing connections with dealers, advisors, and artists who can guide you through art fairs, auctions, and market trends is key. Cultivating connections with art professionals is equally important; they offer invaluable insights into market dynamics and can help pinpoint pieces with investment potential. Selling art to get a return can also be quite challenging without an established network.
Here at Cohart, we're crafting a new art world. We cater to buyers who are just starting their collecting journey and may not have an established art network. Our focus is on connecting buyers with original artworks that resonate emotionally and hold value. We foster a community where collecting happens collaboratively, leveraging social networks, artist reputations, and artwork information to provide insights into emerging trends for new buyers. In doing so, we're building an online community of art buyers that influences new trends in the market for future generations.
Does it take a different approach to sell a work of art that costs $500 versus one that costs $15,000, how so, and what does Cohart do now, or will it do in the future, to meet the unique needs of customers buying more expensive works of art?
It varies depending on the buyer's profile, socioeconomic status, and experience in purchasing art. For those with ample capital and previous buying experience, acquiring more expensive artwork may come naturally. A personalized, white-glove experience is essential at this price point. However, for budget-conscious individuals or those venturing into their first major art purchase, building confidence may require additional support. This could involve discussions with art advisors and addressing common questions, such as how to install or frame the work in their home.
At Cohart, we have both types of buyers, but our sweet spot is the $5,000 buyer. This individual wants an elevated and personalized experience – they want a story to share about the artwork and they want to showcase the piece to friends. As a platform, we deliver a next-generation collector experience, offering a digital-first post-purchase flow. This enables buyers to view the work in their dashboard, track its value, display it on their collector profile, and earn credits towards future purchases by referring friends to their favorite artists.
Looking ahead, we're exploring various avenues to enhance the collector experience to convert new buyers into confident collectors. This includes introducing collector memberships and circles to unlock VIP art experiences, both online and offline. Additionally, we're considering options such as opening re-selling and trading opportunities, as well as implementing local art programming. Our goal is to support the unique needs of collectors and provide avenues for them to flourish in their collecting journey.
What do you think is the hardest part about building a company in the art and cultural sector, and what types of organizations, institutions and individuals could be doing more to promote the advancement of new models and approaches in the arts?
There's a bias against creative industries. They are often dismissed as not being "real businesses." As you know, this bias makes it challenging to secure venture capital. But let's face the facts—art is a $65 billion market. Art is not just a niche interest—it's woven into the fabric of our daily lives, ubiquitous and essential.
In reality, the idea that art and business are mutually exclusive is outdated. I’m excited that new generations are reshaping this narrative, recognizing creative expression as essential to human needs. Additionally, the evolving business landscape demands a creative approach to connect with next-generation consumers. Companies must adopt art and creativity as core values and actively foster creative expression.
At Cohart, we're spearheading efforts to democratize art and integrate it seamlessly into everyday consumer experiences. We're passionate about bridging different worlds, whether it's sports and art, fashion and art, or even gaming and art. These collaborations make art feel relatable and accessible.
By collaborating with cultural icons like Paris Hilton as an investor and advisor, we're exploring innovative ways to showcase celebrity art collections and weave art into everyday conversations. Collaboration is the future.
Traditional art organizations need to adapt and evolve, too. Removing traditional gatekeepers and building more bridges will help new models flourish.
Despite the challenges, I remain optimistic about the future. We must persist in pushing forward, embracing innovation and creativity as catalysts for positive change.