In Conversation With: Philip Hoffman on Bridging the Worlds of Art and Finance

Posted by Bedrock on 1st July 2025

Our In Conversation With series shares personal and thought-provoking insights from inspiring individuals across diverse industries and backgrounds. It provides practical perspectives on how different forms of capital — intellectual, social, and financial — can be harnessed to drive innovation, growth, and meaningful change, while also offering investors valuable insights into the key trends shaping different sectors.

In this edition, Bedrock’s Art Specialist, Cecile Canton, speaks with Philip Hoffman, Founder and Chairman of The Fine Art Group — a leading independent global advisory firm, specialising in art, luxury, art financing, and valuations. 

From turning down a $35M deal to advising families across the globe, Philip Hoffman shares the values, lessons, and vision behind building a trusted art advisory firm. Discover how he brought financial discipline to the art world—reshaping how collectors and investors approach art as an asset.

Bridging the Gap Between Art and Finance

You founded The Fine Art Group in 2001, what sparked that leap from a top global auction house to launching your own art investment fund?

I saw a gap in the market that dealers, galleries and auction houses were not altogether fulfilling. There was immense interest in art as an asset class and nowhere that treated it with the same rigor and professional approach as other investments. I founded The Fine Art Group to bridge this gap—to combine art and financial expertise.

“There was immense interest in art as an asset class and nowhere that treated it with the same rigor and professional approach as other investments.”

Building a Family Office For Art

Tell us about the moment you realised Fine Art Group wasn’t just a fund, but a global art advisory ecosystem. Was there a defining pivot moment early on?

I would say the shift was predominantly driven by our clients. Although we started as a fund, our clients very quickly recognised our expertise and began requesting additional advisory and appraisals services from us. From there, I saw the opportunity to create something like a family office for art, where any requirement relating to art—and now all other luxury passion asset—could be fulfilled by a single entity: The Fine Art Group. It made sense to have a lending product for clients who want to get liquidity from their art without risk or impact to their other investments or capital.

“From there, I saw the opportunity to create something like a family office for art, where any requirement relating to art—and now all other luxury passion asset—could be fulfilled by a single entity.”

How Core Values Become the Real Currency of Success

You’ve emphasised uncompromising transparency and rigorous due diligence, once walking away from a $35M deal despite a half-million fee. How do these values shape client trust and your company culture?

It is critical to our reputation is that we provide a discreet and transparent service, and this is underpinned by world-class experts and incredible connectivity across the market. We are so deeply cognisant of the market and aware of buyer pitfalls that we often tell our clients not to purchase a work, whether we think the condition is not acceptable or it is priced at a too high level, or we had doubts about its authenticity—as occurred with the $35m deal, among other examples. Our clients choose us because we have built the best team who can source the best works and provide clients with advice they can trust. I always say everything we do must be 3 things: professional, profitable, and fun. These values underpin the company culture and everything we do.

The Rise of a New Era of Art Collectors

Your firm now advises family offices in 28 countries across $20B in annual valuation. How has the appetite, profile, and mindset of clients changed over the past two decades?

Foremost, clients have become more financially aware; they want to have access to the best opportunities and they don’t want to make financial mistakes. Decades ago, a majority of clients had extensive art historical knowledge and were addicted collectors. Over the last 10 years, however, there has emerged a new breed of collectors who have a less art historical knowledge but an interest in the subject matter and want a tastemaker or advisor to give them insight and education about the significance of artworks or collectibles to truly shape a collection.

“Over the last 10 years, there has emerged a new breed of collectors who have a less art historical knowledge but an interest in the subject matter.”

Rules for Navigating Uncertain Markets

You’ve candidly noted losses in Chinese contemporary art and the risks of old masters. Which past decision taught you the most? What’s your rule today when navigating uncertain markets or new artist segments?

I have developed many rules for navigating uncertain markets: stick to the area of expertise you see fit and have knowledge, utilise well informed advisors, be discreet, etc. I have also learned most of the things you shouldn’t do when buying art over the past 25 years and my sense is that now is the time to come into a buyer’s market.

“My sense is that now is the time to come into a buyer’s market.”

Collect with Heart, Invest with Vision

From buying Heath Robinson cartoons as a student to Bridget Riley, what does your collection say about how your taste and mission have evolved?

I realised that you need to look at art with various different mindsets. One mindset is what you enjoying hanging in your home at a very affordable price—like William Heath Robinson—and the other is building an art collection that rates on the global stage, possessing long term and has international value. Heath Robinson fulfils the former mindset and Riley meets the latter.

Pursing The Long Game of Art Careers

Based on your journey—from corporate roles to building a multi-vertical art firm—what’s one counterintuitive piece of advice you’d share with someone hoping to carve their own path in the art world?

I’d recommend training and learning from experience with top companies in the field. Don’t think you know it all in the market until you have put in 10-15 years with that market. If you’re determined, hardworking and prepared to take risk with only a 10% chance of success, do it!

If you are interested to find out more about The Fine Art Group, or how Bedrock helps clients with their art collections, please do not hesitate to get in contact with us: info@bedrockgroup.ch.