Art Market Solutions
& PhD Art Price Check

Do NOT Over Pay or Sell Cheap
The Best Art Deals,
Over/Under Priced Art,
Christie Manson Woods

Address: 14 Hanover Street, Mayfair
London, United Kingdom

Phone: +44 (0)207 293 0320

Mobile: +44 777 648 6390


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-Art Sales, Art Finance, Art Pricing,
Art Valuation, Forecasting
& Investment Consultants-

-Fine Master Paintings,
Antiques, Works of Art,
Vintage & Rare Guitars-

Art Fake or Fortune?


Our work is scientific PhD Econometrics,
very advanced and cutting edge ...

Art Auction Buyer, Art Fund Investor
Art Private Sale
PhD Price Check,
+ Art Buyer Inspection & Survey

Art Fake or Fortune:

Valuation, Pricing, Forecasting,
Investment, Market Research & Analysis

Fine Master Paintings,
Works of Art & Antiques,
Vintage & Rare Guitars

We identify
the most favourable
cities and auction houses
for the public sale
of works of art

We strongly advise
buying expensive
original art ONLINE

only after an
PhD Inspection
and survey
by us

Investing in an Art Fund,
Art Fund Investor,
Art Auction Buyer,
Art Private Sale,

PhD Inspection
PhD Art Valuation,
Price Comparison,
Best Art Deals,

14 Hanover Street,



W1S 1YH,

Established over 27 years
since 1989
London Map

Art Market Solutions

+ 44 (0)207 293 0320

+ 44 (0)777 648 6390


@Christie Manson Woods,
Art & Antique Dealers.

Art Pricing, Valuation, Forecasting & Investment Consultants.

Art Market
Research & Analysis,
Fine Master Paintings,
Works of Art & Antiques,
Vintage & Rare Guitars

Over / Under Priced Art
@ Auction + Dealers

PhD Art Price Comparison

PhD Art Price Check

All The Best Art Deals

Roger Stiles
MSc (Econometrics) Christie's Education

Roger spent
seven years
working for
Sotheby's in London
where he gained experience
of works of art & antiques

Roger studied fine
& decorative art
at Christie's Education
+ Christie's as an expert in
vintage and rare guitars
for three years

Roger graduated from
Kingston University Business School
with a postgraduate diploma
in Management Studies
and holds a Master's degree
in Econometrics & Forecasting.

His work is PhD level
specializing in
works of art & antiques.
+ twenty seven years
dealing in
fine art & antiques
at the top level
in Mayfair, London.

Roger is the Founder
and CEO of
Art Market Solutions
and a Fellow of the
Royal Statistical Society.

For over 27 years,
Roger deals with
a wide range of
works of art & antiques.
His clients include:
art collectors,
ultra high net worth,
family offices,
private banks.

Roger's work is UNIQUE -
Scientific Econometrics PhD
level, advanced
and cutting edge

Analysis, Timing, Location

Art Market Solutions measures
the investment performance
of art against asset classes

Analyzes its performance
against benchmarks
and measures the
impact of
economic forces
on the art market.

Art collectors & investors
look to analysis
to understand the
overall art market,

individual artist,
category trends,
the value of
their art collections,

as well as insight
into the timing
and location of
their art sales
and purchases.


This masterpiece
by Raphael c1505
showing Mary, infant Jesus
feeding a lamb
belonged to my client
who lived in Monaco

Our highly sophisticated
data analysis
& modelling tools
improve knowledge,
boost confidence

We break the mould of
art insider knowledge
to allow more people
to enter and
exit the art markets

Do NOT over pay
or sell cheap

Expensive art can be
over priced
Get value for money

Art As Investment

Art is received as an asset class
Investors recognize art
as a hedge against inflation
with long term return potential
which can on occasion
outperform the stock market.

High quality art
is an international currency,
immune from local market
and economic conditions.

Growing global wealth
and new buyers should continue
to drive demand for art and price appreciation.

Art shows low and
negative correlations
with stocks and bonds
which suggests that
art can effectively diversify
an investment portfolio.

To limit risk and diversify a portfolio
using mean-variance optimization,
twenty-five stocks would be considered.

In my opinion
I would add at least
half a dozen pieces of
fine and decorative art
in the portfolio such as
English & French furniture,
Chinese Ceramics,
European porcelain
alongside fine paintings.

Art Econometrics

Econometrics literally means
"economic measurement"
A highly effective investment tool.
We measure the performance
of your art works and their
relationship to economic
variables and other assets
and art portfolio optimization.

Econometrics is used to answer the following questions:

I wish to invest in art,
how do I construct a portfolio
to limit my risk and maximize my returns?

Prices in the art market are going
from one high to another,
which art offers good value?

We advise clients on the following points and more.

A client quote:
We are hoping to invest.
My questions are:

Would you agree with
the price level of his work,
as he is becoming known
as an artist now?

Is it likely
that his artwork
will go up in value?

In the event that we would like to sell his work later on,
is this an easy process?

What are the considerations
before purchasing
expensive artwork,
modern art?

We construct investment portfolios
of fine & decorative art
using a mix of traditional art valuation techniques
and the best econometric valuation, analysis
forecasting methods to
manage risk and returns.

In addition to
his MSc Master's degree
and advanced PhD work
in Art Econometrics,

Roger Stiles has
ten years auction house
experience working at
Christie's + Sotheby's
and twenty seven years
dealing in
fine art & antiques
at the top level
in Mayfair, London.

We model artwork
values and prices
using time series analysis
& econometric methods.

We use financial &
statistical models to
Art Markets

If stock markets move up,
FOREX rates
move down etc,
what is the value of my
Picasso NOW
and in three years time?

We calculate the
crucial difference
between art price & value
to determine
if an artwork
is undervalued
or overvalued.

We decide to buy, sell, or hold.


We also arrange access to
art auction price guarantees,
auction sale advances or art loans

Thought tastes are slow to change
in well-established art markets
with broad collecting bases,
changes in economic
and financial markets
which are
significant determinants
in the formation of
art prices - are not.

This is why
auctioneers' forecasts
show less volatility
than hammer prices.

A premium price is paid for works of art
which are "fresh" to the market.

The more recent the artist
the easier their work can become devalued!

With modern and
contemporary art,
returns are potentially
high along with volatility
or risk of 50%
High risk, high reward.

The difference in
price between
an artist's
average work
and his
best effort
is considerable.

High quality art is more resilient to erosions in value.
What defines "art quality" is of course subjective but
in practice poses a challenge
the more recent the
artist or art category.

Let's take two examples
of important artists-
LS Lowry and Augustus John

Mispriced Art:
LS Lowry RA (1887-1976)
Augustus John OM RA (1878-1961)

Roger with LS Lowry art
(ex Sir Elton John),
"The Beach at Penarth" and on the right "Yacht at Lytham"

Over a thirty-year period
famous UK artist
LS Lowry RA (1887-1976)
has yielded returns of
16% per year.

LS Lowry
is the market leader
in the Modern British art
with good upside potential.

Our econometric models
valued the
LS Lowry "Beach at Penarth"
between GBP 200,000
- GBP 250,000.

At a London auction
in 2004 it sold
for a hammer price
of GBP 130,000.
A bargain price for the purchaser.

the painting is worth
over 10 times
in excess of
GBP 1.5million.

Another example of where
econometrics proved useful
spotting undervalued art,
is with another Modern British artist:

Augustus John OM RA (1878-1961)

We spotted this fine
portrait of "Clarissa" at
a London auction house
a while ago.

Clarissa was also known
as Beshlie Heron
Two portraits of her
by John are in the
National Gallery of Wales.

Our client paid a bargain GBP 3,500.
Today she is insured for
GBP 188,000

Augustus John OM RA (1878-1961)
"Clarissa" Oil on Canvas

Investment Advisory

There have been two
art market recessions
in the early 1990's
and in 2008
when prices fell

Uninformed buying
has seen art sectors
rise and fall
sharply in value,
due to investors
spending large sums
on mediocre paintings
by famous names.

An art index takes a
general reading of the art market.

from general to SPECIFIC.

We go across
art sectors, schools and artists.

We source and negotiate
the sale or purchase
of a SPECIFIC artwork.

Fine Art Search & Acquisition

The acquisition of the
highest quality
master works is
an art in itself.

Often these works of art
are never publically
offered for sale.

Top quality art
is an international currency
and investment, immune from local
market and economic conditions.

Strong art investment
returns show low
negative correlation to
weak property, equity markets,
making art a hedge investment,
if you are advised correctly.

Museum quality
works of art
never go bankrupt
unlike banks and companies

Augustus Edwin John OM., R.A. (1878-1961)
"Romilly in Arthur's arms reaches out to touch
the standing horse ridden by a young lad,
Dorelia seated centre holding her turban looking
at the deceased Ida Nettleship standing on the right"
Circa April-July 1909. Pen and Ink wash.

In April 1909, Augustus had
assembled at Effingham a
compliment of six horses,
two vans, one cart, six children,
Arthur- a disastrous groom,
a stray boy,
a broken-down wagon,
Dorelia and her
younger sister Edie.

The convoy moved off
to Epsom, Cambridge
and Norwich by July 1909.

Augustus had a famous fist fight
with Arthur
(in the cap)
given the
groom's bad attitude
to leaving Cambridge.

Augustus later fired him
after the horses
had begun to die off.

In this unusually large
and rare drawing,
Augustus drew a fantasy of
a harmonious family group
with Ida and Dorelia.

Ida died tragically in March 1907

The figure is not
a portrait of Ida but is
John's recollection of her
which explains its
lack of liveliness.

In 1908, John painted a large oil
of a family group comprising
Ida, Dorelia and children
which now hangs in
the Dublin City Gallery.

Family Group (1908) by Augustus John
Dublin City Art Gallery

Dorelia McNeill (1908) by Augustus John
Tate Britain.

A very large pair of sancai glazed pottery figures of Earth Spirits (qitou), Tang Dynasty

Museum Quality Art Investors & Finance Experts

We have pathways to
museum quality
works of art and antiques
from exceptional sources.

Send us your wish list and investment requirements
Old Masters to Modern Masters.

If you prefer to
deal privately
at lower cost
to maximise
your returns,
contact us

We deal with
museum quality
fine art & antiques
at excellent prices
without the public glare
of the auction room.

The world of art and antiques is full of questions.

It is difficult without years
of expert knowledge
and practical experience
for the enthusiast
to make the right decision

We make your choice
a wise one.

We can advise or source
works of art and antiques
Worthy of the connoisseur.
We are your partners in excellence.

Mick Rooney R.A. has had many solo and joint
exhibitions in the UK , Europe and the USA.

His work is in
many public collections
throughout the world
HM Queen Elizabeth II,
The Financial Times...

Mick has work in private collections
Sir Paul McCartney, Michael Mann, Paul Theroux.

He was elected Royal Academician
in 1991 and in 2001
was elected to the
Royal Society of Painters
and Printmakers

We transform the latest art market research
into top performing art investments

Our focus is to offer
outstanding value and service.

Our services improve decision-making,
reduce risk and give our
clients a competitive advantage.

Buying & Selling Art Wisely

Over the years
increased levels of
capital and competition
have energized
the global art market.

Uninformed buying,
inflationary excesses
of the late 1980's
propelled art prices
to volatile levels.

We refer to
the art market
when in reality
there are art markets
offering their own blend
of risk and reward.

Today art is more liquid
with financial engineering
such as art loans,
auction sale advances
and auction price guarantees.

There are many who
would like to be
involved with art
but find the cost, risk
and learning curve
barriers to entry.

Even the most seasoned collector requires advice.

Owning art gives
great pleasure
combined with
potential financial

is the art market's most
precious commodity

This can be achieved through making
art more widely
accessible and understood.

Art Market Solutions

We give objective,
impartial advice
No conflict of interest.

We have entire freedom
to consider all options
then adopt the right plan
of action for you.

We handle a
wide range of art:

Contemporary art,
Modern British art,
Impressionist art,
Modern art,
Old Master Paintings,
Chinese works of art,
English & French furniture,
Vintage & Rare Guitars
and Antiques

We advise on the
optimal amount
to bid at auction

We can act as agents
if you wish confidentality.

You do not
overpay or undersell
art at auction
+ private sources

Roger is also an expert
in Vintage & Rare Guitars
originally for Christie's

He has dealt with guitars
once owned by
Kurt Cobain of Nirvana
& Keith Richards of
the Rolling Stones

As a session musician,
Roger plays hard rock + jazz
through Marshall amplification

Roger has dealt with LS Lowry
paintings once owned by
Sir Elton John,
the pop music superstar.

Gibson 1959 Les Paul Standard
ex Keith Richards of
The Rolling Stones
valued by Roger

We are the Art Econometric Valuation,
Forecasting, Investment Advisory
for Fine
and Decorative Art

We arrange
financial loans
using art as collateral,

auction sale advances
and art price auction guarantees.

We offer a high level of personal service
and attention to detail.

We strongly advise
buying expensive
original art ONLINE

only after an
PhD Inspection
and survey
by us

Our mission is
the provision of
innovative art market solutions

Please do not hesitate to contact us.
Email or telephone us to learn more

Please contact for further assistance.
Roger Stiles

+44 (0)207 293 0320

+ 44 (0)777 648 6390

Art Market Solutions