When Paul Lester decided to elevate the experience of selling luxury real estate in Los Angeles, he came up with a unique approach. By hosting a Beverly Hills property viewing that doubled as an art opening, he not only sold individual artworks but also closed the deal on the property itself at a premium price. According to Lester, the success of the sales was attributed to the overall elevated experience that the combination of luxury real estate and high-end art offered to potential buyers. This innovative approach has since become a defining feature of Lester’s career, emphasizing the significance of incorporating contemporary art in luxury properties as a way to differentiate and add value to the listings.
Lester’s partnership with The Agency has seen him spearheading the sale of new-build luxury homes in Beverly Hills, designed by esteemed architecture firm Olson Kundig. The homes, known as The Houses at 8899 Beverly, boast a starting price of around $5 million, offering prospective buyers an opportunity to acquire a property with a curated collection of art and designer furniture. What sets these properties apart is the seamless integration of art pieces that are not just temporary staging items but are also available for purchase, adding a layer of exclusivity and sophistication to the overall sales proposition.
One of the key challenges when selecting artwork for luxury properties is ensuring that the pieces complement the interiors seamlessly. David Knowles, founder of art consultancy Artelier, stresses the importance of capturing a unique character while appealing to a wide audience. By commissioning artworks that resonate with the local area and tailoring pieces to fit specific dimensions, the artwork becomes an integral part of the property rather than just an accessory. Lester and his team carefully consider whether the art should align with or contrast the home’s design, sometimes even commissioning pieces to ensure a perfect fit.
Artelier has been instrumental in curating artwork for prestigious addresses worldwide, ranging from London’s One Hyde Park to Miami’s Eighty Seven Park. Acting as a bridge between artists and property developers, Artelier ensures that clients receive exceptional pieces that enhance the luxury living experience. By helping artists understand the luxury aspect of their work and educating clients on the unique qualities of bespoke art, Artelier facilitates a seamless integration of art into the real estate market.
For Lester, the art collection in The Houses at 8899 Beverly presents an additional opportunity for marketing. By highlighting the artists and their works, Lester enhances the storytelling aspect of the properties, adding value beyond the physical structure. While some properties may boast artwork worth more than the property itself, the art becomes a focal point for potential buyers, elevating the overall experience of viewing and purchasing luxury real estate.
In the world of luxury real estate, the integration of art has become a powerful tool for enhancing the value and appeal of properties. By carefully selecting and curating artworks that resonate with buyers, real estate professionals like Paul Lester and David Knowles have demonstrated the transformative impact of art in the sales process. As the demand for turnkey properties continues to rise, the role of art in luxury real estate sales is set to become increasingly prominent, offering buyers a unique and sophisticated lifestyle experience that goes beyond the physical structure of the property.