Even for a seasoned business executive, the complex world of art collecting can feel as if one is entering a new dimension entirely. Similar to the corporate world, the world of collecting is one which is driven by passion, curiosity, and a desire to create. Isaac Sultan Cohen, who made his career in the shipping and logistics industry and who is today based in Miami, lives on the seams of both worlds. He entered the world of collecting when he unexpectedly inherited a collection of art from his uncle, a prolific collector, who passing on his legacy to Isaac Sultan Cohen, would shape both his professional life and dedication to collecting for years to come.
Isaac Sultan Cohen reflects on how he initially began this journey, which has lasted more than two decades. “When I inherited my uncle’s collection it wasn’t vast, but it was curated with great intention. When it became mine, I felt a responsibility to continue to honour his own dedication to collecting by both expanding it with my own tastes as well as venturing into other forms of collecting, including watches.” What really sparked his passion though, and drove him to continue to expand his collection, was understanding its deeper significance, as well as the opportunity which collecting provides to own a piece of history.
Starting to collect without professional knowledge of art was not easy. Isaac Sultan Cohen draws an interesting comparison between the early stages of his collecting experience to when he began his professional career. “In collecting, similar to business, I had to learn to speak the language—a very difficult language to learn because the language of art is not purely a verbal one. It requires that one understand the history, the nuances, and the market dynamics of this entirely new world.” After many years of both collecting and being an executive under his belt, what was originally two separate worlds —business and art — have quickly become conjoined.
Although Isaac Sultan Cohen makes it clear that he collects art purely for the love of art, he nevertheless sees clear parallels between art collecting and business. “I’ll give you an example. When collecting art, you learn a lot about both value and timing. Shipping, and investing in the stock market, which I do as well, requires a similar skill-set. You cannot be successful at both unless you are able to anticipate market trends and be a long-term strategic thinker. Importantly, in both of these industries, you don’t see immediate financial returns but need to have patience to see returns over time. Different though, is the question of value. For me, the value in art is purely emotional and not monetary. I don’t see myself as an investor, but rather an art collector. But the emotional value of a piece of art, just like the financial value of a business venture or a stock, will grow with time. You just need to be patient”.
Collecting also taught Isaac Sultan Cohen an important lesson in strategy. “Emotion must always be tempered with logic”, he says. “When I’m bidding on a rare watch or a masterpiece as well as closing a deal, I always step back and evaluate. No matter how much pressure others try to place, I always pace myself and do not rush into decisions. That’s critical when you’re collecting and that’s critical when you’re leading a company.”
Reflecting on what may be the single most important lesson he has gained from collecting, Isaac Sultan Cohen says that it is understanding that not everything in life is about immediate return on investment. “When executing a transaction, we are conditioned to think only in terms of profit and loss. When you spend time in the world of art you are reminded that there are things in life which are simply about passion. It’s a sense of pure, intangible joy that I simply don’t get anywhere else.”
For many a CEO, striking a balance between work and personal passions is impossible, but Isaac Sultan Cohen insists that in order to be successful in the corporate world, executives need to find time for both. “One of the saddest things I see is the way in which people get consumed by the demands of running a company. They never seem to be able to find the time needed to dedicate themselves to something they love. It doesn’t need to be collecting! Whatever it is that makes you smile, you will know because its only that which helps reset your mind.” For those executives that are purely oriented towards their business pursuits, Isaac Sultan Cohen explains that the fresh perspectives and skills that his own passions give him also translate back into work and provide him with many a tool which he regularly applies in his day-to-day.
Isaac Sultan Cohen reminds executives about the need to find meaning that is beyond the surface. “Executives live in a world where everything is measured by returns. In our personal as in our professional lives, never believe that everything can or should be measured by immediate profitability. It’s about passion first and enriching our lives outside the boardroom”.
For more on the latest in art and culture reads, click here.
