Chasing the Unicorn
Determining Value in Art and Tech
In the fast-paced worlds of tech companies and art auctions, values can appear to skyrocket in a short-period of time. This past May, Picasso’s Women of Algiers (Version O) sold for $179 million — the highest price ever obtained at auction. This painting had sold in 1997 for $31.9 million. In parallel, the tech industry has seen a rise in high-valued companies in recent years. There are over three dozen U.S.-based consumer and enterprise software start-ups valued over $1 billion and growing.
While art and business valuations are often based on quantifiable data, both are complex worlds where larger qualitative considerations matter — like broad market forces and public opinion, as well as a bit of luck.
Join Neon, Bonhams, and Silicon Valley Bank along with technologists, art collectors, academics, venture capitalists, and vintners for an intimate look at value in the tech and art industries, followed by a wine pour and reception. In a discussion moderated by Sophie Lebrecht (Neon), our distinguished panelists, Jon Callaghan (True Ventures) and William O’Reilly (Bonhams), will unravel and demystify the process of how value is determined — with a few tales from the field.
In discussion
William O’Reilly
William O’Reilly joined the Impressionist and Modern Art Department at Bonhams in 2012 as Director of the Americas and Asia, building on a career in the international auction world that started, also at Bonhams, in 1997. William has handled a number of landmark auctions and was responsible for researching and presenting Salvador Dalí’s FruitDalí watercolors, previously unseen in the auction market, which sold for more than $1 million.
In addition to advising private and institutional collectors on acquisitions and sales, William is a frequent auctioneer in fine and decorative art and benefit auctions. This combination gives him a unique perspective on the underpinnings of this dynamic and unusual market.
Prior to joining Bonhams, he spent three years working with alternative investment funds in Europe and Brazil, principally in global macro and equity strategies. He holds the Investment Management Certificate from the CFA Society of the UK, and has a degree in Middle Eastern Studies and Arabic from the University of Cambridge.
Jon Callaghan
Jon Callaghan is a Founding Partner of True Ventures, a Silicon Valley-based venture capital firm that invests in early-stage technology startups. Callaghan founded True in 2005 to fill a gap in the funding market by serving the needs of the boldest early-stage entrepreneurs. In addition to True, Jon founded three startups over the course of his career.
Jon began his venture capital career in 1991 as an associate at Summit Partners and later joined AOL’s Greenhouse, the venture capital arm/incubator for AOL. In 1996, he joined CMGi’s @Ventures group and became Managing Partner of the firm. Before founding True Ventures, Callaghan was a Managing Director at Globespan Capital.
Jon is currently the Chairman of the National Venture Capital Association and received his AB from Dartmouth College and MBA, with Distinction, from Harvard Business School.
Sophie Lebrecht (moderator)
Sophie Lebrecht’s creative approach to entrepreneurship has been recognized by Fast Company, the World Economic Forum, and the National Science Foundation. At Neon, Sophie and her team bring science and automation to the problem of finding engaging images online for media, sports, and marketers.
Sophie received her PhD in Cognitive Science at Brown University in 2011. She continued to pursue her work on the neural basis of visual preference for everyday objects at Carnegie Mellon University and CMU Silicon Valley, eventually transitioning her research into the foundation of Neon, where she is CEO and co-founder.
Event details
Event attendance is by invitation only. Please get in touch with vickers@neon-lab.com for more information.
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