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Bigna Pfenninger

Bigna Pfenninger

Secondary art market authority advising collectors on private sales and structures

Biography

Bigna Pfenninger is a Zurich-based art adviser who works with collectors on the secondary art market, with a particular focus on private sales and the structures through which significant works are held and traded. She runs Bigna Pfenninger Art Advisory, a sole proprietorship entered in the Zurich commercial register in August 2018 with art advisory as its stated purpose.

Art advisory in Zurich

Pfenninger's practice is based in central Zurich. The firm operates as her own advisory business, and the commercial register lists her as its owner and sole authorised signatory. On Wealth Office X she was introduced as one of the leading authorities on the secondary art market, advising collectors who operate at the intersection of art, wealth, reputation, influence and power.

She describes her work at the top of the market as quiet, global matchmaking between owners and buyers. Much of this activity takes place away from public auction, and it often involves freeports and holding structures. In her account, the number of the largest trophy works is small, which makes the market thin, private and dependent on relationships. Access to these works depends on knowing who owns them and who might buy, which is the core of her advisory role.

Her view of the market

Pfenninger takes a broad view of what counts as the secondary market. It covers any work that has already had at least one owner, and she argues that this includes living artists, who can and should develop a secondary market long before their work becomes historic.

She also regards patronage as a matter of proximity and ecosystem. She has cited Singapore as an example of a place where the transactional machinery is in place while the wider cultural ecosystem is still being built.

Tokenisation and art finance

Pfenninger is an advocate of transparency, market growth and wider participation in art ownership. She says she tokenised a Picasso in Switzerland in 2021, and she expects tokenisation to become ordinary infrastructure for fractional ownership of high-value works.

On Wealth Office

Pfenninger appeared with fellow adviser Catherine Freeman in the Wealth Office X episode "Who Really Controls The Secondary Art Market?", hosted by Michael Macfarlane. The conversation examined how art acquires legitimacy, why the largest sales happen quietly, and what lending and tokenisation mean for collectors. Pfenninger explained why living artists need a secondary market, described patronage in terms of proximity and ecosystem with Singapore as a case in point, and put the number of the largest trophy works at around 2,500. She discussed her matchmaking work through freeports and holding structures, and responded to a Deloitte and ArtTactic projection that art-secured lending could reach US$42 billion to US$50 billion by 2027 by setting out her expectation that tokenisation will become standard infrastructure for fractional ownership.

On Wealth Office

Who Really Controls The Secondary Art Market?

Two secondary-market advisers explain how art acquires legitimacy, why the largest sales happen quietly, and what lending and tokenisation mean for collectors.

Insights drawing on Pfenninger