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In her recent Vanity Fair article, journalist Alexandra Peers discusses Qatar’s purchase of Cézanne’s Card Players, one of only five in existence and the only one not already in a major museum. The price was more than $250 million, which is now the record for the highest amount ever paid for a work of art.

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While overall she does an excellent job of addressing the critique posted by Salmon, we purport that art as an investment, although certainly not for many people, provides tremendous opportunity for High Net Worth and Ultra High Net Worth Individuals over the long term. Not only would the individual own a stellar collection and derive the emotional and visual benefits of living with great works, they would be diversifying their assets away from traditional financial instruments and own a collection that has historically performed well in times of inflation and economic uncertainty. If managed properly and with expert advice, an allocation of assets to art will perform well over time. Many of the great and highly valued collections of today were acquired by insightful and well advised collectors who were in most instances not the super wealthy.

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As Ms. Walton considers the debut of the museum to represent the beginning of the institution’s collecting, Artvest is eager to follow the cultural implications as important works of American Art make their way to Arkansas.

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Last week’s Contemporary Art auctions in London (Christie’s, Sotheby’s & Phillips) included 25 works by Damien Hirst, the largest number to come to market since his single artist sale at Sotheby’s London on September 15, 2008.

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With the conclusion of the Jewelry and Watch sales today, Sotheby’s wrapped up another successful round of its twice yearly sales in Hong Kong, this time with two second acts — Part II of the Ullens Collection of Contemporary Asian Art and Part II of the Meiyintang Collection of Important Imperial Chinese Porcelains.

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