All posts tagged Art Collecting


“He needs to regain the trust of the marketplace,” said Jeff B. Rabin, a co-founder of Artvest Partners, an art investment advisory firm. “It seems the catalog is one measure he could perhaps take to start to rectify some of the ill feeling out in the marketplace.”


For one recent example, look at Damien Hirst, says Jeff Rabin, principal and co-founder of Artvest Partners…In September 2008, Sotheby’s held a much-ballyhooed sale of the artist’s work, with prices ranging as high as $18.6 million. But the market for Mr. Hirst’s work has cooled, and those who bought at the sale “would have, on […]

Fox Business

Because art comes with so many investment risks, most likely you’ll need specific advice from an expert. “Investing in art is much more complicated than people realize,” Rabin says. “Just because you’re talented in other areas of investing doesn’t mean you’ll excel in art.”


Hirst’s naysayers doubt that. They trace his fall to a $200 million auction staged in 2008, on the day Lehman Brothers collapsed. Hirst sold hundreds of works directly to bidders, defying the custom of restricting supply. “Hirst screwed with his market, and it came back to bite him,” says Michael Plummer, principal of the investment advisory firm Artvest Partners. “He broke the economic rules of the industry.”


An untested company helmed by alittle-known art dealer might have trouble getting traction in the reputation-obsessed art world, advisors suggest. “In theory, it sounds like agood idea. But how can they guarantee the property owner comfort?” asks Jeff Rabin, co-founder of art investment firm Artvest Partners. “I don’t know what they own or the scope of their guarantees. But if all their clients try to cash in at once, they might be forced to go into bankruptcy and liquidate. And if that happens, what happens to all the people they guaranteed?”

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