All posts tagged Art Investing

ArtInfo

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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“From an investment standpoint, fine art-contemporary, impressionist and modern art-is a deep market. It’s globally traded and liquid,” says Michael Plummer, co-founder of New York-based Artvest Partners, which advises wealthy families and individuals on investing in fine art.

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UBS recently assembled a panel of professionals from the art and investing worlds to wax philosophic on art as an investment. Indeed, it’s difficult to combine the two modes of thinking when “art is illiquid, opaque, and unregulated,” said Jeff Rabin, cofounder of investment firm Artvest Partners, which specializes in the art market. “Should you need to pay a bill and you have a Picasso portrait of Marie-Thérèse on the wall, the likelihood is you’re not going to be able to flip that right away for the price you want to achieve.”

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On Wednesday night in New York, at a UBS discussion on fine art and investments, moderator, art adviser and dealer Jason Rulnick asked panelists whether they thought art was an asset or an investment. Pretty much everyone agreed that it was an asset, but were a lot more guarded about its investment potential.

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Lively and controversial panel discussion hosted by the Art Investment Council on whether or not the art market is in a bubble. Co-founded by Artvest in 2011, Art Investment Council is a non-profit organization dedicated to promoting a greater understanding of art as an asset class by encouraging transparency, best practices, education and consistency of terminology and reporting.

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