All posts tagged Fall 2012

bloomberg

“It’s not unheard of in the auction business, when clients run into cash problems, for auction houses to take property in lieu of payment,” said Michael Plummer, the cofounder of Artvest, a New York-based firm that provides investment advice for the art market and a former chief operating officer of the financial-services unit at auction house Christie’s.

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Artvest provides an overview of the current Art Fund landscape.

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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.

AIC

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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