This program will consist of the two panels addressing the basics of where the worlds of art and finance overlap. During the first panel, the panelists will discuss Art Investment Funds, from their formation to investment strategies in the global market. The second panel will address structuring, documenting, insuring and other related issues arising in the context of lending transactions where art is utilized as collateral.
Incrementally Positive Takes from Citi’s Proprietary 5/9/12 Call on Auction Industry with Artvest LLC — (1) Art market has returned to its pre-crisis size at $64.9mm in 2011 vs. $62-$66 in 2007-2008 with strong potential to increase again in 2012; (2) Sotheby’s has become the most dominant player in NY for Impressionist/Modern; (3) China now the world’s largest consumer of art at 30% vs. US 29%.
With the long-termed, worldwide trend of increasing wealth, alongside the growth in knowledge about Art market, a much larger community has started to be interested in collecting and/or investing in Art. Michael Plummer participates in a panel discussion at Art Basel Miami Beach 2011 on this topic.
Artvest Principals will discuss art in the context of your portfolio, your financial plan and your estate plan on February 8, 2012.