If you
have become a CNN, FOX, or MSNBC news junkie, you are probably fed up with the
gloom and doom and speculation from all these so-called financial experts.
No one
in the MEDIA is talking about the ART MARKET? The government does not advertise
the
legal tax benefits for collectors, and there is hardly any awareness of ART
LAWS.
Up
until September 2008, the arts were still breaking world records!
At
a Sotheby’s Auction in London, a living artist, DAMIEN HIRST, work sold for $100
million dollars! Many art consultants, including myself, would disagree whether
this was ART, as opposed to a promotional stunt, but the fact remains, that some
Russian collector, socked
all this money into a single work. Like starting his own ART BANK!
Many
emerging artists, galleries and dealers are feeling the crunch in America, while
European and Middle Eastern artists are raking it in.
What
are we missing here? Education and consultation!
ART is
a non-federally controlled commodity and nobody really knows how much cash
really flows through this medium. The industry loves to pretend that there are
many mysteries to understanding the secrets of investing in this market. It has
longed been believed that investing in the world of art and profiting, is a
luxury reserved for the wealthy. Not anymore, in the 21st Century!
The
truth is that the rich and famous may be the ones that understand the market and
know how to buy, because they have art advisors, and take the time to get
educated.
In Las
Vegas, the emphasis has been on aesthetics, and Décor! That’s nice, if you
listen to a decorator who is selling cheap wall coverings to match the
couch…Where’s the VALUE, when you move or re-decorate?
VALUE
and what constitutes capital appreciation is really what counts.
It’s
much smarter to be eclectic and invest in artworks that has an investment-grade
track record and can be resold for a profit, or used as a hedge against
inflation.
Luxury
vs. building a collection is the issue here. During hard financial times, when
people are afraid to keep money in the banks, stock market, and other
commodities, traditionally, have turned to the art market.
“ HANG your
$$$ on the WALL!” At least you can appreciate it while it is appreciating for
you. Certain works of art will always be worth what you pay for them, in bad
times, and will go up in value in good times. At least, you have control of your
investment. Resales, trade and bartering of artworks are now more readily
conducted on the open market. Acquiring proper credentials, evaluations and
appraisals is a major factor to identifying the value of a collectible. 50% of
the global art sales have been conducted in New York, but are Americans buying?
The
economic impact that the ARTS have on a nation is so important. Supporting
American art production and keeping the cash flowing into our country is
crucial. This industry has exploded in production, also, providing jobs. It has
become the rising middle class, of creative laborers, manufacturing very salable
products. The economic underground is thriving in inspiration and culture, and
NO recession will stop the movement.
Anyone
can take part and become rich in art, if you look at a collection as hard,
tangible assets. Unlike real estate, it’s also portable. Here’s the best part;
you can actually start a collection for under $3,000 dollars in today’s
marketplace, with the proper guidance.
Acquiring art that has inherent value with a built in profit is unraveled in my
upcoming seminars.
“ The ART of
Acquiring ART 4 Profit$ ”
For more information or
consultation contact
ARTV123@gmail.com
www.Artvawards.com 1-702-242-8811.
Advisory: tax
benefits, estate planning, donating, and evaluations, certified appraisals,
buying and selling, since 1983!
Have a creative week!
Audrey Roberts
