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jerryking : fine_arts   12

5 Ways to Value Your Collection, Whether It’s Fine Wine or Shrunken Heads
March 1, 2019 | The New York Times | By Paul Sullivan.

Collectible assets include wine, spirits, coins, trading cards as well as more unusual items, like lighters, belt buckles and even shrunken heads. These collections cost money and time to assemble and certainly have a value to their owners, but can they be considered legitimate investments? That depends on the market.

For many collectors, the only option to buy, sell or even value these assets is through online auction platforms like eBay or enthusiast sites, but for others, their possessions are treated as fine art.......the market for collectibles, which are often valued in the millions of dollars, may not always be so easy to weather. It can experience sudden surges that put desired items out of the reach of true collectors or it can collapse, wiping out the gains speculators thought they had made.

In an economic slowdown, how these investments are treated depends on supply and demand as well as unpredictable forces like fashion and popularity.....Collectibles can be broken into categories determined by provenance, rarity and even a moment in time. Here are five issues to consider when weighing the investment potential of your collection.....
(1) The standouts in the crowd - Leading the pack are high-quality items that have broad name recognition.
(2) High risk, high reward -
(3) Not all collectibles are investments- jewelry is not an investment....because the market is driven too much by changing fashion.
(4) Obscure and difficult to sell - establish the value of esoteric collections by using third-party appraisers. But insurance companies like A.I.G. value these collections by their replacement value, not by the price someone would pay for them.
(5) A market downturn - =hether it’s shrunken heads, 1,000 bottles of wine or sheets of trading cards, a ready buyer may not be available — or may want to pay much less (i.e. a step change in the valuation).
collectibles  collectors  high-risk  howto  obscure  valuations  AIG  auctions  assets  brands  eBay  economic_downturn  esoteric  fine_arts  high-end  high-quality  investing  investments  passions  step_change  unpredictability  wine  whisky  online_auctions 
march 2019 by jerryking
As Iceland shows, the arts can be a valuable business asset for Canada - The Globe and Mail
TODD HIRSCH
As Iceland shows, the arts can be a valuable business asset for Canada Add to ...
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Special to The Globe and Mail

Published Thursday, Mar. 27 2014
Todd_Hirsch  Iceland  art  artists  culture  arts  cultural_institutions  creativity  prosperity  creative_class  funding  fine_arts 
march 2014 by jerryking
The economic imperative for investing in arts and culture
Mar. 27 2013 | The Globe and Mail | TODD HIRSCH.

A better reason why the economy needs a strong cultural scene is that it helps to attract and retain labour. This is especially important for cities trying to draw smart professionals from around the world. The best and brightest workers are global citizens, and if they (or their families) are not pleased with the cultural amenities, they won’t come. Calgary, where I live, is a perfect example: world-class fly fishing and a great rodeo will attract some people, but without fantastic arts and sports amenities, the pool of willing migrants would be shallow....The third reason, however, is the most important. To become the creative, innovative and imaginative citizens that our companies and governments want us to be, Canadians need to willingly expose themselves to new ideas. A vibrant arts and culture community is the easiest way to make this possible.

American neuroscientist Gregory Berns, in the introduction to his 2008 book Iconoclast, wrote: “To see things differently than other people, the most effective solution is to bombard the brain with things it has never encountered before.” Living and travelling abroad is a great way to do this, but for most of us that isn’t a practical reality. Arts and culture on our home turf offer us the chance to “bombard” our brain with new stimulus without leaving town.

The important part, as Dr. Berns puts it, is to concentrate on things your brain has never encountered before. If you’re an opera fan, going to see opera season after season will be enjoyable, but you won’t reap the creative benefits that come from exposure to other things. Maybe you need to skip the next performance of Don Giovanni and take in some indie rock. Or if you’re a hockey nut, turn off the game one night and take in an exhibit of contemporary visual art. You’re not required to enjoy an unfamiliar art or sport (although if you go with an open mind, you’ll be surprised). The point is to purposely take it in, absorb what’s going on, and let your mind be bombarded. It gets the brain’s neurons firing in different ways...We have to stop thinking about arts and culture as simply nice-to-haves. They are just as important as well-maintained roads and bridges. By giving us the chance to stimulate our minds with new ideas and experiences, they give us the opportunity to become more creative. Arts and culture are infrastructure for the mind.
cultural_institutions  art  artists  Calgary  creativity  prosperity  creative_class  funding  fine_arts  value_propositions  mental_dexterity  creative_renewal  Todd_Hirsch  imagination  idea_generation  ideas  iconoclasts  contemporary_art  open_mind  economic_imperatives  the_best_and_brightest 
march 2013 by jerryking
Asher Edelman, the Art World's Gordon Gekko - WSJ.com
JANUARY 29, 2010 | Wall Street Journal | By KELLY CROW. A
former corporate raider is shaking up the market with brash tactics and
big plans as an art financier. After navigating the art world for
decades as a collector, museum director and gallery owner, Mr. Edelman
recently set up his own firm, Art Assured Ltd., to arrange art
investments.

The field of art backing is a financial Wild West these days. When the
recession upended the art market a year ago, a number of traditional
institutions like banks and auction houses pulled back from loans and
other financing deals based on the expected selling prices of fine art.
An aggressive set of boutique lenders and financiers have stepped in to
fill the gap. The most prominent art lenders operate as blue-chip
pawnshops, doling out quick cash to collectors, dealers and artists in
exchange for the right to sell the borrowers' artworks if their loans
aren't repaid.
art  art_finance  art_galleries  investing  fine_arts  high_net_worth  collectors  financiers  boutiques  auctions  banks  pawnbrokers  blue-chips  art_market 
january 2010 by jerryking
The Arts Need Better Arguments - WSJ.com
FEBRUARY 17, 2009, WSJ article by GREG SANDOW.

The arts are going to need a better strategy. And in the end it's going to have to come from art itself, from the benefits art brings, in a world where popular culture -- which has gotten smart and serious -- also helps bring depth and meaning to our lives.

That's the kicker: the popular culture part. Once we figure that out, we can leave our shaky arguments behind and really try to prove we matter.
strategy  funding  fine_arts  value_propositions  contemporary_art  art  artists  economic_stimulus  imagination  creativity  open_mind  ideas  popular_culture  cultural_institutions  prosperity  creative_class 
february 2009 by jerryking
The Boom Is Over. Long Live the Art! - NYTimes.com
February 12, 2009 NYT article By HOLLAND COTTER. The economic
downturn will force a new mindset on the art industry. Make art schools
interdisciplinary, complete with work terms in unorthodox locales (e.g.
prisons, hospitals, etc.). The 21st century will almost certainly see
consciousness-altering changes in digital access to knowledge and in the
shaping of visual culture. What will artists do with this?
artists  artisan_hobbies_&_crafts  innovation  creativity  visual_culture  markets  rethinking  reinvention  fine_arts  interdisciplinary  unconventional_thinking  creative_renewal  21st._century  mindsets  unorthodox  cross-disciplinary  cross-pollination  workplaces 
february 2009 by jerryking
The Art Fair Explosion and Its Fallout - WSJ.com
JUNE 4, 2008 WSJ By ALEXANDRA PEERS cautions on the
proliferation of art fairs when the volume of quality art has more or
less remained standard. A escalation in great amounts of wealth has
created collectors seeking assets to invest in.
scarcity  artists  artisan_hobbies_&_crafts  Basel  debased  fine_arts 
february 2009 by jerryking
Michael Conforti: He's a Museum Leader For These Troubled Times
* JANUARY 27, 2009 WSJ article By LEE ROSENBAUM profiling
Michael Conforti's challenges as president of the Association of Art
Museum Directors (AAMD), as museums nationwide experience challenges
that have led to substantial reductions in programs, exhibitions,
capital projects and staffing -- collateral damage from a global
financial drubbing that walloped museum donors, retail sales and, most
critically, endowments.
fine_arts  leadership  crisis  artists  museums  cultural_institutions  collateral_damage 
january 2009 by jerryking
globeandmail.com - Canada's nouveaux riches bank on art
April 24, 2008 G&M article by David Parkinson on the
resource sector boom creating a class of new art buyers. Wealth managers
are cashing in.
wealth_management  high_net_worth  fine_arts  art  collectors 
january 2009 by jerryking
The Eye of the Met's Director - WSJ.com
JANUARY 10, 2008 article by ERIC GIBSON profiling the retiring
Metropolitan Museum director Philippe de Montebello and his
contributions to the field.
inspiration  profile  museums  cultural_institutions  fine_arts  Philippe_de_Montebello 
january 2009 by jerryking

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