Better than bank, save your money by buying Art ?! (fund, margin, trading)
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[SIZE=3]Hello, I came to you to talk about Art investment. [/SIZE]
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[SIZE=3]I 'm actually buying every month one old 19th Century painting, usually for less than 1,000.00 EUR. (luckily I'm living in France and I've a very sympathic and interesting seller)[/SIZE]
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I think that Art could be a good alternative investment, especially because our economy isn't at it best state.
Old paintings and drawings (19th Century and before) are, I think, all the time valuable, doesn't matter if it's the recession or not, isn't it?
Also, new super nation like China, Russia, Bresil, india etc. will be, and are, interested by Art.
So, what do you think about this strategy ? Is it a good idea ? Am I alone looking for this kind of alternative investment ? Better than bank, in what would you save your money?
Thanks for your answers and sorry for my poor english, I'm francophone. But it's good for me to write in english !
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Hello, I came to you to talk about Art investment.
So, what do you think about this strategy ? of marginal utility for all but perhaps 1%
Is it a good idea ? for the other 99%? No
Am I alone looking for this kind of alternative investment ? mostly
Better than bank...? No
For those lucky enough to have such substantial wealth...
that they already have every other type and possibility of investment exhausted three times over...
and yet still have a pile of cash begging for a use...
art is still in the maybe category.
I'm still thinking that you've a better chance, as a citizen, to make money buying art in France and selling in NY, London or Hong kong (or in the next 5 years to a Russian amator), than invest in the dow jones...
I don't think that's for those lucky enough to have such substantial wealth.
Also I would compare Art and real Estate, 10 years ago for sure, for many people in US it would have been a better idea to invest 200K$ in Old Art, than in real estate...
But still my thought....
Of course as we know, invested in only one type of investment isn't a great idea.
I'm still thinking that you've a better chance, as a citizen,
to make money buying art in France and selling in NY, London or Hong kong...
You are now describing the business of trading in artwork...
which is considerably different than investing in the pieces.
If you happen to be educated in the work and have contacts in the auction and gallery businesses...
it is still highly speculative and not something many outside that world could enter into.
There is a lot of unsold art, and art galleries all over the country are closing, because there are so few people inclined to buy art. An artist friend of mine just told me a couple days ago that about half the galleries in Northern New Mexico (Taos and Santa Fe) have closed up shop.
It's a buyer's market, but that doesn't necessarily mean that art is a good investment---only that prices are currently very depressed. If you have discretionary funds you are willing to invest speculatively, there is a market worth considering. But there is no FDIC to bail you out. However, there is always insurance fraud, if you want to go that route---you can probably get some inflated appraisals.
There is a lot of unsold art, and art galleries all over the country are closing, because there are so few people inclined to buy art. An artist friend of mine just told me a couple days ago that about half the galleries in Northern New Mexico (Taos and Santa Fe) have closed up shop.
Quote:
Originally Posted by article
Walters (Art Museum -Baltimore) receives artwork, promise of $4 million bequest from New Mexico collector
The donation, from a collection Santa Fe resident John Bourne began in 1940, includes 70 pieces of art given to the museum in 2009, with an additional gift of some 230 pieces promised. In addition, Bourne, 85, has earmarked a $4 million bequest from his estate to endow a center for the study, conservation, interpretation and display of the arts of the ancient Americas.
I understand, that's true.
But in our economy, with this terrible recession, I don't feel good if my money sleep on the bank, or in a cofee shop business, or in the dow jones...
Maybe I'm wrong, but I think that if this is just the begening of the end for Europe and USA, Art will be, like our science and our grass, our ONLY richness
This sounds like a really ridiculous idea. How liquid do you think the market for expensive art is? When you want to sell your artwork, how easy do you think it will be to find a person who will be willing and able to buy it from you for the price you think its worth?
Put $100k in a bank account and the FDIC insures it for free.
Buy $100k in art and you need a place to store it, and pay for
insurance on it.
The "value" of art is totally subjective. It is only worth what someone
else is willing to pay for it based on their own subjective valuation.
When you put your money in a bank and take it out, you deal with a teller and she doesn't charge you extra for deposits and withdrawals.
Buy and sell art and you are dealing with appraisers, dealers and other
professionals within the industry.
And I would rather frame and look at bank account and investment statements than a picture in a frame.
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