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HOT COMMODITY: Art has become another place to park your money.
For the full article visit: Globe and Mail April 24, 2008
Art banking is just one of a growing number of nontraditional wealth-management services for the ultra rich. Art banking tops the list of those services, as art is the leading investment-of-passion among the world's ultrahigh-net-worth individuals. The value of sales at the world's auction houses has tripled in the past five years - a trend reflected in the Canadian art market.
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Credit crunch fuels investor thirst for art, wine.
Sat Mar 1, 2008 10:13pm EST, By Clara Ferreira-Marques
Downturns typically mean a slowdown in investments that are seen as discretionary, but industry watchers say the credit crunch has left the appeal of so-called "investments of passion" art, wine and collectibles largely untarnished.
"The art market did not suffer repercussions when the Internet bubble burst and it is doing extremely well today, even after the credit crunch," Robert Tomei, CEO of Italian fund manager Advanced Capital, who is launching his third art fund. "If you look at our portfolio, losses have never exceeded 10 percent including costs, and this is because of the intrinsic value of art. Art doesn't burn cash, it isn't an Internet company," For the full article visit: (Reuters - London)
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Why Collect
The beauty and uniqueness of art as an asset class is that it gives individuals the opportunity of gaining pleasure and excitement from its ownership in three distinct ways.
1. The first beauty of art is the obvious one of emotional appeal obtained from the visual image of the object.
2. The second beauty of art is the enjoyment most individuals obtain from the process of its acquisition.
3. The third beauty of art is its longevity and financial performance.
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Investment yields: 9% - 10%
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Annual Returns of 10.9% higher than S&P
Mei Moses Fine Art Index. (Registration is free.).
Most recent update shows, over the last 50 years, stocks (as represented by the S&P 500) returned 10.9 percent annually, while the art index returned 10.5 percent per annum. And in the five years between 2001 and 2005, art trounced stocks.
Parkdale Gallery can help you invest wisely. We know about the value of art
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Slatemoneybox: Commentary
Click the link above for the full article
For the last several years, two professors at New York University's Stern School of Business, Michael Moses and Jiangping Mei, have been compiling data that allows them to track the long-term performance of fine art.
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