To assemble a collection does not mean to invest big sums of money
The new collector must bear in mind that a work of art, in addition to being a decorative, elected object, allows you to establish a permanent communication and if he decides to collect debit to be assembling the works that he likes, to the margin of his quotation on the market. That way mistake or error will never take place. As the big collector Lázaro Galdiano was saying: ” they will be able to have cheated Me in the price of the things, but as for the beauty to the taste, impossibly. I have always bought what I have liked ”.
To assemble a collection does not mean big sums of money, but the decision to shape it following the rules of a premeditated script, or, to choose according to the taste until it takes proper form. From the point of view of the profitability to collect art is a reliable investment, since it generates profitability and is amortized by the time.
To collect can turn into a new meaning of life. To be connected by the art is to belong to the history and the culture, it is a reflection and testimony. It is necessary to understand it like a game in the pursuit of the artists to whom one has bet and trusted. The look trains from the knowledge, the interest and the experience. In addition to our preferences and intuition, a good advice is important orientador.
And, finally, to bear much in mind that it is not possible to be a collector of everything, because in this case an important collection will never be had will not even be learned. An authentic collector must never fall down in the indiscriminate diversification.
Seven tragedies in my collector's life
One day I had to separate of a wonderful Delaunay of 1912, called Disks, which he had bought in Grenoble when he fled of Paris before the threat of the Germans. That picture ended in the Modern Art museum. His loss was one of seven tragedies of my collector's life.
The second one was my stupidity after there allowed to escape the opportunity to buy one She looked in London, Terre Laboureé, in 1939, for 1.500 dollars. If now it was in sale it would cost more than 50.000.
The third tragedy was her to lose a Kandinski of 1936, called Domina Curve. I sold it in New York during the war, because I paid attention of the comments of some people who was saying that it was a fascist picture. With big pain, I saw that picture again in an exhibition in Rome included in the collection of my uncle.
The fourth one was that of not buying The Pęche de Nuit Antibés de Picasso, because he had not liquidity and I did not have the intelligence to sell a part of my capital, as my friend and financial adviser Bernard Reids advised me when they offered me the picture in 1950; also this picture is now in the Modern Art museum.
The fifth one was that of having to sell a sculpture of Henri Laurens and a splendid watercolor of Klee to pay the ticket of Bellie van Doesbulg to New York.
The sixth one was the theft in Art of This Century of the last Klee that I had left, except two.
But the worst error was of giving eighteen Pollock pictures although I console myself thinking about the big luck that I had of being able to join my magnificent collection in an epoch in which the prices were still normal, before the world of the art was turning on an investments market.
"A life for the art". Confessions of a woman that it loved to the art and to the artists.
Barcelona, 1990. Trad. Clara Gabarrocas
DECALOGUE OF THE COLLECTOR
1. To have space. It is something essential. It is not normal to collect hand stairs if one lives in a small apartment. Dá the collectors' case that there have monopolized so many pieces that him do not fit already at home. Then, they have decided to open shop to the public. This way, they fulfill his love helping to increase the collections of others.
2. To be provided with economic means. The love of the collector must agree with the available economic potential. The collecting takes possession of such form of the person, that all the efforts are small when it is a question of obtaining the long-awaited piece. In any case it is always a question of a very profitable investment.
3. To know about the topic. From a beginning, it is convenient to know something about the topic to avoid errors and tricks as the collection increases the collector turns into an authentic expert of the elected matter.
4. To research. As soon as the class of collecting was selected, it will be necessary to read everything relating on the topic and to ask very much the understood ones, what will be a way of fulfilling the bibliographical lack, which on the topic, dá in our country.
5. To see very much. It is interesting to be present at the fairs and exhibitions that the professionals realize to the long of the year and to visit shops and galleries. A good collector must frequent, be interested by his pieces, ask, attend and be present at auctions to know first hand the prices in which the pieces are finished off.
6. To specialize. It is not possible to be a collector of everything, because in this case an important collection will never be had it nor will be learned. An authentic collector must never fall down in the indiscriminate diversification.
7. To select. Although the collector has specialized in a certain segment of the Fine arts, it will have to select carefully the pieces and choose those that for his beauty, oddness or scarcity deserve to be part of his collection.
8. That is a work of art. Namely an individualized work of creation realized with esthetic intention. The individual concept has a double valor:haber been realized as only one person and to be the only work. Nowadays teams of art exist that supported in reproduction skills, they realize serial work. The important and definitive thing is the artistic premeditation of the work.
9. To be part of some association or collectors' club. In our country it is complicated due to his scarce number although some of recent creation exist. Major satisfaction does not exist for a collector to be able to be enjoyed and share discoveries and advances of his coreligionists.
10. And especially, to collect what guste.De this way will never produce mistake or error to itself. As the big collector Lázaro Galdiano was saying, that it names the museum that lodges his fantastic collection: ” they will be able to have cheated Me in the price of the things, but as for the beauty to the taste, impossibly. I have always bought what I have liked ”.
RULES TO BE CONTINUED FOR A GUESSED RIGHT INVESTMENT
for Jennifer Hill
The interest in the art since investment is in rise, but there exists a series of factors to think in addition to what to buy. These go from the audit of due buy and tax considerations to the insurance and the maintenance. The investors otherwise might meet a work of art without value, before legal actions of a previous owner or an enormous tax account.
"The people often refuse to treat the buy of a painting as they would treat the acquisition of any other important good," there says Pierre Valentin, the director of the team of arts and cultural goods of the legal signature Withers.
"It would be unusual that an individual spends a million pounds sterling in a property without appealing first independent experts, to verify the price and the viability of the investment," there adds Valentin, who for six years was the European adviser of the house of auctions Sotheby's. Nevertheless many people invest in art for the first time without first making sure that his history, his seller and his value should have been verified.
So here there is our guide of what is recommended and is not recommended to invest in art:
- It is recommended to look for potential investments both in the houses of auctions, and of private merchants. If it chooses an individual, make sure that should belong to a professional association.
- It is recommended to check the origin: verify the origin of the painting before buying it. Do not trust in a house of auctions or intermediary to do this.
- It is recommended to verify the seller. Do not be afraid to rise questions on the seller as on the same painting before realizing the acquisition.
- It is not recommended to invest in stolen copies. Check the databases of stolen works, like Art Loss Register in www.artloss.com for making sure that the potential buys have not been removed.
- One is recommended to be careful with the works product of plundering of war. Many art pieces were stolen during the First one, the Second one and other world wars. Realize the pertinent inquiries.
- it is recommended to be careful with the art exported illegally. Such works might turn out to be difficult to resell and another countries might try to recover them. You might be at the end of a legal action. Request to see the exports licenses before buying.
- It is recommended to take advice for independent someone. As with any big acquisition, verify the value of the painting by means of an independent expert.
- It is not recommended to forget the insurance. Make sure that understands exactly when the risks happen from the seller to the buyer and having the insurance adapted in validity from this moment.
- Make sure that his investment should be preserved and supported appropriately to prevent from losing value: "As with the gold, it is an investment that can find it hard to one to preserve," there says Christine Ross, director of planning of SG Hambros Private Bank.
It is not recommended to spend for high the tax considerations. He must not report to the treasury on the buy, unless it should be inscribed in the English tax system. In this case, he must decide if it will treat to the good as a business or like private assets.
The tax on the capital gains might be received at the moment of selling, although they will not receive utilities from themselves unless the collected before to the costs of sale, overcomes 6.000 pounds. In this case, the quantity on which he receives the tax from himself does not overcome five thirds of the surplus. If the work was part of a series they will apply special rules.
Ronnie Ludwig, an associate of the team of capital deprived of the public book-keeper Saffery Champness, says: "The private investors turn out to be more and more attracted by alternative goods like the fine arts and the antiquities, but few ones consider the fiscal responsibility that him can fit to his investments. "There might be tax consequences if the article is sold, donated or left like part of a patrimony after dead person and the investors avezados they should familiarize themselves with the tributary rules of his country before doing his investments," he adds. [Reuters A.L.]