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An auction insider (art) speaks about the art market, and auction results

  1. kidkimura Ω 2

    kidkimura May 16, 2016

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    Apropos of the recent spate of watch auctions, thought this might be interesting to watch folks and auction aficionados alike:

    http://www.nytimes.com/2016/05/16/arts/design/a-collectors-eye-view-of-the-auctions.html

     
  2. bill5959

    bill5959 May 16, 2016

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    I still think a Rolex called Paul Newan will always be worth a million dollars or more.
     
  3. gatorcpa Ω 2

    gatorcpa ΩF InvestiGator Staff Member May 16, 2016

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    Maybe, but to get that from me, Mr. Newman needs to deliver it personally and take it off his wrist.

    Not gonna happen,
    gatorcpa
     
  4. MSNWatch Ω 2

    MSNWatch Vintage Omega Aficionado Staff Member May 16, 2016

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  5. citizenrich

    citizenrich Metal Mixer! May 17, 2016

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    Hedge fund guys and real estate speculators have not only turned artwork and collectibles into alternative investments, they've turned art into actual currency.

    I don't want to start wonking too much but in the simplest terms: I buy a Basquiat for 25 million and I sell it for 50 million, I owe a bunch of taxes on 25 million profit.

    But,

    If that Basquiat is aquired in an IP vehicle, I can still display it on an actual wall of my Hamptons house (to show off!!!) while playing around with distribution walls and carried interest.
     
    Edited May 17, 2016
    ICONO likes this.
  6. gatorcpa Ω 2

    gatorcpa ΩF InvestiGator Staff Member May 17, 2016

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    It's even backed by the government! If I take that painting, stick it on my wall for 30 years or so, then donate it to a museum when I die, I'll get a fair market value deduction on my estate tax return. Under your example, my heirs will get my original investment back in cash with no further tax.

    And probably have a hall named after me at the museum.
    gatorcpa
     
    citizenrich likes this.