Author Topic: "Art Loans"  (Read 2802 times)

expatartist

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"Art Loans"
« on: September 23, 2015, 01:57:16 AM »
http://www.spearswms.com/blog/eight-questions-to-ask-if-youre-thinking-of-an-art-loan

Have an art collection?  That Picasso at Sothebys a few million beyond your budget? Get a loan on your collection at the low low rate of 9-15%...

jinga nation

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Re: "Art Loans"
« Reply #1 on: September 23, 2015, 09:25:53 AM »
Gotta monetize that asset somehow...

Seriously speaking, many musuems have tons of material in their collection that isn't displayed due to lack of space, etc. Many are hurting for funding, so why not lend out and generate income.

Tjat

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Re: "Art Loans"
« Reply #2 on: September 23, 2015, 01:22:12 PM »
Somewhat related story. My wife and I snagged a free stay at a condo in FL in a rather wealthy retirement focused area. We were wandering the artificial downtown and went into an art store. A lot of neat paintings and posters were on display, which we enjoyed browsing until a salesperson started harassing us.

He pulled me aside and said something along the lines of "a piece of art here not only will make the wife happy, but is a great investment." I said my investments sit in a bank not on my wall, but he still insisted on promising a good deal and with a sly expression, wrote a number on a piece of paper and passed it to me. On it, was $247 - higher than I'd spend, but not ridiculous. My wife even commented that it seemed like a good deal. He then disclosed that was the 5%!!! down payment and we could pay for it over 5 years @ 5%

Could you imagine hanging a $5000+interest picture on the wall!

MgoSam

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Re: "Art Loans"
« Reply #3 on: September 23, 2015, 01:30:52 PM »
I've always wondered about those fancy art galleries that are in every city, do people actually buy paintings from there? Or worse, do people buy the prints?

I know very little about art, but I do appreciate original paintings, and so will look for them, but I have never spent all that much on a painting. The three original paintings I own, two were made by a local artist and I paid $50 each for them, and the third was a gift from a college girlfriend who is am amazing artist (side hobby) and who made it specially for me. I would love to get some more artworks, but most of the paintings I see are beyond what I would like to pay. I understand why paintings cost what they do for the most part, and I understand that artists need to make a living, but I usually will try to see if any art students have any pieces that they would be willing to sell.

crispy

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Re: "Art Loans"
« Reply #4 on: September 23, 2015, 01:53:08 PM »
My rich former boss had several very expensive art pieces.  I remember that she paid thousands for a piece of art glass and an oil painting.  She appreciated them and could definitely afford to buy them.


intellectsucks

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Re: "Art Loans"
« Reply #5 on: September 23, 2015, 02:41:41 PM »
Maybe I'm crazy but I would have no problem investing in an original Dali. Original pieces by the masters actually do have pretty good appreciation rates. Being able to view something as breathtaking as a Dali everyday while getting appreciation? If I had the money i'd do it.

Rosy

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Re: "Art Loans"
« Reply #6 on: September 23, 2015, 08:14:07 PM »
@intellectsucks - Dali - would you believe I never saw the paintings within the painting until I went to design school and chose the Dali Museum for a report? How blind can you be? Once I knew it totally changed my appreciation of his work.

Last month we went to see the Da Vinci exhibit at the new Dali museum - well worth it. It was nice to catch up with a tour - I didn't remember seeing the mondrian Lincoln painting before - super cool.

Anyway - I have to agree with you, if I had the money I would invest in and support the arts, no question. Can't say that I am an expert, but I know what I like and I still remember the first painting I ever lusted after.
I spotted it in a gallery in NYC for $5000 and for weeks I tried to figure out how to buy it. Didn't happen, two years later his stuff sold for ten times the amount. Sigh - it was like love at first sight - with the art, not the artist:)

Tjat

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Re: "Art Loans"
« Reply #7 on: September 24, 2015, 06:40:03 AM »
Maybe I'm crazy but I would have no problem investing in an original Dali. Original pieces by the masters actually do have pretty good appreciation rates. Being able to view something as breathtaking as a Dali everyday while getting appreciation? If I had the money i'd do it.

To clarify my post, this was a gallery featuring talented, but local/not famous artists. At best an investment here would be a speculative gamble. Buying an original from a master artist is a bit different, true.

Gerard

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Re: "Art Loans"
« Reply #8 on: September 24, 2015, 03:40:32 PM »
I'd be hesitant to buy a signed Dali print in particular, given his reputation for signing blank pieces of paper that were later printed. But I totally get the idea of buying artist-created art, especially prints. What I don't get is people who pay big bucks for an expensively-framed reproduction.