Art Market Magazine

Editorial

While many things change, others do not - like the value of a beautiful object. With time it will even rise due to its rarity. A case in point is awork by the very contemporary artist Ron Arad. The art desk he designed for the Tel Aviv opera house in 1993 was auctioned off for the first time in March 2006 for €26,000. Nearly six years later to the day it fetched €130,834, netting the seller an amazing increase in value. Inquite a different vein, a lavish book of hours illuminated by two great 15th-century Parisian painters was sold at the 1953 sale of the famous publisher Hachette's collection for two million francs, the equivalent of €42,160 in today's money. This month it is being offered in Paris at an estimated of €600,000/800,000… Obviously, there are no set rules. Such examples require novices as well as knowledgeable collectors to have a certain amount of foresight, an "eye", as insiders say. They also need expert advice, which is precious in this “specialist” market. In times of crisis and fluctuating stock market prices, art is a good investment for those who know how to choose wisely. So far, art investments have been sheltered from tax system turmoil. Who can beat that?

Art Market Magazine Gazette International

April 2012 Edition

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