So, how many stackers own and lease artworks? I've seen a good few articles in AHA Investor about buying and leasing art, and am currently researching this. I'm having some trouble locating heaps of info without finding links to Sydney based Art Equity. Does anyone have any dealings with this company? Do you have any experience of investment art you'd like to share, any buyers tips etc? RD
Some buyers tibs - do lots of research visit galleries and get to know the staff some gallery owners lie subscribe to magazines all of which are designed to imbrove your eye so you can avoid crab then buy what you like because others will also like it But none of the above tibs will guarantee you will make a brofit which means you might end ub having to hang the biece in your own home so thats why you should like it in the first blace
Something wrong with your 'p' key, shiney? I have never seen AHA mag in even the biggest newsagents. Anyone know where to get it in Brisbane? Not keen on subscribing.
Ag-ness, I mean't to click on reply (not thanks).. I asked my local newsagent and he is able/willing to get the magazine in on for me.
I have been Googling this since last we met... You can hang the art in your own home as long as the market value of the piece is not more than 5% of your SMSF total, and you have to rent it to yourself at the market rate. Not sure if that 5% is per piece or the total for all the art works. From what I can gather you can get no enjoyment from your whole SMSF beyond the 5%. Some pieces (small prints) have been renting for as low as $3 a week and some are rented out at 17% of the overall value for 12 months with an option to buy it thrown in as well. Thanks for bringing this up RD, I have been looking at it because I feel that I would like to be a patron of the arts and there is a very good artist who I have been wanting to commission a piece from for ages as all her works are sold out before I hear about them! My wife is a very practical lady and doesn't feel that spending more than the cost of the canvas and paints is justified. Wil the SMSF money I get a bit more freedom. I would be staying away from the modern indigenous art as although I quite like it there is a lot of it about and the same artist is churning the same picture out, some of the Galleries in Sydney have price tags of $10,000 on an artist and you can get the same picture, about 1/4 size on ebay for a few hundred. Plus they tried to sell the aborigine art in Europe in the 80s and went at it full on with tours etc. It didn't take off in Europe and that would be where the big dealers are. I am not sure whether it is best to go to a gallery and see what is hot, even if you buy some crap you hate, or whether you buy something you really like only to find out it isn't commercially viable and you never get any capital gains and you never generate an income and you can't hang it in your house. I guess like all things you go for a bit of diversity, something you like, something everybody else likes and if by some chance they happen to be the same thing you have hit the jackpot.
When I came here I had a bit of time to do some painting so all my new relatives bough me art related things for Christmas. One of the things I got were some art magazines. I like reading, and I like art, but I can't stand reading about art. I like artists but most art critics wind me up! I think if you baulk at paying a few thousand for some baubs on a canvas or if the Turner Prizes wind you up or if a trip to the Tate leaves you feeling empty then probably investing in art is not for you. Actually that's me!
All i can say is that as a potential seller, i am extremely disappointed with the service at Bonhams art department. Terrible customer service, non-existant communication beyond the initial visit. Even a simple common courtesy like returning an email is too much trouble for that mob.
I would also start by visiting municibal and state galleries and see whats hanging there. There is a modern art gallery of some sort in Sth Brisbane which is subbosed to be very good. Go for a drive to the Tweed Valley Gallery - brobably the best regional gallery in Australia. Heres some links, not recommendations just some intersting links. http://artreview.com.au/contents/278077051-if-it-seems-too-good-to-be-true- http://www.aboriginalartresource.co...l-art/economics-of-art/art-and-superannuation http://www.picperfect.com.au/art_for_hire.html Eeeeeeeeeeeeek!!!!!!!! Buy one Get one free!!!!!! Scary. http://www.cookshill.com/services/adv_planportfolio.html What would I do if i was going to use my SMSF to invest in art - buy a Whitely or a Nolan. Thats it. Of course if I could afford Bicasso or Warhol I would as well. I would only buy big name. If I wasnt using SMSF funds, then the tob of my list would be Jenny Sages, a living icon of Oz Art. Not cheab, and Im not sure if her work will abbreciate in value, but she is good. Very very good. Follow the major art brizes, not necessarily the winners because some art judges have tastebuds ub their arses, but there are many good art brizes in australia that highlight some very good new and established artists. The secondary market is the big indicator of any brofits to be made in art - until your chosen artist breaks into the auction scene with some fervour, then brofits will be limited and the biece you wish to sell may well sit in the back cuboard of a gallery for months or years. The last gallery I was in had these three massive bieces from an Australian artist for sale on behalf of a client. The largest sold for 30% of original burchase brice - which was $12000!!!! Ouch!!!!!!! Thats a loss of 8Grand - and if I had the cash on me that day I could have got it for less as it had not been baid for at that stage.
That is a shame, I have dealt with Patty from Jewellery dept twice and she is AMAZING. Helpful, kind, professional, efficient. Perhaps you can bring it to the attention of the boss?? Good luck! Shiny.
Haven't thought of investing in art but I do buy some stuff off my friend Lei, she's very talented and I love her work. She's also an amazing person so that helps check her out @ www.leilanibeckett.com She recently did a painting of Long Beach at sunset that is gorgeous and on display at a local 4 star hotel. She's starting get noticed and sell more paintings so I'm happy for her as its a tough business to make a living at. Art investing interests me but I feel its a little beyond my income. Maybe in a few years. Antiques however are something I'm really interested in and I already have some rad pieces that are all worth at least double what I paid for them. You'd be amazed at what people have and what they'll sell it for on craiglist or the like. You should see the 1940 arch top acoustic guitar I bought for 225 with a vintage case!
Perhaps the paintings i have are of no interest to them - even though works by 1 painter has been sold by them before and the other is a documented German 19th century painter. But to receive no reply at all even a polite "thank you but we cannot accept them for cosnignment), imo is extremely unprofessional, especially after going to the trouble of bringing the paintings into their office. Don't know what is wrong with people these days.
We have about 8 good pieces outside the SMSF and we purchased the bulk some time back.We purchased only well recognized artists who had a pedigree.( ie: won major Australian Art prizes) We did not purchase what we thought looked good though they are still in our house and some in the office. I think art in a SMSF can be good as long it's a very serious artist that is well establised.
Got this sent to me today, have no idea about them. http://www.collinskentint.com.au/webquery/l.php?campaign=CKITS20120725 But the list of artists whose work they can access is indicative of the type of works that SMSF's should be looking at. Big names only really should apply in my book, leave the up-and-coming, the politically correct or the social commentators for your private collection or for the public galleries which spend taxpayer money. Notice the distinct lack of Australian artists, and those with with a vagina. It's just not part of their brief. That 9% would be before fees I would imagine. PS, I've got a soft spot for the Impressionists.
Thats a different league to what we have.Though I do still like the Clifton Pugh oil that I bought 25 years ago .I will never sell it.
Rolf harris' stuff seems to sell well and I like some of his pieces - not so keen on his african stuff though.
