Where should i invest roshni vadehra
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FLO organized an interactive session on Where Should I Invest… Real Estate, Stock Market, Jewellery, Art.. on September 30, 2013 at New Delhi. The session was organized with the objective to provide a better understanding on the subject from a panel of experts comprising. In this presentation, Ms Vadehra suggested that art should be taken up as a serious subject in the school curriculums as this would help in increasing the knowledge base among children and thereby, creating awareness about art in a serious manner. Talking about investing in art, she suggested that one should follow the market trends specially by following an avid art collector like Lekha Poddar, which would facilitate in making the right investment decisions.
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Where should i invest roshni vadehra
- 1. Art – An Investment of Passion Vadehra Art Gallery1 In Pursuit of Happiness
- 2. Evolution of the Indian Art Market Indian art market has witnessed unprecedented growth in recent years o Now estimated to be USD 400 million But still a fraction of the World Art Market o Estimated to be USD 60 billion Art markets globally suffered greatly in the recent financial crisis - India was no exception Things are starting to look up once again…Vadehra Art Gallery 2
- 3. Indian Art Remains Relatively Undervalued Pablo Picasso: USD 104.1 million Alberto Giacometti: USD 104.3 million Tyeb Mehta USD 2 million Vadehra Art Gallery SH Raza USD 3 million 3
- 4. Why do we collect? Vadehra Art Gallery4 Trophy value? Alternate asset class? Passion? IT’S A WINNER!!!!
- 5. What makes investing in art so exciting? Vadehra Art Gallery5 The opportunity to enjoy the artwork on a daily basis The act of selecting and purchasing Investing in culture and collecting historyWatching your Subodh Gupta go from USD 10,000 to USD 200,000 in 3 years
- 6. Art as investment – Pros Vadehra Art Gallery6 Art offers diversification Art provides a range of sub-markets Over time, art prices have kept pace with inflation and often outperformed equities or bonds Non-economic rewards can be enjoyed while the works increase (or decrease) in monetary value
- 7. Art as investment – Cons Vadehra Art Gallery7 Unregulated market, lack of market transparency Illiquid compared to other assets Expensive to crate, ship, install, store and insure Doesn’t produce a revenue stream like bonds, stocks and real estate Subject to fraud, damage, and thus to loss of value High transaction costs
- 8. Who makes a good investor? Vadehra Art Gallery8 Be informed o Ready to do research/homework Be curious Have your own style, set your own rules Collect in depth Develop relationships with artists, curators and gallerists o Access to the best works is a key aspect of investing in art Be a risk taker o Lucky strike!
- 9. In what do we invest? Vadehra Art Gallery9 1. Emerging Artists Challenge to find the next art star Understanding artist’s works is especially important since works are often conceptual in nature Even if a small percentage of works appreciate in value, the collection is considered a success!
- 10. In what do we invest? Vadehra Art Gallery10 2. Old Masters Easier to understand since there’s enough documentation and research. Know historical facts
- 11. In what do we invest? Vadehra Art Gallery11 3. What we like!
- 12. Investing in Modern Indian Art Vadehra Art Gallery12 Attractive value-to-risk option Lack of supply of top quality works Largely purchased by Indians – connection to cultural heritage Collecting history
- 13. Investing in Contemporary Indian Art Vadehra Art Gallery13 Speculation International support New Media and installations Collecting anticipated history
- 14. What makes a great artist? Vadehra Art Gallery14 Skill
- 15. What makes a great artist? Vadehra Art Gallery15 Skill Knowledge of Art History
- 16. What makes a great artist? Vadehra Art Gallery16 Skill Knowledge of Art History Commitment
- 17. What makes a great artist? Vadehra Art Gallery17 Skill Knowledge of Art History Commitment Intellectual creativity
- 18. Investing on a Budget Vadehra Art Gallery18 Emerging artists at attractive prices Bulk buying for better deals Plan for it – annual budget Continuous upgrading
- 19. Investing on a Budget (Contd.) Vadehra Art Gallery19 Buy quality, not quantity or scale Make informed choices o Understand artist’s practices o Understand the market and gallery scene o Develop a trained eye
- 20. Auction Trends Vadehra Art Gallery20 Influence of prominent collectors Private gallery transactions vary significantly from auction sales results A particular work may be bid up due to the competitive nature of the last 2 bidders Rising prices are self- affirming. Auction results cannot be relied on as it is a market of ‘Uniques’
- 21. Influences on market value Vadehra Art Gallery21 Geographical location of where the artist lives and works Gallery representation Supply and demand Influence of star collectors Impact of artist’s personality Critical writing on the artist Public exhibitions at museums
Notas do Editor
- “It is through… Art and Art only that we can shield ourselves from the sordid perils of actual existence”- Oscar Wilde (1854 - 1900)
- To match to wallpaper? Art provides collectors with social status and prestige — an outlet to signal their wealth or lifestyle to others. There are also the philanthropic benefits of purchasing art. This can be done through financing young and up-and-coming artists, or building a collection to preserve cultural heritage.
- Even if the values go down, the ‘look what ive got factor’, you’ve picked a winner. Even if ‘investing’ is a primary concern while buying art, eventually, collectors don’t ordinarily see their collecting purely inmonetary terms. All collectors speak of their love for the art they own, and the objects they desire
- In addition, solid returns during periods of high and rising inflation indicates that art can be an effective hedge against inflation. Prices of individual artworks can increase spectacularly
- A large segment of the market is executed through private transactions, which makes it difficult for outsiders to gain insight. Several limitations in measuring art performance. Typically only auction records are used. Though auction data is large and represents a wide range of price points and collecting categories, much of the turnover in the market (i.e., private sales) isn't captured. In addition, transaction costs and other fees aren't fully reflected. Auction fees for the buyer can exceed 10-20% of the hammer price. Other on-going expenses such as storage, insurance, advisory and appraisal costs may also eat into returns.
- Going with instinct, not only believing the hype, not just reflecting the latest basel, not just bits & pieces. Understanding how the work is developedSurest way to be denied this hard to achieve position is to be a ‘flipper’
- whose work will be appreciated by the market and escalate in prices.
- Taste is not a subject of debate, need only one other person to like it if you want to sell
- Average age of 30 – 45
- Not exclusively a game for the very rich inspite of the media coverage of multimillion dollar record prices, etc. Special deals with galleriesPress sellers including artists for affordable prices
- Paucity of knowledge is a prescription for building a mediocre collection and eventual depreciation of assets.
- Reason why galleries court ‘important collectors’ to acquire works from their exhibitions, artists who they represent. As prices of an artist’s work increase, demand increases, thus driving up prices further.