Download Art Wealth Management: Managing Private Art Collections by Alessia Zorloni PDF

By Alessia Zorloni

This booklet bargains an summary of ways to control inner most paintings collections, delivering crucial insights on paintings wealth administration, artwork funding, paintings governance, and succession making plans for paintings resources. It bargains useful tips about sound artwork assortment governance, but in addition examines the historical past of artwork markets and cost construction, together with the effect of favor and traits. all through heritage, paintings patronage has performed a tremendous function within the wealth of ultra-high-net-worth households and resulted in inner most museums funded via philanthropist creditors which will rejoice their very own tastes and depart a long-lasting legacy. at the present time, as a result development of paintings making an investment by way of a brand new iteration of rich creditors, not just artists but additionally filthy rich households, subtle traders and their shut advisors now face a extra advanced set of economic and managerial wishes. As such, the contributions during this booklet could be of curiosity to gathering households, relations workplaces, advisors looking to combine paintings into their total wealth administration technique, and to students within the fields of cultural economics, artwork purchasers, curators, and artwork lovers.

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2014, July 16). Adrian Cheng: Building up a New Chinese Culture. ARTnews. RBC Wealth Management. (2012). Global shift: Transforming the art world. Breakfast panel at The Raleigh, Miami, on December 9. Reynolds, C. (2011, November 11). Backed by Wal-Mart millions, a museum is Born in Arkansas. Los Angeles Times. Reynolds, C. (2012, October 14). Crystal Bridges Art Museum is reshaping Wal-Mart’s hometown. Los Angeles Times. Rodriguez, C. (2014, February 8). Meet the billionaire behind Miami’s artistic rebirth.

Zorloni and M. Resch collection of John Brack, Jeffrey Smart, John Olsen and other iconic artists, opening the gallery in 2003. A more recent addition to the private museum scene is White Rabbit in Sydney, one of the world’s largest and most significant collections of contemporary Chinese art. Funded by the $30 million foundation established by Kerr Neilson and his wife Judith in 2009, White Rabbit has a collection of over 1,000 works by more than 350 artists, capturing the explosion of creativity that has driven Chinese art in the past decade (Ardia 2015).

There is no change in legal ownership, which remains with the trustees, so the need to comply with probate formalities is removed. 7 Conclusion Economic uncertainty and the volatile return of other traditional assets in recent years are forcing HNWIs to consider a wider spectrum of alternative assets, including art and collectibles. According to a number of research reports, art and collectibles represent a significant proportion of the total assets of many HNWIs. This trend is supported by the rise in the past three decades of private museums funded by cultural philanthropists.

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