Friday, October 17, 2014
Tuesday, September 16, 2014
The unprecedented development of the art market over the past few years has resulted in the ‘financialisation’ of the art market. Art is now seen not only as an object of pleasure, however, also as a new alternative asset class with interesting business opportunities.
Meanwhile, the globalisation of culture has lead art organisations and cultural related companies to confront a number of strategic issues critical to reaching their goals.
Such developments make the need for specialised services to support them apparent.
Deloitte Art & Finance
at 9:26 AM
Wednesday, February 26, 2014
Tuesday, February 4, 2014
When British collector Martin Lang submitted one of his paintings to a French committee, he was hoping to find out if it was an authentic work by Marc Chagall.
But not only did the Chagall Committee declare the painting a forgery, it said Lang's painting should be burned under strict French laws that protect artists' works.
Lang, 63, said Monday he was frustrated with the decision but he still hopes the painting will be returned to him.
Describing his shock at the ruling, Lang said: "It was just total disbelief that they would want to destroy it."
"I'm not attacking the committee — I just want them to please reconsider. They could just mark it unoriginal and send it back," he told The Associated Press.
The businessman bought the watercolour of a reclining nude woman for £100,000 (about $182,900 Cdn) in 1992, believing it to be an authentic Chagall dating from around 1909 to 1910.
Lang's son recently called in experts from a BBC show about forgeries to determine if it was real. According to the BBC, the painting surfaced in Russia after the 1991 fall of the Soviet Union and was offered to Lang at a fraction of its value.
The painting was eventually sent to the Chagall Committee in Paris for a final ruling. The committee — run by the Russian-born artist's grandchildren to protect his legacy — ruled it was a fake and said it would be destroyed under French law.
Lang said he did not understand why art collectors like him should be punished for forgeries.
"It seems to be dissuading honest people from coming forward to have their art verified. It seems to be the wrong way of doing it," said Lang, a property developer from the northern city of Leeds.
The Chagall Committee declined to discuss the case Monday.
at 9:33 AM
Saturday, February 1, 2014
The Spanish art trade is breathing a huge sigh of relief after the government decided last week to slash sales tax on works of art to 10 per cent, down from the previous punishing rate of 21 per cent, introduced in 2012. The welcome news comes three weeks ahead of the opening of Arco, the country’s leading art fair.
The cut was welcomed by Arco director Carlos Urroz: “The 21 per cent tax was terribly hard for Spanish galleries, and it sapped confidence among buyers,” he said. “We hope this change will [give] collectors the will to spend again.”
Spanish deputy prime minister Soraya Sáenz de Santamaria said the government had recognised that the previous rate was a “brake on the competitiveness of the Spanish art market” – with the equivalent tax standing at 10 per cent in France, 6 per cent in Belgium and 7 per cent in Germany.
Georgina Adams FT
at 11:23 AM
Monday, November 4, 2013
Deloitte Luxembourg is providing seminars for finance professionals who wish to have an insight into the recent business developments of the Luxembourg Freeport, and showcase services to maximise the convergence of Art and Finance.
Due to the imminent opening of the Luxembourg Freeport, private bankers, asset managers, and institutional investors have together come to the realisation that art assets held in private wealth situations require serious management and the opportunity to offer revenue producing services. We are presenting three seminar sessions to better understand the management of art assets and the tangible opportunity they present, especially with the association of the Luxembourg Freeport.
By attending our seminars, you will get first-hand information on art market trends in a financial context, which will help you participate in the art market in a knowledgeable and informed way and develop on-going relationships with your best clients.
The seminar series is comprised of three sessions (September, October and November). Each session will take place from 5.00 p.m. to 7.00 p.m. followed by a drinks reception.
All sessions will take place at:
560, rue de Neudorf
L-2220 – Luxembourg
560, rue de Neudorf
L-2220 – Luxembourg
Thursday 14 November 2013
Art-secured lending & Art advisory services—What is their role in wealth management?
Participants have a choice to attend either the whole seminar series or individual sessions.
For more information about the Art & Finance Seminars, please click here.
· 1 seminar
€95 (including 15% VAT tax)
Please register no later than two weeks before the seminar you wish to attend.
To register for one or more sessions, please click here.
The Events Department
at 9:55 AM
Saturday, October 5, 2013
I should tell you a bit about myself. I am 66 years old and retired from teaching special education, in the public school system, 5 years ago. When I originally read that Arthur taught children who were handicapped , I sure could relate. I was an artistic child and wanted to major in Art at university,but when I was 17 , my family told me no, that it would not be something that would be financially able to support me. I remember that afternoon clearly because I always felt that something died that day. So I ended up majoring in education and art was in the background for the next 30 years. Now that I am retired, I am exploring the path not taken. My interest in Arthur and admiration for his work goes far beyond simple appreciation of beautiful work. His colors, values , subject matter and impressionism make my spirit sing ! He is perfect to me ! He is like a modern day Monet only with more spirit / edginess . Monet was pretty , pastoral - I love Monet. But when I saw Arthur's work , he is Monet with real life people and the spirit and body language that people bring with them ! Arthur's use of Value is more pronounced and I think better than Monet. I appreciate this as I struggle with Values ! So this painting will have a position of honor and respect for a great artist in my home and will go to my son one day ! I can not believe that I am able to purchase such a work of art at this level !! I am thrilled !
So this gives you an idea of how much this painting is wanted and respected and the artist admired !
After reading everything I could about Arthur for 3 years and looking at his paintings via the computer, it will take time for me to accept that I own one of his paintings. The beautiful rose and yellows against the light blues and the warm against cool and the dark against light and the gorgeous children who lead the eye throughout the work - I am in heaven ! The broken brushstrokes and the wonderful colors woven throughout ! I shall love this painting to my last day !!
I found the card that Arthur wrote and I am so impressed that he took the time . It means a lot to me ! That card will stay with the painting. God gave Arthur something special and I can see and feel it so clearly !
I am beyond happy !
I am beyond happy !
at 12:27 PM