• Bloomberg reported that Michael Steinhardt, the former hedge-fund manager who has spent at least $200 million on fine art, is using part of the collection to secure low-cost funding for his latest real estate venture.
• Skate's Art Market Research of New York tracks the top 5,000 selling artists in the world, and provides investment advice on publicly-traded companies in the fine art field
• The Boston Globe reports that the Museum of Fine Arts, Boston will pay between $5 and $10 million for seven paintings by African-American artists from Boston collector John Axelrod.
• Reuters reports that some of the world's richest families are cutting their holdings in gold to take profits on the run-up in prices and are buying high-end art to preserve their wealth during market turmoil.
The 15th Annual Boston International Fine Art Show, taking place November 17-20 at The Cyclorama at the Boston Center for the Arts will present a special program for those interested in exploring the question of fine art as an investment, or a so-called "lifestyle asset." On Friday, November 18 at 6:30pm as part of the show's "New Collectors Night", ARIS Title Insurance Corporation, which sells title insurance for fine art and other important collectibles, will present a special panel discussion: Art Collecting: A Passion, An Investment, or Both?
Is art a luxury brand, as sensitive to the stock markets as high-end fashion? Or does it represent a safe investment in troubled times, much like gold? Why are some markets, such as African American art, exploding, while others, such as Barbizon, appear to be on the wane?
When buying art, what comes first, passion or portfolio? What are the trust and estate issues of art as an asset? Join our panel of experts including Christopher D. Perry, Senior Vice President and Senior Fiduciary Officer, Northern Trust; Lou Salerno, Questroyal Gallery; and Julie Sherlock, Assistant Vice President, ACE Private Risk Services. Presented by ARIS Title Insurance Corporation, New York, the industry's leading authority on managing the market ownership or legal title risks when passion-investing in art and other important collectibles, and moderated by Lawrence M. Shindell, Chairman of ARIS.
Forty galleries from the United States and Europe will offer more than 3,000 original works of art at the Fifteenth Annual Boston International Fine Art Show (BIFAS), November 17-20, 2011 at The Cyclorama, Boston Center for The Arts (BCA). The works on view range in price from affordable works by emerging artists, to multi-million dollars masterpieces by blue chip traditional artists whose works are held by major museums and private collections.
BIFAS opens with a Gala Preview on Thursday, November 17 from 5:30 to 8:30pm to benefit The Greater Boston Food Bank. Gala tickets are $100 and $250 and can be purchased online at www.gbfb.org/events, or by calling the show office. Weekend Show hours are Friday 1pm-9pm, Saturday 11am-8pm and Sunday 11am-5pm. Tickets are $15, under 12 free. All special programs are free with show admission. For additional information and a complete list of galleries, visit www.FineArtBoston.com or call 617-363-0405.
Fusco & Four/Ventures also produces AD 20/21: Art & Design of the 20th & 21st Centuries, slated for March 15-18, 2012, and The Ellis Boston Antiques Show that re-launched in October 2011. For more information about all three shows produced by Fusco & Four/Ventures visit www.BostonArtFairs.com.
Editor’s Notes: • Additional background and photos on request
• Interviews may be arranged with panel participants
• Media coverage of the Gala and show is encouraged.