Artist Pension Trust - Investment Fund for Artists
ARTinvestment.RU   07 мая 2010

The works in the Artists Foundation grant themselves. In the six years of its existence managed to gather a collection of ART, which is estimated at $ 45 million

What unites the winner of last year ternerovskogo Richard Wright (Richard Wright), the nominee Hiornsa Roger (Roger Hiorns) and the future of Britain's representative at the Venice Biennale of Mark Nelson (Mike Nelson)? The fact that they are parties to APT (Artist Pension Trust) - an investment fund for artists.

Collaboration with ART - another way to earn income from their creativity. The works in the Artists Foundation grant themselves. In the six years of its existence ART succeeded in attracting 1,100 authors and gather a collection that numbers more than 4,500 works and is estimated at 45 million dollars. This year the fund will arrange five exhibitions - Bahrain, Beijing, Berlin, Cairo and New York.

Foundation supports about 110 investors who gave the commitment to finance the activities of the organization for the past eight years. All of them are shareholders of the company MutualArt, which is the founder of ART. They have already allocated funds totaling $ 10 million.

Since 2004, the ART opened eight regional offices. The first four - in New York, Los Angeles, London and Berlin - have appeared in 2004-2005. The New York office, worked with 250 artists, was closed in 2009. The remaining three must cease their activities this year. Each of them works with 200-225 authors. In 2005-2007, founded the ART offices in Mexico City, Dubai, Beijing and Mumbai. It says the head of the fund Ochinkloss Pamela (Pamela Auchincloss), now they are in the process of selecting artists. The UAE and India, participants will be less, since there below the number of talented contemporary artists - the fund, according to her, only works with those who produce "high quality product».

Each branch ART has a curatorial committee, which is engaged in search of interesting artists. They invite beginners (emerging) authors, as well as those in the middle of the career ladder (mid-career). Agree to take part about 75%of invitees.

artists themselves to decide what work to give ART. For 20 years they must give 20 creations. The minimum market value of each should not be less than 5000 dollars. As the career of the author of works of value change. Evaluation is based on its art galleries price, if the artist is not a dealer, the value of the fund determine curators. ART pays for storage, insurance and shipping cost collection (in the year it takes about 525 thousand dollars).

After closing the sales offices with sales of works are distributed each year: 40%- artist 32%- in the pool of participants, 28%- to investors. According Ochinkloss, investors will receive more than the usual fund, since ART keeps working longer and taking a more active part in the career development of their wards.

gallery owners do not seem to object. According to the curator Kay Pallister (Kay Pallister), who worked at Gagosian Gallery, dealers, to understand how this fund, support their artists.

Paying ART its work, the artist is thereby entitled to on the part of the profits from the sale of works of other participants. For the beginner, yet still not "settled" in the market by a very profitable, but what about those whose work is already generating significant amounts? .. One artist, who wished not to be named, said that refers to skepticism of the fund.

Pamela Ochinkloss said that ATP is not going to sell the painting at auction, except in cases where their value reaches the "phenomenal" vertices. The first on the market exhibited works of more famous artists, since the risk for investors in this case less. "Beginners need to support, without them the market will lose vitality, - says Michael Plummer (Michael Plummer) and Jeff Rabin (Jeff Rabin), founders Artvest, providing investment advice in the art. - But if we talk about investment, then a young art is are the riskiest segment of the market because it is impossible to predict whose work "shot", whose career will be long ».

Sources: theartnewspaper.com , artinvestment.ru



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