Millionaires prefer art
ARTinvestment.RU   08 июля 2010

According to the report The World Wealth Report 2010, the world's richest people are investing in art more than ever

According to the report The World Wealth Report 2010, prepared by Capgemini and Merrill Lynch, the interest millionaires to invest in art, as ever, is high. According to Ileana van der Linde (Ileana van der Linde), presiding over this research project, art has become the most popular segment of the passion investments («investment in his passion"). Millionaires, whose numbers increased last year by 17 percent, "do not trust the financial markets and regulatory authorities, and want to invest in tangible assets».

data on which the report was drawn up, received 1200 asset managers, they represent 150,000 customers from 71 countries. It was found that the average millionaire is investing in the assets relating to the passion investments, about one-third of its funds, more than a quarter of respondents (29,8%) said that the wealthiest of clients prefer to invest in art.

Works of art and other collectable items such as jewelry and precious stones, traditionally attract buyers with" developing "markets. Van der Linde, cites the example of China's "new rich" who buy the works of masters of their country, looking at these investments as investment and inflation hedge. Trend picked up the "mature" markets: the best "passion" art believe 37.4 percent of European and 31.1 percent of American millionaires. According to Michael Plummer (Michael Plummer) from the company Artvest Partners, it can be seen as a radical change in attitude toward art as an asset in Western society.

And what impact this trend may have on the art market? 90 percent of the rich, which are described in the report, have invested assets (not including primary residence) valued from 1 to 5 million dollars. That is $ 20 million per picture, they will not be able to spend, and their investment will be mainly carried out in a more accessible segment of the art market. Art - passion investment number one for the "Ultra" (30 million and above), which constitute only 1 percent, but owned 35 percent of total state of all millionaires.

«spoonful of tar" is next torque: more than half of millionaires (56%) said that the opacity and unregulated art market does not allow them to participate in it more actively. 63%say that would be invested in art more often if they had more opportunities to receive the advice of qualified professionals.

material prepared Yulia Maksimova, AI

Sources: theartnewspaper.com , artinvestment.ru