The Impressionists and the first names of post-war art — discount 30-35 %
ARTinvestment.RU   25 марта 2020

The billionaire and collector Jeffrey Gundlach has already received several such "panic offers" purchasing patterns

last Thursday, March 19, in his microblog millionaire Jeffrey Gundlach reported to got a few "panic" offers to purchase "blue chip" art (and most expensive investment-привлекательных authors art-рынка) at discount prices. Later he said that among the proposed works of art were works created in different periods of the twentieth century — from the Impressionists Gustave Caillebotte and Camille Pissarro to contemporary artists Anselm Kiefer, Anish Kapoor and Richard Prince.

"none of the works was not, I need high quality to see what-либо interest in buying", — he said in an email to Bloomberg, adding that he is open to acquiring the best works of the artists, if it will convince "enough fallen price."

Jeffrey Gundlach is not the only representative of the art-сообщества waiting for better conditions to buy. Financier Asher Edelman, specializing in loans secured by works of art, for example, prepared by a group of investors willing to purchase at a discount. Earlier this week, he stated that he "gathered a group of collectors, galleries and other professionals in the arts, are willing to buy high-quality work at a discount of 35 % from pre-crisis prices." It is known that he has now received counter-offers from collectors about selling for more than $275 million, including works by Pablo Picasso, Gerhard Richter and Roy Lichtenstein.

"very difficult time", — Edelman said, adding that such behavior (fast sale of art collections) — is a logical step in an attempt to achieve maximum liquidity of its assets.

the Coronavirus led to the fall in stock prices around the world, stirred up the credit and currency markets and forced some investors to sell their assets to cover regular (credit and other) spending. Another problem caused by the quarantine, is that in stopping art-рынка people lose their price targets and fail to understand how much things cost that they are willing to buy or sell. Instability and volatility in prices for works of art has already forced officials supervising sale of collections of works of art Harry and Linda of maclow, to suspend the process.

on the other hand, the auction house Christie's from-за quarantine closed all of its offices in Europe and the United States, observes the growth of private queries from customers and plans to launch online-кабинеты to view art and private clients, interested in such transactions.

the Material was prepared by Maria Kuznetsova, AI

Source: bloomberg.com