ArtAsInvestment
Investing
Art As Investment
it’s not just for the filthy rich anymore by Winston Donald
“I was fortunate in
1998 to obtain a
Christopher
Gonzales work which I called
“Three Faces” for
$12,000.
I was sold (at a bargain) a Hopeton
Fletcher surrealist piece for $5,000 in
1995.
Last May 2007, the
Mutual Gallery sold the same pieces for me for $84,000, I made a whopping
394.12% profit ”
T
he last 15 years has seen a tremendous growth and progression in income of the
Jamaican middle class.
Despite the economic doldrum over the island and fall off of traditional industries, individuals and families in the middle income strata have experienced more wealth than any other time in Jamaican history. The middle and
upper class has never had it so good. To deny the financial benefits gained would be tantamount to heresy. The liberalization of the economy, globalization, achievement of tertiary education and generally exposure to the previously hidden economies have benefitted the
Upper and Middle Class significantly.
Suddenly with their professional skills, newly achieved business acumen, and
talents many have found their coffers awash with cash, heavy cash in many cases. Cash, liquidity, large disposable incomes were able to acquire stately homes in exclusive neighbourhoods, fine and sophisticated furnishings, and horde of Japanese, American and European and motor vehicles. Wealth has also been diverted to acquire government papers,
L.R.S.’s , Eurobonds, alternative invest-
Investing
ments and other securities, yet an excellent and non risky investment overlooked has been Jamaican Art.
Yes, Art has been overlooked as an excellent investment option The rate of return on art investment has been so overwhelming. In the industrialized world , for example, investors in art profiteered immensely year after year. Even in a depression or a recession art has always command very excellent returns and sale prices. The auctions at Sotheby’s and Christies’s in New York or London
Art As Investment
it’s not just for the filthy rich anymore by Winston Donald
“I was fortunate in
1998 to obtain a
Christopher
Gonzales work which I called
“Three Faces” for
$12,000.
I was sold (at a bargain) a Hopeton
Fletcher surrealist piece for $5,000 in
1995.
Last May 2007, the
Mutual Gallery sold the same pieces for me for $84,000, I made a whopping
394.12% profit ”
T
he last 15 years has seen a tremendous growth and progression in income of the
Jamaican middle class.
Despite the economic doldrum over the island and fall off of traditional industries, individuals and families in the middle income strata have experienced more wealth than any other time in Jamaican history. The middle and
upper class has never had it so good. To deny the financial benefits gained would be tantamount to heresy. The liberalization of the economy, globalization, achievement of tertiary education and generally exposure to the previously hidden economies have benefitted the
Upper and Middle Class significantly.
Suddenly with their professional skills, newly achieved business acumen, and
talents many have found their coffers awash with cash, heavy cash in many cases. Cash, liquidity, large disposable incomes were able to acquire stately homes in exclusive neighbourhoods, fine and sophisticated furnishings, and horde of Japanese, American and European and motor vehicles. Wealth has also been diverted to acquire government papers,
L.R.S.’s , Eurobonds, alternative invest-
Investing
ments and other securities, yet an excellent and non risky investment overlooked has been Jamaican Art.
Yes, Art has been overlooked as an excellent investment option The rate of return on art investment has been so overwhelming. In the industrialized world , for example, investors in art profiteered immensely year after year. Even in a depression or a recession art has always command very excellent returns and sale prices. The auctions at Sotheby’s and Christies’s in New York or London