Art: a beacon of inspiration, creativity and hope
At both Sotheby’s and Christie’s spring auction season, records were broken time and time again as collectors and investors clamored to buy works from Jackson Pollock, Roy Lichtenstein, and Francis Bacon.
To us at the Karma Foundation, there are several interesting elements to this season’s art auctions:
First, many of our members are art collectors – whether it’s for aesthetics or the investment, or a combination of both. There are many discussions at our exclusive socializing and networking events about art as an asset, and the value of understanding art as an investment – just as an investor would consider shares in a company or the potential of a mutual fund.
As we’ve come to learn, many advisors will tell new art collectors to start with the popular artists – consider it as buying Google stock, rather than the unknown start-up – and such as any investment, it’s important to research, including spending time talking to collectors, artists and visiting galleries and exhibitions. In our role as an exclusive socializing and philanthropy organization, we bring all sorts of seasoned executives together and also plan for events where our individual members can see, appreciate, or just size-up works of art.
Secondly, it’s great to see the art market flourishing, partly due to other investment opportunities currently seeming less steady. Plus the sales at Christie’s and Sotheby’s, at $616 million and $704 million respectively, were boosted by rare pieces re-emerging onto the market after decades of absence. Even so, I certainly speak for our members, and hope I speak for a much broader audience, when I say that it’s great to see the strongest spring auction season since when the recession first hit in 2008.
As members join us from new countries, it’s inspiring to read about art bidders from every corner of the globe present at the spring auctions with Europe, China, Middle East, Asia Pacific, North and South America, and Russia represented.
Finally, how can anyone not be intoxicated by the elements of the auction: exclusive networking, high-quality luxury goods, preserving culture and creativity, which is exactly the type of experience we provide our members with time and time again.