Let’s do what we have to do in order to be Successful in our own lives!!

This month we have been hearing interesting views on our Financial Markets in today’s Economy. Our firm believes it is important to pay attention to the experts and what they are saying about today Financial Market. We wanted to EXPLAIN why Buying Fine Arts is still a superb idea in regard to increasing your non-liquid assets.

Much of our Research, in regards to today’s crisis, revolved around World Trade Journal, Forbes, and Fortune. We only considered the articles written within this least week. All articles mention there is No definitive answer to the Financial Crisis, at this time. We need to wait a little longer as the experts figure out how to turn around the crisis and move us back into Economic Growth.

We can say, while we are still waiting on the experts to inform us that we are Officially Cleared of going into Recession, that the Art Industry Has Not Changed, much, during our Crisis. Now our research takes into consideration other Art related articles. (See below for references on all articles used in research for this blog.)

~ Why Buying Art is an Asset to You ~

Art is an Investment; it may be an asset that can offer you a large return in the future.
Diversifies your Portfolio. It is wise to have your assets in many different forms. This way if an investment fails, or your bank loses money and has to be helped out by other banks (like current issues); or if your house burns down; you will have back up in your other types of assets. **Incredibly important in today’s world!
Global Market. Art is popular and is continuously thriving all around the world. It is constantly being bought and sold from all different types of parties. One can purchase art from another country just by a click of a button, you do not have to travel to find that piece that you totally love.
Grows Tax Free. You do not have to pay taxes every year on your Artwork. The value may increase each year, yet you are not responsible for paying taxes on that increase.
Low Maintenance. If your artwork is properly stored, framed, etc. then there will be minimal cleaning or minor repairs needed; if any. The majority of artwork does not get damaged over time…..again with proper settings and care.

Please be aware Art Values are fickle; there are many factors that help configure the value of each piece of artwork. These factors can change over time; this is why a CURRENT Appraisal is a must.

~ Additional Reasons you should get an Appraisal ~

Insurance Purposes will require you to have your Artwork RE-APPRAISED every few years.
In order to Sell your artwork for the correct amount you will need a current appraisal.
Or if you are purchasing a highly valued piece of artwork, then you want to make sure an Appraisal is done and, we recommend, NOT by the Seller (this can cause problems in getting the correct value on your appraisal; as it is supremely easy to appraise the piece for whatever the Seller chooses).

WHY is Artwork so important to our Nation, thus making it a Continuous Asset in the Financial World?

The Art Industry encourages tourism which helps boost revenue to the local areas.
The Art and Culture Industry is purported to have added value to the US Economy by five times greater than the Agricultural Sector. (Why Investing in Art and Creativity Is Crucial in Today’s Economy from Entrepreneur, by Jodie King 11/2022)
No matter how bad times get the Art Market continues to grow.

Other Reasons why Art is important to us (individually) and therefore our Economy:

Connections: Art is one-way we humans can relate to each other. If you stop and pay attention to the artwork around you, you may find a ‘ piece ‘ that relates to you, personally.
Preserves History: Artist have been known to paint what is passionate to them, such as showing support for a specific cause. Some artists paint in regards to the experiences happening around them in their era; this can be political reasons, Buying Market and so much more. One great example of how history is preserved is through Still Life Paintings, as they were painted at the time something new was exposed to that location. ~ When a country first started exchanging goods with China and came upon silk. In a Still Life painting you can see a silk tablecloth. These types of paintings can date history.
Knowledge: Art can open the viewer’s eyes to different cultures, different countries, history (as mentioned above), causes, politics, and so much more. It is a vast world that is constantly changing with new techniques, new styles of artwork, and new artists.

Empathy: We can lose ourselves or find ourselves in the Artwork we are viewing.

“Juanito va a la cuidad” by Antonio Bernito. Photo taken by ShauLin Hon with Slyworks Photography.

“Juanito initially appeared in Berni’s paintings as oil-painted images with an expressionistic spirit. One day, however, as the artist walked through Juanito’s neighborhood, a radical change in the conception of the character took place. Berni realized that if he really wanted to convey the misery that surrounded Juanito’s life, he had to do it not with paint but with the discarded materials and pieces of scrap that made up Juanito’s universe. From then on Berni bought fewer cans of paint and began to accumulate a veritable reservoir of nontraditional materials.” The Museum of Fine Arts, Houston

This piece is an Example of History, Connections, and Empathy as mentioned above.

Please email us at coronadoappraisalsllc@gmail.com in order to learn more about our Appraisal Process, or if you have any questions or concerns. You may also call us at 619/929-6192 if you would like to set a Viewing Appointment.