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Trend in sight

Art and Finance

Art Market | In the course of globalization and the influx of liquidity supplied by the countries with high growth, increasingly numerous signs of « financialisation » have appeared on the international art market. Backed by the government of Luxemburg, Deloitte Bank has set up a specialized pole working on the emergence of a veritable « Industry of Art and Finance ».

Projet du freeport pour l’aeroport du Luxembourg © Montant & Stendardo (3BM3)
Projet du freeport pour l’aeroport du Luxembourg
© Montant & Stendardo (3BM3)

The art market has radically transformed itself in recent years. The shifting of the centre of economic gravity towards Asia, the paths opened by the Internet and new technologies have structurally modified the techniques of art promotion, its evaluation, and transaction systems. In this world in mutation, « passion niches » like art and contemporary art are increasingly recognized by the world of finance as a diversification of investment alternative, a new class of assets able to serve as a shield against inflation. A market of investment funds is in the process of being created. Passion niches are redefining new criteria for the appreciation of art and constructing their purchasing policy on the basis of market confidence indicators which follow the economy of the countries, the USA and Europe, China, India, the Middle East, Latin America and Russia.
At the same time, since 2008, the bank Deloitte has developed in Europe a global strategy to harness the « investment market of art » , largely initiated in China, which has started to take shape through :
- the organisation of training seminars to alert wealth managers, institutional investors (speculative funds, endowment funds and capital investment firms) and investment funds. They take place in strategic cities like Luxemburg, London, Paris and Vienna to develop these target networks.
- the setting up of free shipping which will see the light of day in 2014 at the airport of Luxemburg. A highly secure platform designed to receive artworks and objects of great value, bringing together all the adjacent sectors : insurance, transport, tax, legal, logistical and cultural. This project of a fortress of 20,000 square metres on 4 floors, one of which is underground, designed by the Swiss architects Montant & Stendardo (3BM3), was presented at Art Basel 2012. It is managed by Euroasia, which has already set up a logistical centre of this type in Singapore.
- « Splitart » , a securitization company for works of art entailing the creation of an « art stock exchange » to enable the buying and selling of equities representing part of a work of great value (at least 1.5 million Euros). This company was put in abeyance in June 2012 whilst awaiting the authorization of the Commission de Surveillance du Secteur Financier (CSSF) in the knowledge that China, a pioneer in the creation of Art Stock Exchange, currently possesses 18 in operation which are not submitted to reglementation.

Nina Rodrigues-Ely
Publié le 18/08/2012
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Projet du freeport pour l’aeroport du Luxembourg © Montant & Stendardo (3BM3)

Projet du freeport pour l’aeroport du Luxembourg
© Montant & Stendardo (3BM3)

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