sin
New Member
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February 2013
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Has anyone every purchased a piece with a partner before?, by sin on Aug 19, 2016 22:02:19 GMT 1, I can get half way there on a grail piece.
I have a partner, a good friend, and we are considering going in on it together.
Anyone ever done this, and have any advice, want to avoid pitfalls as the relationship is worth more than the art to me (and the art aint cheap)
Thanks
I can get half way there on a grail piece.
I have a partner, a good friend, and we are considering going in on it together.
Anyone ever done this, and have any advice, want to avoid pitfalls as the relationship is worth more than the art to me (and the art aint cheap)
Thanks
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Has anyone every purchased a piece with a partner before?, by Castle Gallery NI on Aug 19, 2016 22:06:44 GMT 1, I can get half way there on a grail piece. ย ย I have a partner, a good friend, and we are considering going in on it together. Anyone ever done this, and have any advice, want to avoid pitfalls as the relationship is worth more than the art to me (and the art aint cheap) Thanks
Dont do it
or do do it, or dont dont it.
Or do dont it.
Basically dont
I can get half way there on a grail piece. ย ย I have a partner, a good friend, and we are considering going in on it together. Anyone ever done this, and have any advice, want to avoid pitfalls as the relationship is worth more than the art to me (and the art aint cheap) Thanks Dont do it or do do it, or dont dont it. Or do dont it. Basically dont |
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Deleted
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January 1970
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Has anyone every purchased a piece with a partner before?, by Deleted on Aug 19, 2016 22:23:54 GMT 1, Watch the season 2 episode of the Simpsons, "Three men and a Comic Book". You will find your answer there.
Watch the season 2 episode of the Simpsons, "Three men and a Comic Book". You will find your answer there.
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Nick
Junior Member
Posts โข 1,562
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January 2014
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Has anyone every purchased a piece with a partner before?, by Nick on Aug 19, 2016 22:34:15 GMT 1, Go for it. Agree how it will be shared and agree that the only reason for a sale without mutual consent is if one of you is in desperate need for money. If that point was ever to arise surely friendship dictates that you'd be happy to help ease ones situation.
Better to take the plunge than kick yourself for missing a grail or to go into debt for one.
If you're the type of collector who likes to trade pieces around often to freshen up your walls maybe not the best idea either!
Based on no experience what so ever but just the way I see things!
Go for it. Agree how it will be shared and agree that the only reason for a sale without mutual consent is if one of you is in desperate need for money. If that point was ever to arise surely friendship dictates that you'd be happy to help ease ones situation.
Better to take the plunge than kick yourself for missing a grail or to go into debt for one.
If you're the type of collector who likes to trade pieces around often to freshen up your walls maybe not the best idea either!
Based on no experience what so ever but just the way I see things!
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Deleted
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January 1970
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Has anyone every purchased a piece with a partner before?, by Deleted on Aug 19, 2016 23:06:56 GMT 1, I can get half way there on a grail piece. I have a partner, a good friend, and we are considering going in on it together. Anyone ever done this, and have any advice, want to avoid pitfalls as the relationship is worth more than the art to me (and the art aint cheap) Thanks
If its loadsa money..................
i suppose it would an idea to treat it like being partners in a business insofar as you both know there will be a time when one of you no longer wants to have half a painting so would be prudent to sort out at the outset....
First refusal to buy at current market value etc, split insurances and any overheads, weekend visits, sunlight and radiator restrictions
get some legal s**t drawn up and signed by both parties, so its all clear and friendly if one of you fucks up and spunks everything in Vegas and needs to cash the painting in
I can get half way there on a grail piece. I have a partner, a good friend, and we are considering going in on it together. Anyone ever done this, and have any advice, want to avoid pitfalls as the relationship is worth more than the art to me (and the art aint cheap) Thanks If its loadsa money.................. i suppose it would an idea to treat it like being partners in a business insofar as you both know there will be a time when one of you no longer wants to have half a painting so would be prudent to sort out at the outset.... First refusal to buy at current market value etc, split insurances and any overheads, weekend visits, sunlight and radiator restrictions get some legal s**t drawn up and signed by both parties, so its all clear and friendly if one of you fucks up and spunks everything in Vegas and needs to cash the painting in |
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Has anyone every purchased a piece with a partner before?, by dismalandbland on Aug 19, 2016 23:31:34 GMT 1, My advice (for what it's worth) would be not to do it.
One of you will tire of either the image, or having funds tied up, earlier than the other.
At that point, no matter how strong the friendship, and how amicable the resolution, a seed of resentment will have been sowed.
If you really are good friends. I'd value that higher. Don't do it.
My advice (for what it's worth) would be not to do it.
One of you will tire of either the image, or having funds tied up, earlier than the other.
At that point, no matter how strong the friendship, and how amicable the resolution, a seed of resentment will have been sowed.
If you really are good friends. I'd value that higher. Don't do it.
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Deleted
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January 1970
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Has anyone every purchased a piece with a partner before?, by Deleted on Aug 19, 2016 23:39:40 GMT 1, My advice (for what it's worth) would be not to do it. One of you will tire of either the image, or having funds tied up, earlier than the other. At that point, no matter how strong the friendship, and how amicable the resolution, a seed of resentment will have been sowed. If you really are good friends. I'd value that higher. Don't do it.
also..... say it decreased in value by 80%
My advice (for what it's worth) would be not to do it. One of you will tire of either the image, or having funds tied up, earlier than the other. At that point, no matter how strong the friendship, and how amicable the resolution, a seed of resentment will have been sowed. If you really are good friends. I'd value that higher. Don't do it. also..... say it decreased in value by 80% |
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NYart
Junior Member
Posts โข 1,221
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January 2016
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Has anyone every purchased a piece with a partner before?, by NYart on Aug 19, 2016 23:40:47 GMT 1, On top of everything that has been said, I personally wouldn't even be satisfied 'kind of' owning a piece. I wouldn't do it.
Hope all goes well with whatever decision you come to though.
On top of everything that has been said, I personally wouldn't even be satisfied 'kind of' owning a piece. I wouldn't do it.
Hope all goes well with whatever decision you come to though.
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Deleted
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January 1970
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Has anyone every purchased a piece with a partner before?, by Deleted on Aug 20, 2016 0:14:10 GMT 1, A couple of my friends bought a house together. They are no longer friends.
In theory it's a nice idea and obviously it's a chance to get your grail piece but I think it would end up being a bone of contention in your friendship.
You could write up a contract that covers all potential issues and involve a third party to deal with all that but then it becomes a lot less fun than art buying should.
ThHowever if both yourself and your friend are happy to go ahead and have covered all possibilities etc... I wouldn't want to stand in the way of someone buying a grail piece
A couple of my friends bought a house together. They are no longer friends.
In theory it's a nice idea and obviously it's a chance to get your grail piece but I think it would end up being a bone of contention in your friendship.
You could write up a contract that covers all potential issues and involve a third party to deal with all that but then it becomes a lot less fun than art buying should.
ThHowever if both yourself and your friend are happy to go ahead and have covered all possibilities etc... I wouldn't want to stand in the way of someone buying a grail piece
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Nick
Junior Member
Posts โข 1,562
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January 2014
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Has anyone every purchased a piece with a partner before?, by Nick on Aug 20, 2016 0:22:49 GMT 1, After thinking it over a bit more and reading all the other comments I retract my viewpoint. Just not worth the headache and potential pitfalls. Tastes and needs change and if neither of you are at liberty to sell it then it will cause a rift.
After thinking it over a bit more and reading all the other comments I retract my viewpoint. Just not worth the headache and potential pitfalls. Tastes and needs change and if neither of you are at liberty to sell it then it will cause a rift.
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Deleted
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January 1970
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Has anyone every purchased a piece with a partner before?, by Deleted on Aug 20, 2016 1:44:20 GMT 1, Joking aside, I personally know of a family that was destroyed because of a shared driveway. A f**king driveway. One side of the family wanted to sell their property, and the others didn't. I'd pass on the Grail piece. Good friends are harder to find than art.
Joking aside, I personally know of a family that was destroyed because of a shared driveway. A f**king driveway. One side of the family wanted to sell their property, and the others didn't. I'd pass on the Grail piece. Good friends are harder to find than art.
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mojo
Junior Member
Posts โข 2,027
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May 2014
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Has anyone every purchased a piece with a partner before?, by mojo on Aug 20, 2016 1:59:11 GMT 1, recipe for disaster
recipe for disaster
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lucky7
New Member
Posts โข 423
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June 2014
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Has anyone every purchased a piece with a partner before?, by lucky7 on Aug 20, 2016 5:52:35 GMT 1, Do I smell a banksy?
Do I smell a banksy?
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sin
New Member
Posts โข 614
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February 2013
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Has anyone every purchased a piece with a partner before?, by sin on Aug 20, 2016 6:27:30 GMT 1, Thanks for the guidance guys.
Working on raising the balance myself.
Thanks for the guidance guys.
Working on raising the balance myself.
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Cornish Crayon
Junior Member
Posts โข 3,965
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December 2007
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Has anyone every purchased a piece with a partner before?, by Cornish Crayon on Aug 20, 2016 9:35:13 GMT 1, Are you buying for investment or to view, because the answer is obvious for both
View: alone
Investment: share
As to the strength of your relationship only you know that, also is your holy grail worth stretching for, I'd sooner be happier knowing I hadn't borrowered to the limit to get it,
Reminds me of someone I used to know, saved for 2 years to buy a brand new motor bike and had a couple more years to go...... As didn't want to borrow........
Couldn't wait any longer bought it, 6 mths later got bored of bike and was paying for it still......... Yet he didn't own it........
There is a moral here somewhere........ lol 
Are you buying for investment or to view, because the answer is obvious for both View: alone Investment: share As to the strength of your relationship only you know that, also is your holy grail worth stretching for, I'd sooner be happier knowing I hadn't borrowered to the limit to get it, Reminds me of someone I used to know, saved for 2 years to buy a brand new motor bike and had a couple more years to go...... As didn't want to borrow........ Couldn't wait any longer bought it, 6 mths later got bored of bike and was paying for it still......... Yet he didn't own it........ There is a moral here somewhere........ lol |
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dotdot
Junior Member
Posts โข 3,645
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December 2006
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Has anyone every purchased a piece with a partner before?, by dotdot on Aug 20, 2016 12:03:17 GMT 1, Don't do it.
I have no examples I can share for fear of a lynching , I could mention the amount and the artist but that would be going too ooooooo far.
Don't do it.
I have no examples I can share for fear of a lynching , I could mention the amount and the artist but that would be going too ooooooo far.
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Deleted
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January 1970
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Has anyone every purchased a piece with a partner before?, by Deleted on Aug 20, 2016 13:09:52 GMT 1, If it's a "grail" piece for you,then what would be the motivation of a partner to go 50% on the purchase price?
The only way I can see it working is to buy it cold, without passion and purely as a business endeavor with a partner where the art is stored in a neutral place to be re sold in the future for a profit. Everything done with a written contract via a notary.
and bung a copy on your wall knowing that you have 50 % of an original stored away.
If it's a "grail" piece for you,then what would be the motivation of a partner to go 50% on the purchase price?
The only way I can see it working is to buy it cold, without passion and purely as a business endeavor with a partner where the art is stored in a neutral place to be re sold in the future for a profit. Everything done with a written contract via a notary.
and bung a copy on your wall knowing that you have 50 % of an original stored away.
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