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RBS Eyes Art Disposals, by Daniel Silk on Jan 1, 2010 14:36:33 GMT 1, "RBS Eyes Art Disposals"
"The Royal Bank of Scotland (RBS) is considering selling parts of its estimated GBP15 million art collection, when the art market improves, as pressure mounts on state-owned banks to dispose of non-core assets."
online.wsj.com/article/BT-CO-20091222-703235.html
"RBS Eyes Art Disposals" "The Royal Bank of Scotland (RBS) is considering selling parts of its estimated GBP15 million art collection, when the art market improves, as pressure mounts on state-owned banks to dispose of non-core assets." online.wsj.com/article/BT-CO-20091222-703235.html |
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RBS Eyes Art Disposals, by Daniel Silk on Jan 1, 2010 14:50:09 GMT 1, "The collection of the bank, which is majority-owned bank by the U.K. government, comprises works by artists LS Lowry, Anne Redpath, Jack Vettriano, Patrick Caulfield and Peter Howson. The bank is planning to loan some works to public galleries next year."
"As far as corporate collections go, RBS' collection is relatively modest.
U.S. bank JP Morgan (JPM) has a collection of around 35,000 pieces, while German lender Deutsche Bank (DB) has one of the largest corporate art collections in the world, owning around 53,000 works.
The collection was last publicly valued at more than GBP75 million in 2004 and is now likely to be worth "far, far north" of that, according to a source.
At the last count, UBS' collection numbered some 45,000 works worth at least $150 million with big name artists such as Lucian Freud, Roy Lichtenstein, Candida Hofer, Edward Ruscha and Julian Schnabel hanging on its walls in Zurich, London and New York."
"The collection of the bank, which is majority-owned bank by the U.K. government, comprises works by artists LS Lowry, Anne Redpath, Jack Vettriano, Patrick Caulfield and Peter Howson. The bank is planning to loan some works to public galleries next year."
"As far as corporate collections go, RBS' collection is relatively modest.
U.S. bank JP Morgan (JPM) has a collection of around 35,000 pieces, while German lender Deutsche Bank (DB) has one of the largest corporate art collections in the world, owning around 53,000 works.
The collection was last publicly valued at more than GBP75 million in 2004 and is now likely to be worth "far, far north" of that, according to a source.
At the last count, UBS' collection numbered some 45,000 works worth at least $150 million with big name artists such as Lucian Freud, Roy Lichtenstein, Candida Hofer, Edward Ruscha and Julian Schnabel hanging on its walls in Zurich, London and New York."
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dodge
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November 2006
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RBS Eyes Art Disposals, by dodge on Jan 2, 2010 11:02:44 GMT 1, I don't understand how this works. What is a 'corporate collection' and whose money do the banks use to purchase it? Do they buy art as an investment or just as a flashy way of hanging pieces on office walls? It seems like an awful amount of money to be tied up in a 'luxury', especially in the current financial climate. I wouldn't mind having a dig through their collection!
I don't understand how this works. What is a 'corporate collection' and whose money do the banks use to purchase it? Do they buy art as an investment or just as a flashy way of hanging pieces on office walls? It seems like an awful amount of money to be tied up in a 'luxury', especially in the current financial climate. I wouldn't mind having a dig through their collection!
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RBS Eyes Art Disposals, by Daniel Silk on Jan 2, 2010 14:31:49 GMT 1, I should think they buy Art as an investment, and I think thats why so many people now feel they would rather buy the Art themselves to enjoy on the wall at home than put the money in the Bank only to seem them do the same.
I should think they buy Art as an investment, and I think thats why so many people now feel they would rather buy the Art themselves to enjoy on the wall at home than put the money in the Bank only to seem them do the same.
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sashaz
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January 2009
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RBS Eyes Art Disposals, by sashaz on Jan 2, 2010 14:36:40 GMT 1, they buy it as an investment, over the same period in the last 20 years art investments have risen at the same rate as stocks. Thus with clever purchases a company can actually make a profit. Also they have a tangible investment that adds to their assets and has status and decorative value.
they buy it as an investment, over the same period in the last 20 years art investments have risen at the same rate as stocks. Thus with clever purchases a company can actually make a profit. Also they have a tangible investment that adds to their assets and has status and decorative value.
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dodge
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Posts โข 515
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November 2006
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RBS Eyes Art Disposals, by dodge on Jan 2, 2010 16:53:20 GMT 1, I did not realise they did this.
I did not realise they did this.
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