dirk
New Member
Posts โข 161
Likes โข 8
March 2008
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Art sales soar despite credit crunch, by dirk on Apr 22, 2008 22:09:34 GMT 1, The best place to invest your money IMO. I think you will see prices rise over the next 6 months as art purchases as investments become even more mainstream. Not saying it's right or wrong, just going to happen........
Cant believe signed Banksy Trolleys going for ยฃ2k on ebay, one of the better investments out there unlike the NW fad at the moment.
Art sales soar despite credit crunch
By Tom Peterkin
Last Updated: 1:56am BST 22/04/2008 The Telegraph
Sales of arts and antiques are booming as the wealthy seek more reliable investments during the credit crunch, a survey suggests today.
The Royal Institute of Chartered Surveyor's first Art and Antiques Survey reports a "buoyant" market, with 20 per cent more surveyors reporting a rise in lot prices than those reporting a fall.
The effect was most noticeable towards the top end of the market. When asked about lots worth more than ยฃ5,000, 50 per cent more surveyors reported a price rise than a fall. In the picture sector, 44 per cent more surveyors reported a price rise.
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According to the RICS, the popularity of modern artists such as Banksy, Damien Hirst and Peter Doig has pushed up the market.
Banksy's Laugh Now fetched ยฃ190,000 at Bonhams this year. At Christie's, Hirst's A Beautiful Thing fetched ยฃ580,000.
"The arts and antiques market remains a viable investment option during this period of financial uncertainty," said Christopher Ewbank of the RICS. "Many investors are using their disposable incomes to buy in at the high end with the hope that value will continue to stay firm while stocks and bonds ebb and flow.
At the bottom of the market there was less activity, with only four per cent more surveyors reporting a price rise for lots worth less than ยฃ1,000.
The RICS concluded that the financial conditions had caused amateur arts enthusiasts to rein in their spending.
The best place to invest your money IMO. I think you will see prices rise over the next 6 months as art purchases as investments become even more mainstream. Not saying it's right or wrong, just going to happen........
Cant believe signed Banksy Trolleys going for ยฃ2k on ebay, one of the better investments out there unlike the NW fad at the moment.
Art sales soar despite credit crunch
By Tom Peterkin
Last Updated: 1:56am BST 22/04/2008 The Telegraph
Sales of arts and antiques are booming as the wealthy seek more reliable investments during the credit crunch, a survey suggests today.
The Royal Institute of Chartered Surveyor's first Art and Antiques Survey reports a "buoyant" market, with 20 per cent more surveyors reporting a rise in lot prices than those reporting a fall.
The effect was most noticeable towards the top end of the market. When asked about lots worth more than ยฃ5,000, 50 per cent more surveyors reported a price rise than a fall. In the picture sector, 44 per cent more surveyors reported a price rise.
advertisement
According to the RICS, the popularity of modern artists such as Banksy, Damien Hirst and Peter Doig has pushed up the market.
Banksy's Laugh Now fetched ยฃ190,000 at Bonhams this year. At Christie's, Hirst's A Beautiful Thing fetched ยฃ580,000.
"The arts and antiques market remains a viable investment option during this period of financial uncertainty," said Christopher Ewbank of the RICS. "Many investors are using their disposable incomes to buy in at the high end with the hope that value will continue to stay firm while stocks and bonds ebb and flow.
At the bottom of the market there was less activity, with only four per cent more surveyors reporting a price rise for lots worth less than ยฃ1,000.
The RICS concluded that the financial conditions had caused amateur arts enthusiasts to rein in their spending.
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Art sales soar despite credit crunch, by skitch on Apr 22, 2008 22:15:18 GMT 1, tell me something new..........zzzzzzzzzzzzzzzzzzzzzzzzzzzzz
2008
art=money
stock market=loss
tell me something new..........zzzzzzzzzzzzzzzzzzzzzzzzzzzzz
2008
art=money
stock market=loss
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bullet
Blank Rank
Posts โข 0
Likes โข 16
January 2013
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Art sales soar despite credit crunch, by bullet on Apr 22, 2008 22:53:47 GMT 1, Does anyone else find that phrase 'CREDIT CRUNCH' a completely wanky phrase made up by a load of marketeers.
I hate bullshit titles, just call it a recession and be done with it
Does anyone else find that phrase 'CREDIT CRUNCH' a completely wanky phrase made up by a load of marketeers.
I hate bullshit titles, just call it a recession and be done with it
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Art sales soar despite credit crunch, by felix on Apr 22, 2008 23:00:15 GMT 1, I am going to produce the 'credit crunch' as a new cereal made from credit cards, berries and nuts and make a mint.
I am going to produce the 'credit crunch' as a new cereal made from credit cards, berries and nuts and make a mint.
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bullet
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January 2013
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Art sales soar despite credit crunch, by bullet on Apr 22, 2008 23:07:20 GMT 1, I think i hate it as much as the phrase 'WAGS'
Made up by some t**t at the sun.... waaaaaaahhaay, footie footie footies, curry waaaaaay.
bunch of monkeys.
Read a great story this week about the police manuals referring to the public as customers and it included a story of of over the top made up job titles.
Where has all this come from? Its a trend at the moment to avoid the real name of things... ITS A RECESSION (ISH) what the fuck is a credit crunch....
I think i hate it as much as the phrase 'WAGS'
Made up by some t**t at the sun.... waaaaaaahhaay, footie footie footies, curry waaaaaay.
bunch of monkeys.
Read a great story this week about the police manuals referring to the public as customers and it included a story of of over the top made up job titles.
Where has all this come from? Its a trend at the moment to avoid the real name of things... ITS A RECESSION (ISH) what the fuck is a credit crunch....
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Art sales soar despite credit crunch, by skitch on Apr 22, 2008 23:08:53 GMT 1, great call j boy!
great call j boy!
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Art sales soar despite credit crunch, by Guest on Apr 22, 2008 23:10:55 GMT 1, i think it refers to people putting their credit cards into cash machines, for them to be returned mashed!! 
i think it refers to people putting their credit cards into cash machines, for them to be returned mashed!! |
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Prescription Art
Art Gallery
Junior Member
Posts โข 3,145
Likes โข 1,210
November 2007
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Art sales soar despite credit crunch, by Prescription Art on Apr 22, 2008 23:23:21 GMT 1, I can't stand this term 'credit crunch' eitherl. But being pedantic, we're not actually in recession - which is defined by two or more successive quarters of negative GDP growth.
<takes off pedantic hat>
EDIT: Thirteen years on, I finally find a use for that economics degree.
I can't stand this term 'credit crunch' eitherl. But being pedantic, we're not actually in recession - which is defined by two or more successive quarters of negative GDP growth.
<takes off pedantic hat>
EDIT: Thirteen years on, I finally find a use for that economics degree.
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spirit
Junior Member
Posts โข 2,956
Likes โข 516
August 2007
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Art sales soar despite credit crunch, by spirit on Apr 22, 2008 23:40:18 GMT 1, Where has all this come from? Its a trend at the moment to avoid the real name of things... ITS A RECESSION (ISH) what the f**k is a credit crunch....
A credit crunch and recession are different things - credit crunch refers to the unwillingness of banks to lend money, even to each other, because of their unknown exposure to bad mortgage debt (particularly sub prime mortgages in the US).
Where has all this come from? Its a trend at the moment to avoid the real name of things... ITS A RECESSION (ISH) what the f**k is a credit crunch.... A credit crunch and recession are different things - credit crunch refers to the unwillingness of banks to lend money, even to each other, because of their unknown exposure to bad mortgage debt (particularly sub prime mortgages in the US). |
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bullet
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January 2013
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Art sales soar despite credit crunch, by bullet on Apr 22, 2008 23:46:45 GMT 1, Where has all this come from? Its a trend at the moment to avoid the real name of things... ITS A RECESSION (ISH) what the f**k is a credit crunch.... A credit crunch and recession are different things - credit crunch refers to the unwillingness of banks to lend money, even to each other, because of their unknown exposure to bad mortgage debt (particularly sub prime mortgages in the US).
I could not give less of a shit what it means,
i hate the way its used to describe everything at the moment.
FOR SALE: BANKSY CREDIT CRUNCH.
Where has all this come from? Its a trend at the moment to avoid the real name of things... ITS A RECESSION (ISH) what the f**k is a credit crunch.... A credit crunch and recession are different things - credit crunch refers to the unwillingness of banks to lend money, even to each other, because of their unknown exposure to bad mortgage debt (particularly sub prime mortgages in the US). I could not give less of a shit what it means, i hate the way its used to describe everything at the moment. FOR SALE: BANKSY CREDIT CRUNCH. |
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spirit
Junior Member
Posts โข 2,956
Likes โข 516
August 2007
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Art sales soar despite credit crunch, by spirit on Apr 22, 2008 23:50:02 GMT 1, A credit crunch and recession are different things - credit crunch refers to the unwillingness of banks to lend money, even to each other, because of their unknown exposure to bad mortgage debt (particularly sub prime mortgages in the US). I could not give less of a s**t what it means, i hate the way its used to describe everything at the moment. FOR SALE: BANKSY CREDIT CRUNCH.
Sorry, when you said WTF is a credit crunch, I thought you wanted to know what a credit crunch was...
A credit crunch and recession are different things - credit crunch refers to the unwillingness of banks to lend money, even to each other, because of their unknown exposure to bad mortgage debt (particularly sub prime mortgages in the US). I could not give less of a s**t what it means, i hate the way its used to describe everything at the moment. FOR SALE: BANKSY CREDIT CRUNCH. Sorry, when you said WTF is a credit crunch, I thought you wanted to know what a credit crunch was... |
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Art sales soar despite credit crunch, by Guest on Apr 22, 2008 23:51:01 GMT 1, For sale. HUTCH CREDIT CRUNCH. Interested now? ;D 
For sale. HUTCH CREDIT CRUNCH. Interested now? ;D |
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bullet
Blank Rank
Posts โข 0
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January 2013
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Art sales soar despite credit crunch, by bullet on Apr 22, 2008 23:53:58 GMT 1, Where do i pay? ;D
I genereally use the term WTF for something i think is rubbish, i appreciate the thesis on what it means, but way over the head and into next doors garden.
Where do i pay? ;D
I genereally use the term WTF for something i think is rubbish, i appreciate the thesis on what it means, but way over the head and into next doors garden.
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seidbereit
Junior Member
Posts โข 1,743
Likes โข 5
November 2007
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Art sales soar despite credit crunch, by seidbereit on Apr 23, 2008 15:16:58 GMT 1, I thought chartered surveyors were strange little beardy men who told you you have dry rot and rising damp.
Don't understand the survey at all... pieces over 5k good? under 1k not so good? WTFITSTM?
I thought chartered surveyors were strange little beardy men who told you you have dry rot and rising damp.
Don't understand the survey at all... pieces over 5k good? under 1k not so good? WTFITSTM?
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spirit
Junior Member
Posts โข 2,956
Likes โข 516
August 2007
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Art sales soar despite credit crunch, by spirit on Apr 23, 2008 15:56:23 GMT 1, I thought chartered surveyors were strange little beardy men who told you you have dry rot and rising damp. Don't understand the survey at all... pieces over 5k good? under 1k not so good? WTFITSTM?
I think the point they were making is that the buyers at the lower end of the market are affected by the current economic situation more than those at the higher end. Therefore there are less buyers around at the under 1k mark and so prices are dropping off a bit. Whereas at the higher end lots of people are taking money from stocks and putting them into art therefore prices are holding/rising.
I thought chartered surveyors were strange little beardy men who told you you have dry rot and rising damp. Don't understand the survey at all... pieces over 5k good? under 1k not so good? WTFITSTM? I think the point they were making is that the buyers at the lower end of the market are affected by the current economic situation more than those at the higher end. Therefore there are less buyers around at the under 1k mark and so prices are dropping off a bit. Whereas at the higher end lots of people are taking money from stocks and putting them into art therefore prices are holding/rising. |
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Art sales soar despite credit crunch, by bankruptcreative on Apr 23, 2008 16:19:21 GMT 1, Yes, I think this is what the research shows regarding pricing. It seems fairly likely that if art, like other purchases, has been bought on credit that the lower end will be hit initially.
I am quite confused why RICS are doing this research though? Have their members always covered these areas?
Perhaps the property industry is planning a mass career move and we'll see estate agents selling art or becoming galleries? (Please don't let that be true!)
I also think as Dirk said that art purchases are becoming more mainstream, but what the public will choose to put their money into and to what extent economic problems will affect the trend is anyone's guess.
Yes, I think this is what the research shows regarding pricing. It seems fairly likely that if art, like other purchases, has been bought on credit that the lower end will be hit initially.
I am quite confused why RICS are doing this research though? Have their members always covered these areas?
Perhaps the property industry is planning a mass career move and we'll see estate agents selling art or becoming galleries? (Please don't let that be true!)
I also think as Dirk said that art purchases are becoming more mainstream, but what the public will choose to put their money into and to what extent economic problems will affect the trend is anyone's guess.
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Art-el
Art Gallery
Junior Member
Posts โข 1,708
Likes โข 5
May 2006
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Art sales soar despite credit crunch, by Art-el on Apr 23, 2008 16:30:12 GMT 1, WHEN MONEY SPEAKS ART IS SILENT
WHEN MONEY SPEAKS ART IS SILENT
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Art sales soar despite credit crunch, by bankruptcreative on Apr 23, 2008 17:07:19 GMT 1, In rare instances when the two worlds converge artists can make a living and be free to produce great things. Unfortunately money rarely comes without strings or agenda.
In rare instances when the two worlds converge artists can make a living and be free to produce great things. Unfortunately money rarely comes without strings or agenda.
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