Art Basel – 2015
At Axis Realty Trust we are proud to operate in Miami’s market. Due to the fact that Miami has a strong culture for art, which provides both depth and intangible value to the overall real estate market. We celebrate the cultural evolution of Miami over the last decade and we acknowledge that Art Basel has been a catalyst for this positive change.
Every year the first week of December, Miami becomes the richest city in artists and collectors. People from all over the world travel to participate in this sensational event that Miami provides to the art world.
Like real estate, art is an appreciating asset. Believe it or not, there’s only a handful of appreciating assets, as most assets are typically depreciating. It has its own pros and cons. Within the pros there is the fact that are has less carrying costs, i.e. no maintenance fees, nor property taxes. However it has no cash flow at all (with certain exceptions as collections that charge fees to get visited or that itinerate). Another con is that it is even more illiquid than real estate. They key is to pick the right artist, within the best period of such artist, and at the right market cycle. Therefore it is key to consult with a good art curator, the same way you would consult with an real estate advisor, when you decide to invest in real estate.
“For sophisticated investors, it is one more asset to consider. I’ve met with collectors that had unbelievable gains, with pieces appreciating tenfold over a decade.”
Basel is all about contemporary art. Therefore the concept is as important as the aesthetics. So if you like both the artist statement and the work itself, then you have an opportunity to consider. Obviously you must love it, as you will have to watch it every day. Then again, good advise and research can help determine how good of an investment it could be, before making the investment.
“Pair a nice property with a nice private collection and you will be building strong wralth, while enjoying the process.”
So welcome to Miami during Basel, the entire city is becoming a work of art. Should you need help in picking a great property, we are here to help. Should you want to invest in art, we will be happy to hook you up with reputable local curators and dealers.
And remember as the three most important things in real estate are location, location and location, in art the three are, artist, artist, artist.
The ART Team
Category : Blog