Paintings of Andy Warhol, Pablo Picasso, Salvador Dali, Marc Chagall, Alexander Caider, Renoir, and Norman Rockwell Have Gone Up to 60,000%
Los Angeles, CA, April 15, 2009 --(PR.com)-- Stock Market have fallen, Houses prices have dropped.
"I was sitting at my desk the other day reading about the stock market. Once again a company I chose to buy was down in price, I was warned that this company was not going to meet the ‘expected’ numbers and their will be a ripple effect. Another day of the ups and downs of the stock market." - Koleen Washington
Wall Street - "This is the worst in the American stock market has been since Black Monday October 19, 1987." Washington continues, "Based on this horrendous start of the trading year, it appears as though an accelerated stock market crash may be underway for 2008. What's changed from last year? Frankly, I was surprised to see continued enthusiasm at the tail end of 2007 given the complete disintegration of the housing market, the lack of liquidity in the credit markets and warning prospects for continued growth locally. The recent unemployment numbers pegging the rate at 5% was a surprise to even the most pessimistic economists. Some would say we're actually already in a recession now. When the revisions are in and you look back, we may have already begun a true economic slowdown in the fall."
In the US, home price have declined more than 30% from their peak and even more in certain states. 2009 will probably see more declines as well. One positive tone from this for homeowners is that at least home prices are holding up better than the stock market.
Artist that were famous in life are more famous in death as their prices soar. Warhol's vision of Marilyn Monroe, bought for $250 dollars, selling for $15 million dollars. When this portrait of Marilyn Monroe was exhibited in Andy Warhol's first one-man show in New York in 1962. But now it is expected to make at least $15 million, a 60,000% fold jump increase. Others in this initial series of Monroe portraits included Gold Marilyn, Grape Marilyn, Mint Marilyn, Cherry Marilyn and Orange Marilyn, which sold in New York last year for $16.3 million.
A Picasso Cubist painting Arlequin had been expected to fetch over $30 million. Arlequin, which had not been seen in public for 45 years, depicts a harlequin resting his chin on one hand. It belonged to the Surrealist painter Enrico Donati, who died earlier this year aged 99. He bought it in Paris in the 1940s for $12,000 a 2500% increase return on his 68 years investment.
What is it about art that drives so many wealthy people to build collections? Personal interest only goes so far. Can sophisticated investors, including people such as David Rockefeller, Donald Maroon, and David Geffen, in addition to numerous hedge fund managers, really check their financial sense at the door? Or is art a better investment than we understand?
The Warhol's Marilyn Monroe paintings, have had quite a ride on the auction market, according to Art net's auction records. Shortly after Warhol's death, a mint-colored Marilyn was sold in 1988 for $332,500 (including the buyer's premium.) Ten years later, the price for an orange Marilyn ballooned to $2.7 million. In 2001, the same painting cost $3.746 million. In 2002, a lavender-colored Marilyn went for $4.6 million. Last fall, a collector paid $16.256 million for the same orange Marilyn that was sold in '98 and '01.
If you want to look at one of the five larger Marilyn's up close, you can see "Gold Marilyn," at Mom. The architect Phillip Johnson bought it from the artist in 1964 for $2,000 and donated it to the museum. If the museum wanted to raise money, the art market is confident that "Gold Marilyn" would fetch $60 million."
And if you bought a Warhol, as Johnson did, in the 1960s, you'd be a pretty sharp investor. Turning $2,000 in 1964 currency into $60 million in 2007 is, according to calculations 27.09% internal rate of return over the last 43 years. By comparison, gold itself sold for $35 an ounce in 1962 and $690 recently, which represents a return of 6.85%. Other safe-haven investments like the Dow Jones Industrials or the S&P 500 would give you slightly better returns of 7.07% and 7.44% over the same period. (That these calculations don't include dividends, which could add another 3%.)
It so happens that 1962 was also the year Warren Buffet began accumulating stock in Berkshire Hathaway. He paid $8 a share; the current price is $109,000. That's the big leagues of investing, a 23.56% return. But if "Lemon Marilyn" goes for $20 million, that far-sighted collector will wind up with a gain of 28.52% every year for 45 years.
Warhol isn't the only artist worth investing in, David Rockefeller sold his Mark Rothko, "White Center (Yellow, Pink, and Lavender on Rose)," which the financier acquired from the artist for $10,000 in 1960. The hammer price was $65 million, which would be well above 20% for each of the 47 years.
The saying is If a artist is well - known in life, he will become more famous in death, Van Gogh, Dali, Picasso, Warhol, and Lichtenstein never saw their art in auction houses commanding the high prices while their were alive. Fine art is making huge financial news, with super-collector Ronald Lauder paying $135 million for a Gustav Klimt painting and Sotheby's and Christie's posting gigantic numbers at their Impressionist and Modern art auctions.
Retired real estate developer Mr. Rosen has a Pablo Picasso in his hallway, a Jasper Johns in the living room, 22 Steve Kaufman all thru his home. The secret is to purchase artist art is when the artist is still alive and the paintings are still very reasonable. Steve Kaufman is the former assistant to Andy Warhol. Kaufman's "Marilyn" had gone up 1000% in 10 years. When Steve Kaufman had a major stroke, his cholesterol was 576, he flat line died. He was paralyzed on the side of his body. All his paintings prices had triple over night, over the 3 months after his stroke his prices had soars to 1000% and then Mr. Kaufman had to re-teach himself to walk and speak. With a full recovery from his stroke all Kaufman's prices came back to earth.
"I've collected Andy Warhol paintings from 1969 to 1977. Bought a Warhol's "Marilyn Monroe" for $10,000 and later sold it for $5 Million dollars. I'm retired now, but I've bought 179 Steve Kaufman paintings for my grandkid's future" John Paul Loop, Art Collector
When Andy Warhol died the art market was good, but as Andy Warhol's paintings went from client's home to auctions house the art market wasn't hungry, it was ravenous. When Kaufman had a stroke and clients called to ask about this new artist that was amazing that history was going to repeat itself. Charles Green Art Auctioneer.
At least there is the comforting feeling that when you wake up in the morning and turn on the TV you will not see two gentlemen seated at a desk discussing the reasons why your Warhol, Picasso painting has just dropped 50 points on disappointing earnings.
In recent years, financial whizzes have created investment products surrounding all sorts of stock, bond, and commodity indices. But there's been little effort to turn art into a security. In the 1970s, the British Rail Pension fund, with Sotheby's assistance, famously committed about $70 million to fine art. The huge portfolio it built up came to include works by Canaletto and El Greco and proved quite profitable—a compound annual return of 11.3 percent between 1974 and 1999. As Scott Reyburn notes, Britain's rail workers were fortunate that the fund chose to cash in a bunch of Impressionist and Modern works at the height of the bubble in April 1989.
It’s very important to get the proper Art Consultant, to pick out art that may go up in value, and the art the client would enjoy. Consumers have been using stockbrokers who have been wrong lately in their client investment decisions. Koleen Washington has been an art consultant for over 45 years, she knew Warhol sold Warhol, she knew Dali sold Dali, she knew Picasso sold Picasso, and she knew Haring sold Haring before they died, making her clients very wealth.
Contact: Koleen Washington Art Consultant telephone # 310 721 2965
email: Koleenwashington@gmail.com Mailing address: 1006 Doheny Drive West Hollywood, CA 90069
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"I was sitting at my desk the other day reading about the stock market. Once again a company I chose to buy was down in price, I was warned that this company was not going to meet the ‘expected’ numbers and their will be a ripple effect. Another day of the ups and downs of the stock market." - Koleen Washington
Wall Street - "This is the worst in the American stock market has been since Black Monday October 19, 1987." Washington continues, "Based on this horrendous start of the trading year, it appears as though an accelerated stock market crash may be underway for 2008. What's changed from last year? Frankly, I was surprised to see continued enthusiasm at the tail end of 2007 given the complete disintegration of the housing market, the lack of liquidity in the credit markets and warning prospects for continued growth locally. The recent unemployment numbers pegging the rate at 5% was a surprise to even the most pessimistic economists. Some would say we're actually already in a recession now. When the revisions are in and you look back, we may have already begun a true economic slowdown in the fall."
In the US, home price have declined more than 30% from their peak and even more in certain states. 2009 will probably see more declines as well. One positive tone from this for homeowners is that at least home prices are holding up better than the stock market.
Artist that were famous in life are more famous in death as their prices soar. Warhol's vision of Marilyn Monroe, bought for $250 dollars, selling for $15 million dollars. When this portrait of Marilyn Monroe was exhibited in Andy Warhol's first one-man show in New York in 1962. But now it is expected to make at least $15 million, a 60,000% fold jump increase. Others in this initial series of Monroe portraits included Gold Marilyn, Grape Marilyn, Mint Marilyn, Cherry Marilyn and Orange Marilyn, which sold in New York last year for $16.3 million.
A Picasso Cubist painting Arlequin had been expected to fetch over $30 million. Arlequin, which had not been seen in public for 45 years, depicts a harlequin resting his chin on one hand. It belonged to the Surrealist painter Enrico Donati, who died earlier this year aged 99. He bought it in Paris in the 1940s for $12,000 a 2500% increase return on his 68 years investment.
What is it about art that drives so many wealthy people to build collections? Personal interest only goes so far. Can sophisticated investors, including people such as David Rockefeller, Donald Maroon, and David Geffen, in addition to numerous hedge fund managers, really check their financial sense at the door? Or is art a better investment than we understand?
The Warhol's Marilyn Monroe paintings, have had quite a ride on the auction market, according to Art net's auction records. Shortly after Warhol's death, a mint-colored Marilyn was sold in 1988 for $332,500 (including the buyer's premium.) Ten years later, the price for an orange Marilyn ballooned to $2.7 million. In 2001, the same painting cost $3.746 million. In 2002, a lavender-colored Marilyn went for $4.6 million. Last fall, a collector paid $16.256 million for the same orange Marilyn that was sold in '98 and '01.
If you want to look at one of the five larger Marilyn's up close, you can see "Gold Marilyn," at Mom. The architect Phillip Johnson bought it from the artist in 1964 for $2,000 and donated it to the museum. If the museum wanted to raise money, the art market is confident that "Gold Marilyn" would fetch $60 million."
And if you bought a Warhol, as Johnson did, in the 1960s, you'd be a pretty sharp investor. Turning $2,000 in 1964 currency into $60 million in 2007 is, according to calculations 27.09% internal rate of return over the last 43 years. By comparison, gold itself sold for $35 an ounce in 1962 and $690 recently, which represents a return of 6.85%. Other safe-haven investments like the Dow Jones Industrials or the S&P 500 would give you slightly better returns of 7.07% and 7.44% over the same period. (That these calculations don't include dividends, which could add another 3%.)
It so happens that 1962 was also the year Warren Buffet began accumulating stock in Berkshire Hathaway. He paid $8 a share; the current price is $109,000. That's the big leagues of investing, a 23.56% return. But if "Lemon Marilyn" goes for $20 million, that far-sighted collector will wind up with a gain of 28.52% every year for 45 years.
Warhol isn't the only artist worth investing in, David Rockefeller sold his Mark Rothko, "White Center (Yellow, Pink, and Lavender on Rose)," which the financier acquired from the artist for $10,000 in 1960. The hammer price was $65 million, which would be well above 20% for each of the 47 years.
The saying is If a artist is well - known in life, he will become more famous in death, Van Gogh, Dali, Picasso, Warhol, and Lichtenstein never saw their art in auction houses commanding the high prices while their were alive. Fine art is making huge financial news, with super-collector Ronald Lauder paying $135 million for a Gustav Klimt painting and Sotheby's and Christie's posting gigantic numbers at their Impressionist and Modern art auctions.
Retired real estate developer Mr. Rosen has a Pablo Picasso in his hallway, a Jasper Johns in the living room, 22 Steve Kaufman all thru his home. The secret is to purchase artist art is when the artist is still alive and the paintings are still very reasonable. Steve Kaufman is the former assistant to Andy Warhol. Kaufman's "Marilyn" had gone up 1000% in 10 years. When Steve Kaufman had a major stroke, his cholesterol was 576, he flat line died. He was paralyzed on the side of his body. All his paintings prices had triple over night, over the 3 months after his stroke his prices had soars to 1000% and then Mr. Kaufman had to re-teach himself to walk and speak. With a full recovery from his stroke all Kaufman's prices came back to earth.
"I've collected Andy Warhol paintings from 1969 to 1977. Bought a Warhol's "Marilyn Monroe" for $10,000 and later sold it for $5 Million dollars. I'm retired now, but I've bought 179 Steve Kaufman paintings for my grandkid's future" John Paul Loop, Art Collector
When Andy Warhol died the art market was good, but as Andy Warhol's paintings went from client's home to auctions house the art market wasn't hungry, it was ravenous. When Kaufman had a stroke and clients called to ask about this new artist that was amazing that history was going to repeat itself. Charles Green Art Auctioneer.
At least there is the comforting feeling that when you wake up in the morning and turn on the TV you will not see two gentlemen seated at a desk discussing the reasons why your Warhol, Picasso painting has just dropped 50 points on disappointing earnings.
In recent years, financial whizzes have created investment products surrounding all sorts of stock, bond, and commodity indices. But there's been little effort to turn art into a security. In the 1970s, the British Rail Pension fund, with Sotheby's assistance, famously committed about $70 million to fine art. The huge portfolio it built up came to include works by Canaletto and El Greco and proved quite profitable—a compound annual return of 11.3 percent between 1974 and 1999. As Scott Reyburn notes, Britain's rail workers were fortunate that the fund chose to cash in a bunch of Impressionist and Modern works at the height of the bubble in April 1989.
It’s very important to get the proper Art Consultant, to pick out art that may go up in value, and the art the client would enjoy. Consumers have been using stockbrokers who have been wrong lately in their client investment decisions. Koleen Washington has been an art consultant for over 45 years, she knew Warhol sold Warhol, she knew Dali sold Dali, she knew Picasso sold Picasso, and she knew Haring sold Haring before they died, making her clients very wealth.
Contact: Koleen Washington Art Consultant telephone # 310 721 2965
email: Koleenwashington@gmail.com Mailing address: 1006 Doheny Drive West Hollywood, CA 90069
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