The Often-Ignored Problem with Buying Art as an Investment

Is art a good investment? The recent mega-auctions in New York have brought out the siren song that art often outperforms other asset classes like real estate, while the Wall Street Journal declared that art achieved a 10.6 percent return in 2018 based on Art Market Research’s Art 100 Index, outpacing all other categories. One would think then that many savvy investors should be allocating funds to this glamorous asset class. Most art market pundits will advise collectors to “buy what you love,” and not speculate on making a profit on acquisitions, but nevertheless imply…

‘Art electricity’ revives old German power station

 A stained glass window over E-Werk’s main entrance. Photograph: Photo courtesy of Performance Electrics gGmbH When the Luckenwalde coal power plant in east Germany closed down soon after the collapse of communism, the locals were both relieved and concerned. “Finally people could hang out their laundry without it getting covered in soot,” said Bernd Schmidl, one of the plant’s senior employees. Worries about jobs were soon allayed when the workers were given better-paid employment elsewhere, he said. But fears remained that the listed building, with elements of art deco and art nouveau,…

Art Abounds In The $690 Million Renovation At Palms Casino Resort

Demon With Bowl by Damien Hirst at KAOS. PALMS CASINO AND RESORT The Palms Casino Resort in Las Vegas recently revealed the last major renovations as part of their $690 million overhaul. The remodel began in January 2017 shortly after Station Casinos purchased the property in 2016. This renovation features partnerships with several world-class brands including Clique Hospitality and Live Nation, as well as celebrity chefs Bobby Flay, Michael Symon and Marc Vetri. While the Palms is known for many things, one element that truly sets it apart is a world-class art collection that includes pieces by Damien…