In a new issue of Stiftung & Sponsoring (SuS), Bertold Schmidt-Thomé and Maximilian Brazel talk about art as a crisis-proof asset.
In times of volatile stock markets, high inflation rates and fear of recession, art continues to establish itself as a new asset class. The hope: the acquisition of a crisis-proof asset. In addition to active investment decisions, art often finds its way into foundation assets through endowments and bequests of individual works or entire collections. In both scenarios, foundation managers are faced with the question of whether and how to do so.
In contrast to traditional investment assets, the management of works of art can prove to be complex and costly. This is particularly the case with very expensive or old works that require art historical care or restoration. This is where co-operation agreements with museums or art collections can provide useful relief. For contemporary art below the upper price segment, on the other hand, the administrative burden is usually limited to safe storage and, if necessary, insurance costs. This brings us to the best part of collecting: Art is for the eye! It is impossible to put a figure on the added value that tasteful works of art bring to a space. As well as adding emotional value for employees and visitors alike, art has always embodied a representative character and is a means of social distinction. Sometimes the beautiful can be combined with the useful.