CollectionSuites Presented “The Lucrative Art of Collecting”: The Business Beyond The Art
Since day one, CollectionSuites has driven towards crafting a community where collectors come together to share their experiences, passion and ideas. Beyond hosting traditional events, we create spaces that are meant to push the boundaries of collecting through networking and instructive events with industry connoisseur.
On June 20th, 2019, CollectionSuites hosted “The Lucrative Art of Collecting” event that was designed to educate guests on how to transform the passion of collecting into a lucrative business. Renowned industry experts and passionate collectors gathered together to network and share key knowledge on how to structure and build a solid collection that will gain value over time.
Our guest speakers included distinguished antique and luxury car investment specialist, Benjamin Bohn, art curator and visionary Jorge Luis Gutierrez, and renowned trust and estate, and private client attorney Beth Tractenberg. Financial consultant and automobile enthusiast, Hannes C. Grascher, led the dynamic and insightful discussion where our presenters explored trends on arts and cars and discussed the value of investing in a collectible nowadays.
Bernard Bohn, addressed the benefits of acquiring luxury and exotic automobiles versus other investments. “Since 2008, the stock market has shown major volatility, while the luxury automobile investments have proven solid, showing a steady growth” explained Bohn. He also shared valuable advice on how to build a well-structured collection: “Diversifying your investment portfolio is key. Varying in style, design, year and brand when purchasing collectibles, is essential,” said Bohn.
Beth Tractenberg, who has extensive experience advising high-net-worth individuals on estate planning, tackled the importance of organizing and legally structuring investments. “Right now, assets over 11.4 million dollars are subject to 40% federal estate tax, so if people don’t plan properly with their collections, then everything they have when they die will be subject to the 40% tax,” explained Tractenberg.
DORCAM Museum curator and art expert Jorge Luis Gutierrez, explained the value of investing in art pieces and making your hobby and passion work for you. “Historically, since the 20th century, the art market has consistently gone up and it has never gone down. Last year it went up 6%,” said Gutierrez.