Wednesday, June 11, 2014

Art investment jitters in Australia

Changes to the rules governing collectibles held in self-managed super funds (SMSFs) in Australia may trigger a flood of artworks onto the market with investors facing the possibility of their portfolios being sold at fire sale prices. According to art accountant and valuer Michael Fox there has already been a significant level of divestment of collections that he says could be explained by "a desire to seek a higher price for the artworks and collectibles before the market becomes depressed by an oversupply of artworks". Read more...
Image: Emily Kame Kngwarreye, Untitled (Awelye) 1995