smart luxury | private museums & the sharing of art & knowledge

“We wish to share and interact with more people and encourage our friends to share their collections too. Only thus we can grow and learn from each other.”

Wanwan Lei and Li Han of Beijing share their motivation for opening their collection to the public through the establishment of a private art museum.

Larry’s List predicts that private museums,  70% of which have been founded since the year 2000 and whose resources and funding do not rely on public support, will increasingly cooperate with each other in the future.

Networks have been founded to increase partnerships between private museums in support of the loaning of works of art, the presentation of traveling exhibitions, and the sharing of knowledge.

See:

Private Art Museum Report” | Larry’s List, December 2015

Larry’s List is launching the Private Art Pass 2017 – The Ultimate Privilege Card for the Art World” | Larry’s List

#art #collections #collectors #privatemuseums #realestate #resilience #finance #smartluxury #luxury #urbanluxury

urban luxury | crisis & opportunity

Urbanist Richard Florida posits a “new urban crisis.” He defines the new urban crisis as the “back-to-the-city movement of the affluent and the educated.”

The New Urban Crisis is a “fundamental feature of larger, denser, richer, more high-tech, more creative-class cities and metro areas.”

A central contradiction stands at the heart of today’s urbanized form of knowledge capitalism writ large. The very same clustering of talent, business, and economic capability in large, dense, knowledge-based places also carves deep divisions into our cities and society.

In next posts, we’ll work to de-code Professor Florida’s thinking, the term “urban crisis,” and the state and economies of our cities.

“Crisis” may point towards opportunity. Opportunity both on the individual level for reflection, growth, learning, and change and for collaborative work amongst individuals, companies, and institutions towards creative solutions.

See:

Mapping the New Urban Crisis” | Richard Florida, CityLab, 13 April 2017

#urbanluxury #smartluxury #luxury #resilience #realestate #education #urbancrisis #urbanism

non-smart luxury | investors & retailers slug it out on Madison Avenue

The Real Deal points out that as of May 2016, the amount of available retail space along Manhattan’s Madison Avenue had been growing. Retailers with financial wherewithal were looking elsewhere.

New owners had  bought Madison Avenue properties at record prices. Investors, partners and banks were preventing the new owners from leasing to retailers below certain “pro-forma” numbers. Rents were increasing steeply.

The effect did other than than satisfy investment requirements. As asking rents broke $2,200 per square foot in prime stretches of Madison Avenue, retailers who might otherwise have taken space there were looking for alternative locations.

Retail insiders said some of the buyers who acquired properties over the last year or two at eye-popping prices have their hands tied by investors, partners or banks who won’t let them lease to retailers below certain target amounts or “pro forma” numbers. That, they say, is exacerbating availabilities.

“New owners who bought at record prices that required record rents are less likely to cut pricing because they can’t satisfy their investment returns,” said Jeremy Ezra, a broker at RKF.

But brokers said this slowdown is different from the recession in 2009 and 2010 when retailers did not have the financial wherewithal to make deals. That’s not the case today.

See:

Madison Avenue retail empties out” | retail spaces on the tony stretch are clearing out as rents get too high and tenants look for cheaper options, Adam Pincus, The Real Deal, 1 May 2016

#luxury #urbanluxury #smartluxury #realestate #retail #resilience #MadisonAvenue #Manhattan #finance

smart luxury | Tesla surpasses Ford & GM in market value

Tesla has surpassed Ford and GM in market value.

Investors investors are betting that the world’s appetite for electric vehicles will continue to grow and that Tesla will grow with it.

Although the big automakers are financially healthy and produce the best-selling types of vehicles, like trucks and sport utility vehicles, they are perceived as lagging in cutting-edge technology like alternative power and autonomy.

See:

Tesla Hits a New Milestone, Passing G.M. In Valuation” | The New York Times, 10 April 2017

Tesla

#luxury #urbanluxury #smartluxury #energy #smartenergy #alternativepower #Tesla #resilience #finance #automobiles #transit #smarttransit #urbanplanning #design #climatechange #art #smartart #collectionsmanagement #realestate

art & architecture | Selldorf Architects designs new premises for Berlin’s Esther Schipper

New York’s Selldorf Architects is designing the new gallery in Berlin’s Potsdamer Strasse gallery district for Esther Schipper.

The new Esther Schipper gallery address is:

Esther Schipper
Potsdamer Strasse 81
10785 Berlin

The gallery will be newly situated in a former printing and warehouse facility. The premises offer a 5,800-square-foot exhibition space split into a large primary room and a smaller, 1,500-square-foot space.

See:

New Project: Esther Schipper gallery in Potsdamer Strasse” | Selldorf Architects, 1 March 2017

We are moving!” | Esther Schipper

#art #artcollections #luxury #urbanluxury #architecture #realestate #Berlin

smart art | collections storage

The American Alliance of Museums will meet on Sunday, May 7 to discuss “sustainable collections storage, strategies for our future.”

Facing increased energy costs, changing standards, and issues brought about by climate change, institutions are reevaluating their facilities, collections storage, and operations.

The May 7 discussion will include a review of building site and architecture, environmental control systems, lighting, and waste.

Speakers will explore practical, pressing, and efficient measures to reduce carbon footprints while maintaining the paramount goal of preserving collections.

See: “Sustainable Collections Storage: Strategies for our Future” | American Alliance of Museums, 2017 Annual Meeting & MuseumExpo

#art #artcollections #collections #collectionsmanagement #artstorage #collectionsstorage #smartart #luxury #smartluxury #urbanluxury #resilience #realestate #museums

smart art | preventive conservation in China

Based on a nationwide investigation of the current state of preservation of museum objects in China, around 51% of the 35 million museum objects show different degrees of deterioration.

In China’s present situation, preventing damage to museum objects is much more cost-effective than allowing damage to happen and then treating it.

By 2013, the number of museums in China had increased to 3354 from 3055 in 2012, among which the number of private museum is 811. The number of museum visitors annually is 600 million.

Based on China’s national long-term outline plan for museum development (2011‒2020), we expect that by 2020 there will be one museum for every 250 000 people, compared to one per 400 000 in 2014, and that 20% of museums will be privately funded.

Owing to the impressive number of museums opened in the twentieth century, a large number of objects has been accumulated and has often been left in unsuitable environments, resulting in irreversible damage. Treatment of individual objects cannot meet the ever-increasing demand.

Rather than treatment after they show signs of degradation, looking for preventive conservation solutions becomes the most important museum function.

See:

Overview of preventive conservation and the museum environment in China” | Nan Feng, Research Center for Chinese Frontier Archaeology, Jilin University, Changchun, China, published online on 12 August 2016

#art #artcollections #smartart #smartluxury #urbanluxury #collectionsmanagement #China #museums #preventiveconservation #realestate #airpollution #climatechange #risk #riskmanagment

 

urban & street art | challenging paradigms

Christian Utz is co-founder of 52Masterworks, a crowd investment art collection platform that serves art collectors and investors.

In 2016, Mr. Utz opened the Museum of Urban and Contemporary Art (MUCA) In Munich.

Speaking with Larry’s List, Christian Utz describes urban and street art, their challenge to paradigms of high and low art, the limited access to (supply of) this form of art, and how urban and street art are largely neglected by current art discourse.

Urban Art reaches beyond any niches. Urban artists often use harsh imagery associated with neglected topics. But, whilst the message is provoking, it is equally approachable and sometimes even compassionate. In the world of urban art, everyone is welcomed to join the artistic conversation – that makes this art form so special.

Street Art challenges the paradigms between high and low art. The consequences of the institutionalization of this art form are the limitation of access to artworks, and especially, the volatility of market prices. I guess it has become much harder for new starters to collect than ten years ago.

Street art as an art form of the 21st century is rightly considered as a globally celebrated phenomenon. Nevertheless, street and urban art is barely part of the present art discourse.

See:

The Collector Who Founded Germany’s First Urban Art Museum | Larry’s List, 22 March 2017

52Masterworks

Larry’s List

Museum of Urban and Contemporary Art (MUCA)

#art #artcollections #streetart #urbanart #collectingart #collectionsmanagement #smartart #urbanluxury #smartluxury #resilience #investing #finance #tech

smart prosperity | capitalizing on urban resilience

Prosperity will ultimately belong to cities and nations around the world that find ways to capitalize on strategies of resilience against the inevitable impact of climate change.

Those cities will retool themselves for new technologies and global businesses whose employees, reflecting a growing worldwide generational shift, want to walk, ride bikes and take mass transit.

“The challenge …is taking the long view.’

See: “Changing Climate, Changing Cities; Rising Waters Threaten China’s Rising Cities” | Michael Kimmelman, The New York Times, 7 April 2017

#urbanluxury #luxury  #smartluxury #realestate #resilience #urbanplanning #design #development #finance #climatechange

smart art | purchase channels, concentrations, information asymmetries

By analyzing the performance of early-20th-century British economist John Maynard Keynes’ art collection, and comparing the collection with the simulated performance of thousands of hypothetical art portfolios, economists David Chambers, Elroy Dimson, and Christophe Spaenjers have found that the art market is structured much like a lottery.

Relatively few winners (artists and their collectors) reap enormous gains; the majority of artists are marginal to the overall value of the market.

The Keynes collection was studied as “one of only two complete, or near-complete, financial records of an art collection from initial purchase to final valuation.”

The analysis and comparison with hypothetical portfolios reveals several features of the Keynes collection with implications for the broader market:

  • Purchase channel. Paintings and drawings by Degas, Cezanne, Picasso, and Braque—were largely purchased at auction, where Keynes may have spotted bargains. The works he acquired through other channels, through dealers and on the primary market, underperformed relative to his auction purchases.
  • Concentration. 80% of Keynes total spending on art went to just 10 works

“Changes in the total value of the Keynes collection are largely driven by changes in the market value of a few artists, such as Braque, Cezanne, Matisse, Picasso and Seurat. Conversely, what happens to all the lesser-known artists…is not an important driver of returns.”

The fact that much of the value of the Keynes portfolio lies in a small number of key works, and buying them required significant upfront investment, suggests that successful arts investment appears to be a pastime for the already well-capitalized.

Well-positioned and deeply informed insiders may, however, take advantage of the information asymmetries of the opaque art market, such as knowing when a work might become available or where a willing buyer lies, to effect savvy purchases and “buy low.”

See: “Keynes’s Art Collection Shows Why Art Investing Is Like the Lottery” | by Anna Louie Sussman, Artsy, 5 April 2017

#art #artcollections #luxury #smartluxury #urbanluxury #finance #resilience