SUCCESS FOR TFG CLIENT AT MAGNIFICENT JEWELS SALE
The Fine Art Group was thrilled to be able to share this important jewelry collection with Sotheby’s bidders. The jewelry collection was created in love and partnership between the consignor and his wife over many years. The couple collected a stunning array of unusual jewels by Cartier during one of the luxury brand’s most prolific periods of the 1980s/1990s, as well as high jewels by famed fashion house Dior, designed by Victoire de Castellane. The original estimation range was from $854,000 to $1,076,000, and the final sale total with an aggregate of $1,465,696.
We are so pleased that these pieces have found new and happy homes in the next chapter of their history.
THE JEWELRY COLLECTION
Total: $1,154,000
Original Estimate Range Total: $854,000-$1,076,000
SOLD JEWELRY LOT TOTALS (inclusive of aggregate):
- Eighteen karat yellow gold and diamond bracelet, Cartier: $69,850
- Eighteen karat yellow gold and diamond earrings, Cartier: $53,340
- Colored diamond and diamond earrings: $152,400
- Colored diamond and diamond ring: $190,500
- Eighteen karat yellow gold Bamboo bracelet and ring, Cartier: $44,450
- Pair of eighteen karat yellow gold and diamond Bamboo bracelets and earrings, Cartier: $60,960
- Colored diamond and diamond ‘Rose’ necklace and bracelet, Dior: $48,260
- Diamond ear clips, Dior: $69,960
- Ruby and diamond ring: $127,000
- Diamond riviere necklace: $177,800
- Eighteen karat yellow gold and diamond Babylon necklace, Cartier: $190,500
- Eighteen karat yellow gold and diamond Panther ring, Cartier: $33,026
- Eighteen karat yellow gold and diamond bracelet and ear clips, Cartier: $69,850
- Eighteen karat yellow gold jewelry suite, Cartier: $38,100
- Eighteen karat yellow gold and diamond Panther suite, Cartier: $139,700
Highlights From the CLIENTS’ SOLD COLLECTION
Click here to view the rest of the sold collection, lots 1 to 16.
Suspending two cushion-modified brilliant-cut Fancy Vivid Yellow diamonds weighing 3.03 and 3.02 carats, framed and accented by round near-colorless diamonds and diamonds of yellow hue
Magnificent Jewels
Sotheby’s, New York
June 13, 20223
Lot 3
ESTIMATE: $100,000 – $150,000
SOLD: $152,400
Centering a square modified brilliant-cut Fancy Intense Yellow diamond weighing 10.27 carats, flanked by two triangle-shaped diamonds.
Magnificent Jewels
Sotheby’s, New York
June 13, 20223
Lot 4
ESTIMATE: $100,000 – $150,000
SOLD: $190,500
Two sprung cuffs are accented by round diamonds, accompanied by a similarly designed pair of earclips, total gross weight of approximately 89 dwts,
Magnificent Jewels
Sotheby’s, New York
June 13, 20223
Lot 6
ESTIMATE: $22,000 – $28,000
SOLD: $60,960
The pendants, topped by floral and bow motifs, set throughout with variously cut diamonds, signed Dior, numbered 074388, with French assay and workshop marks.
Magnificent Jewels
Sotheby’s, New York
June 13, 20223
Lot 8
ESTIMATE: $12,000 – $18,000
SOLD: $69,960
Centering a cushion-cut ruby weighing 8.22 carats, framed by pear-shaped diamonds
Magnificent Jewels
Sotheby’s, New York
June 13, 20223
Lot 10
ESTIMATE: $60,000 – $80,000
SOLD: $127,000
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OUR SERVICES
Offering expert Advisory and Sales Agency services across sectors, our dedicated Jewelry Advisory Team combines strategic insight with transparent advice to guide our clients seamlessly through the market. We always welcome the opportunity to discuss our strategies and services in depth.
Images: All images courtesy of Sotheby’s.
Patti Wong, founder of Patti Wong & Associates, is profiled by Penta Magazine, an imprint of Barron’s. She discusses her incredible over 30-year-long career, her impact on Asia’s rising art market, and the opening of her new Hong Kong-based advisory business Patti Wong & Associates.
Click here to read the full article on PENTA on Barron’s.
Full article
Philip Hoffman and Freya Stewart recognized by Spear’s Magazine
The Fine Art Group is honored to have Philip Hoffman and Freya Stewart recognized by Spear’s Magazine as top recommended professionals in their fields, Art Advisory and Art Finance. They have been ranked as experts in the art market and art finance industry for high-net-worth individuals in the UK.
VIEW EACH LIST AT SPEAR’S MAGAZINE
Spear’s 500 Best Art Advisors List
Spear’s 500 Best Art Finance Advisor List
Originally published on Tiger21.com, May 31, 2023
ANITA HERIOT DISCUSSES ART INVESTMENT & THE STRUCTURES AVAILABLE TO COLLECTORS
Investing in art has become an increasingly popular way to diversify investment portfolios. Over the last 10 years – apart from the disruption during the Covid pandemic – the art market has consistently outperformed the S&P 500.
However, post-Covid, the art market declined less than the anticipated 22% in 2022. In the second half of the year, it bounced back to stronger than pre-pandemic levels. This proves that the value of art is not necessarily subject to the same fluctuations as the global economy. Hence, it can be used as a sound hedge against inflation and recession.
Further to the potentially high returns (the average annual return across all The Fine Art Group’s investments is 14%, versus the average annual return of 8.9% on the S&P 500), investing in art can be a means to support local and global cultural institutions, to pursue the passion of collecting, and to establish a legacy. For more on creating a legacy through art collecting, read our blog.
What type of art should I invest in?
For investors, the right piece of art is critical to a positive return. In recent years, the market has seen a shift towards contemporary art. Works by emerging and mid-career artists are gaining popularity and driving up sales. In 2020, contemporary art accounted for 55% of total sales, up from 49% in 2019.
Returns rely heavily on purchasing the right artwork – the right artist, subject matter, condition, size, and countless other criteria. Advisors can help investors navigate the market to source the right artwork, negotiate optimal prices, arrange tax-efficient storage as required, and eventually purchase the piece. For key criteria to consider when investing in art, click here.
Different Investment Structures for Investing in Art
In recent years there has been a surge in the number and types of structures available through which to invest in art. An art advisor, especially with experience in the art investment space, can be very well placed to guide investors. They not only provide due diligence on the investment structure, but offer a more granular level of advising on the artwork and the price level at which it is purchased.
Art Funds
Art funds are investment vehicles that allow investors to pool their money together to buy art. These funds are managed by professional investment managers who have expertise in the art market. Art funds can provide investors with access to a diverse range of artworks, as well as provide professional management and expertise. However, they often require high minimum investments and charge high fees due to the requirements to have audits and general partners overseeing the fund.
Private/Direct Investment
Private accounts are managed by individual investors (or their advisors) who buy and sell art on their own. This art investment method requires a significant amount of expertise and knowledge of the art market, as well as access to private auctions and galleries. Private accounts can provide investors with greater control over their art investments. However, they also require a substantial amount of time and effort. An advisor can alleviate the requirement for the investor themselves to source, negotiate, and carry out due diligence on every artwork.
Fractionalization
Fractionalization allows investors to own a portion of a larger artwork. This can provide investors with access to valuable works that they may not be able to afford on their own. Fractionalization can also allow investors to diversify their art portfolios, as they can invest in multiple artworks with smaller amounts of capital. However, fractionalization can be complicated, and fees can be high.
Co-Investment
Co-investment allows investors to pool their money together to buy a single artwork. This can provide investors with access to larger, masterpiece artworks that they may not be able to afford on their own. Co-investment can also allow investors to share the risks and rewards of an investment with others. However, like fractionalization, co-investment can be complicated and does require legal expertise to set up.
How To Invest Sensibly in Art
With the influx of players into the art investment market and greater choice for the investor also comes an increasing number of pitfalls for investors to navigate. Read our tips on how to buy art like an expert, and mistakes to avoid, here.
For investors wishing to pursue investment themselves — via a private/direct investment — it may be prudent to find an advisor who can provide thought-leadership, education, and access in the art market, a notoriously opaque market to penetrate.
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- The Fine Art Group’s Art-Secured Financing Solutions Continue to Meet Increasing Client Demand
Learn, Access, Connect: TIGER 21 Members gain access to expert insights from global thought leaders at the top of their field. For more on the TIGER 21 Member Experience, click here.
Nothing contained in this article shall constitute, or should be construed as, constituting investment advice or a recommendation by any of the authors, “Anita Heriot” her company, “The Fine Art Group,” or TIGER 21.
THE FINE ART GROUP EXPANDS REACH TO AUSTRALIA AND NEW ZEALAND
The Fine Art Group is the largest art advisory company in the world. Its new alliance with Australian-based Roger McIlroy takes its reach into the Pacific region as McIlroy accepts position as Chairman, TFG, Australia and New Zealand.
TFG Founder and CEO, Philip Hoffman says, ‘Roger has achieved an international reputation for excellence in the art world and is one of the most trusted individuals in the field. His experience, knowledge and extensive global networks make him the ideal new TFG senior resource in the region and we are delighted to have him join the team’.
Roger’s successful 30-year association with Christie’s led to the establishment in Australia of his leading independent art advisory business. Equally recognized for his expertise in the fine art auction room, Roger will continue his prominent role as head auctioneer of Deutscher+Hackett, Australia’s top auction house.
ART CONTINUES GLOBAL GROWTH AS ALTERNATIVE ASSET
This exciting new collaboration between TFG and Roger McIlroy reflects the global growth of art as a recognized alternative asset. TFG is the first international art group to respond to this shift and to move into Australia and New Zealand, providing unrivalled service and access to all aspects of the international art market. This development follows TFG’s expansion into Asia through a joint venture with former Sotheby’s executives Patti Wong and Daryl Wickstrom, and their collaboration with preeminent New York art advisor Allan Schwartzman and his team at Schwartzman&.
In Australia and New Zealand, Roger McIlroy will work in association with TFG Vice President, Leticia Hoffman, a member of TFG since 2014. With over a decade of experience in the art world, Leticia has handled some of the world’s finest artworks, gemstones, and jewels. Notably, Leticia aided with the sale of the Cartier ‘Sky Blue Diamond’ for $18 million.
With their combined skills and expertise, Roger and Leticia will continue to deliver private and corporate clients informed advice for the management, building, care and development of their art and tangible asset collections. Roger’s and TFG’s international alliances provide unrivalled leverage, offering Australian clients premium opportunities to sell, buy and secure finance across diverse categories within the art market.
Roger and Leticia will be supported by a team of 80 specialists and advisors from around the world, covering virtually every type of collecting category and available to provide ready assistance.
GLOBAL ART SERVICES POWERHOUSE
For over two decades, TFG has maintained an unrivalled track record across the art world. TFG helps clients navigate all aspects of the art market, from providing assistance with collection strategies, acquisitions, appraisals and the selling of works of art, through to art financing. This new collaboration with Roger McIlroy adds to the definition of TFG as an art industry innovator now available to meet new market demands in the Pacific region.
Download the full press release here.
This spring signed jewels and stunning gemstones take focus at Sotheby’s, Christie’s, and Phillips. Such an abundance of property on the market can cause buyer whiplash. Please join Senior Specialist and Director of Jewelry and Watches for The Fine Art Group, Kate Waterhouse, while she presents her ‘Top Picks’ from the spring season for New York’s Luxury Week and ‘Lots to Watch.’
DATE
- Friday, June 2nd – 1PM EST
LENGTH
- 30 minutes
FORMAT
- Zoom webinar
PANELISTS
Newsfeed image credit: Luxury Week, May-June 2023 | New York. Courtesy of Sotheby’s.
Philip Hoffman, Founder and CEO of The Fine Art Group, speaks with Artnet News about the Sotheby’s Modern Evening Auction results and discusses what this could mean for the future of the art market.
Click here to read the full article on Artnet News.
Full article
Newsfeed image credit: Auctioneer Oliver Barker coaxing bids from the rostrum at Sotheby’s on May 16. Courtesy of Sotheby’s.
Morgan Long, Managing Director of The Fine Art Group, spoke with Barron’s about what the low number of guaranteed works at significant spring sales may suggest about current collectors, dealers, and auction houses.
Click here to read the full article on Barron’s
Full Article PDF
Newsfeed image credit: Gerhard Richter’s 4096 Farben, part of the artist’s Color Chart series. Tristan Fewings/Getty Images for Sotheby’s.
Salma Shaheem, Director of The Fine Art Group’s Middle East Office, speaks with Spear’s Magazine about the growing interest in fractional art investment.
Click here to read the full article and more about fractional art investment.
Full Article
Newsfeed image credit: Pablo Picasso’s Les Demoiselles D’Avignon in the Museum of Modern Art in New York City. Image: Shutterstock. Courtesy of Spear’s.
Watch Our Advisory Team’s Latest Art Market Webinar
The Fine Art Group’s Advisory Team is pleased to invite you to our latest State of the Art Market webinar. Our advisors share expert insight on navigating the New York May auctions, highlighting their top picks from the season.
PANELISTS
