Prof. Henrik Hanstein about investments in art

Six questions to Prof. Hendrik Hanstein, owner of Kunsthaus Lempertz, Cologne

Six questions to Prof. Hendrik Hanstein, owner of Kunsthaus Lempertz, Cologne

1st Can an investment in the arts be as worthwhile as an equity investment?

Hanstein: Investing in art is as good as those in shares and also offers the advantage that the yield is tax free.

2nd How safe is an investment in art?

Hanstein: The world's increasing interest in art comes across a market scarcer, especially in the Old Masters. This leads automatically to a long-term value guarantee.

3rd The production of art is currently extremely high, does supply not thereby exceed the demand?

Hanstein: Any image that goes to a museum or a public foundation, shortening the duration of the market supply.

4th Currently, there is a lot of talk about the protection of propert. Can art serve as a crisis protection?

Hanstein: Statements that the investment in art, which has allways to stand next to the interest in art, not in front of, especially in six-and seven-digits-objects, I consider nonsense. All times of crisis have proven that there are correspondingly fewer buyers for very expensive individual works. Rather, I believe that even in the mid five-figure and lower six figures such investments can be very interesting. It is in this area simply has more customers who can afford it.

5th Is contemporary art currently overvalued compared to the old masters?

Hanstein: It seems to me investing in old masters is very interesting, especially in comparison to contemporary art. We can already see that show some very well-known collector of contemporary art here and there for aesthetic and financial reasons show interest in early panel paintings.

6th In the last ten years the interest in contemporary art has exploded - so why put now on Old Masters?

Hanstein: All the older the pictures, the more distance, the more security and the more comparisons we have. You should not forget the still not enough known UNESCO Convention, in place since 2008 in over one hundred countries around the world. It says that the export of art in third countries, such as by the EU to Switzerland or the United States that is older than fifty years and more expensive than hundred and fifty thousand euro, the authorization of the competent ministry of education needs.
That means, the market within the European Union is due to the elimination of internal borders has become much larger and more complicated, but the EU borders for the import and export of art has become higher. This is by the customs authorities in Switzerland or the United States or in other third countries take increasingly serious. Therefor take care of your purchase invoices.