Diamonds, Art, Watches, Collectibles etc..

[winston]

When diamonds become girls' worst friends
Tue May 6, 2008 12:01pm EDT

By Jill Serjeant

LOS ANGELES (Reuters) - Diamonds may be forever. But what's a girl to do when she gets dumped or divorced and those rings, necklaces and love gifts lose their emotional sparkle?

Help is just a click away on new Web sites that provide an outlet for selling jewelry from past relationships, sharing break-up stories and helping broken hearts heal.

"You go through a divorce. What do you do with that ring? Maybe you have a child you can pass it on to. Maybe you don't. It just sits there," said Marie Perry, who with her stepdaughter Megahn Perry runs http://www.exboyfriendjewelry.com.

"We wanted to create a platform in the community where people can get in contact with others with similar needs," Perry told Reuters.

Three months after its launch with the slogan "You Don't Want It. He Can't Have It Back," the Web site has 3,000 registered users and more than 600 postings of rings, bracelets and earrings for sale -- all with a personal tale attached.

"Studs from a Dud," rites one woman, selling a pair of cubic zirconia earrings given to her three years ago. Six months later, she says, the boyfriend dumped her over the phone -- while she was recovering from brain surgery.

"Oops," writes another, selling a white gold wedding band. "Hey, Mom and Dad, remember that time I got married really young? Sorry about that. I can't pay you back for the wedding, but I'll split whatever I get for these with you. Deal?"

"We wanted to keep the tone fun and tongue in cheek. There are some bitter women but most stories are really light-hearted although a few are about people who have been in an abusive situation. But now they are ready to move on," said Perry.

The idea was born when Megahn Perry, a Los Angeles actress and writer, was looking for a safe, reliable place to sell a wedding set after an amicable divorce and realized others might have boyfriend jewelry languishing in drawers or with attendant memories that make them too painful to wear.

The local pawn shop proved an unattractive option, and Ebay felt too anonymous. So she teamed up with her stepmother Marie, researched the market and found a gap in it.

New Orleans students, Allison Wasserman and Elizabeth Rothbeind, set up a similar venture, http://www.Ex-cessories.com, in April after a teary afternoon sorting out photographs, jewelry and other mementos of an ex-boyfriend.

With the motto "Don't Get Mad - Break Even," it offers independent appraisals of jewelry, matches buyers with sellers, and provides a social network.

Although aimed at women, the Web sites welcome men.

"Some men thought it was going to be another male-bashing site but that's not what we're trying to do," said Perry.

But she admits the "He Can't Have It Back" slogan has rankled some who believe jewelry should be returned to the giver. "Etiquette says that if the engagement is broken off, you should absolutely give the ring back. But sometimes the man says no, and sometimes it depends on circumstances," she said.

As one woman posting a diamond ring for $3,500 wrote:

"Beautiful ring came with the wrong man. Decided to sell to regain the money that I spent finishing payments on the ring that my ex didn't."

Source: Reuters

[HengHeng]

hmmm winston diamond spell wrong

[blid2def]

hmmm winston diamond spell wrong

Hahahaa.... your eyes damn sharp. I see a few times also never see it.

[winston]

A Look at How the Art Market Is Faring
05/19/08 by Lauren Tara LaCapra

The spring art auctions have set new records, but also started to show some cracks in the foundation. The results have left collectors, auction houses and art enthusiasts wondering whether the boom has gone bust.

A Francis Bacon painting fetched $86.3 million at a Sotheby's(BID - Cramer's Take - Stockpickr) auction Wednesday night, making it the most expensive piece of contemporary art ever sold. That auction set records for 17 other artists -- and that figure doesn't include records for Claude Monet ($41.5 million), Alberto Giacometti ($27.5 million), Auguste Rodin ($19 million) and Joan Miró ($17.1 million) at a Christie's auction earlier in the month.

Still, more than half of the lots sold in the contemporary evening sales sold below the average estimate, according to ArtTactic, an art-market research firm.

Several pieces -- including those by Picasso, van Gogh, Monet and Matisse -- did not reach minimum estimates, and a hefty portion of works were left unsold. Bidders were sparse even for the record-setting lots, indicating fewer, more selective buyers.

Just as the fine-art market was posting a record $9.2 billion in sales last year, the U.S. credit crisis and housing downturn began to take its toll, sending chills through the global economy. Art enthusiasts had hoped that countries with emerging wealth and fresh talent would be the bright spots that prop up the traditional powerhouses of the U.S. and Europe. There was evidence that such a trend would emerge: China overtook France as the No. 3 market in art revenue last year. Auction houses sharpened their focus there, as well as in India, Russia and Dubai.

Still, the art market is certainly showing signs of stress. The United Nations warned on Friday that the global economy is "teetering on the brink" of recession. With high prices for food and oil, tight credit markets and waning consumer confidence, it's unclear how fast or hard the art market will follow.

That the auctions were not a complete bust was "a great sign of relief," says Anders Petterson, managing director of ArtTactic. "However, the question, 'When will the art market fall?' won't go away. So, every auction season will be a test -- putting enormous pressure on the market ... It's when these expectations are no longer met, that we could be in trouble."

Michael Moses, a former New York University professor who developed an art-price index with colleague Jiangping Mei, says that if the art market follows its historical pattern, it still has further to grow. During the last art boom, from 1985 to 1990, the market grew at a compound annual clip of 30%. That was followed by a precipitous drop of 65% over the next five years.

By comparison, the market has grown at an annual rate of 20% over the last five years, indicating that it could expand further before it contracts, Moses says.

Still, "it's anybody's and everybody's guess to what the history and future relationship is," he notes.

Once a downturn begins, prices can tumble quite quickly and sharply. Here are some important tips for art enthusiasts to keep in mind when deciding whether to buy or sell in today's market:

1. Quality is key. Dazzling works by renowned artists -- from Picasso to Warhol -- will be valuable, even if prices drop.

However, "if you are not an owner of a major work by the right artist, you are likely to find few takers," says Petterson. "The art market has narrowed its focus, and what we see in auction today is a much more blue-chip contemporary art, or exceptional, rare pieces. It is this quality supply which holds the market up."

2. Contemporary pieces are especially hot in today's market. (That means works produced in recent decades, rather than centuries.)

The outlook is strongest for works from the 1950s through the 1970s by Western artists who had "strong curatorial and art historic support, but [were] neglected by the market," Petterson says.

Some top names from 2007 and 2008 auctions so far: Francis Bacon, Andy Warhol, Tom Wesselmann, Mark Rothko, Takashi Murakami, Gerhard Richter, Robert Rauschenberg and, of course, Pablo Picasso, among many others.

3. Works by emerging artists are less expensive and have room to appreciate. For instance, many Chinese artists have seen the value of their work increase tenfold over the past few years.

Among rising stars in the Chinese realm are Zhang Xiaogang, Yue Minjun, Zeng Fanzhi and Chen Yifei, whose works recently set personal records near or below $5 million.

Petterson also suggests honing in on areas like India, Pakistan, the Middle-East and South-East Asia.

4. Beware of the speculative bubble.

Those who have been buying up "cheap" works of art for tens of thousands of dollars and selling them quickly at a relatively high profit may not be able to do so much longer. Auction houses have become more selective and such "exceptional price levels are starting to look like ceiling prices," according to Artprice.com's 2007 market review.

5. Pick the right middleman.

It's important to cultivate relationships with dealers and galleries that can find a buyer if the auction market has dried up, Petterson says. Similarly, the right connections are crucial to acquire works at the right prices when you're building a collection.

[winston]

How to Insure Your Fabulous Art Collection
05/19/08 - Lauren Tara LaCapra

As the art market has grown in size, scope and value, insurers have stepped in to take advantage of the growing market as well. Major insurers now cover an array of valuables including paintings, sculpture, jewelry, antiques, stamps, coins and fine wine.

"There's a limited number of cars and homes out there, so insurance companies are creating specific products for very specific needs," says Jeanne Salvatore, spokeswoman for the Insurance Information Institute.

The niche-insurance market is growing quickly, according to Salvatore, especially for fine art. As an example, AIG's AIG fine-arts division has had a "very healthy" annual growth rate of about 30% in recent years, says Katja Zigerlig, director of fine arts at the insurer's private-client group.

Here are some tips insurers offer to keep your prized possessions in top shape:

Know the people you let into your home.

When things go missing, it's usually an inside job, according to insurers. Whether housekeepers, roof contractors or party guests, those who steal your stuff have usually been in the home before and know where to find the goods. Keep your valuables locked up if you're having major renovations or a party with unfamiliar guests. Make sure to do background checks on hired help who will be spending a good amount of time in your home.

Get the right kind of anti-theft system.

It might sound too "James Bond" to be true, but there are laser security devices and tiny locator tags developed just to prevent theft and discover where your valuables end up if they get stolen.

Make sure housekeepers know how -- and whether -- to clean your valuables.

Accidental mishaps frequently occur when those hired to tidy up a home start tidying up the 19th century painting as well, says Theresa Lawless, director of fine art and collectibles at Fireman's Fund InsuranceAZ.

"A lot happens with 'The maid did it' or 'The butler did it,'" she says. To avoid such situations, be specific about what items should not be touched and what items have specific cleaning instructions.

For wine collectors, temperature is key.

Make sure to have a backup generator in case a power outage shuts down your wine coolers.

If you insure, pick the right policy.

Itemized coverage makes sense if you have a few paintings, but wine collectors are better off with a blanket policy, since the collection is constantly changing. It's also important to make sure that new items are covered at the time of purchase, in case of any damage on the way home from the gallery or shop.

[helios]

u may want to know that India contemporary arts is arising w those protraits of ghandi; however i still prefer chinese contemporary ...

last year, i managed to do e SingaporeArt'07 coverage & interview of Nan Qi on his ink-dotting of Mao Ze Dong (those artists mentioned in above article, i feel - they r too commercialised, & wooed heavily by e media; hence i picked nan qi for his state of humbility):

reviewed @ http://www.singaporesights.com/art/art/ ... ore-2007-4

[kennynah]

nothing beats a pink panther....to me

[helios]

i spent few hours researching: what is defined as contemporary vietnamese art?

no doubt, that Vietnam-Singapore r both members of ASEAN and singapore has become 1 of e biggest foreign trading and investment partners of Vietnam. e cooperation & political ties in arts scene will continue to be deepened and broadened thro e hosting Vietnam Festival in Singapore (NB: this year is e 35th anniversary of Vietnam-Singapore diplomatic relationship).

Point 1: all i could gather is that e Vietnamese Art scene after 1990 (termed as Post-Doi Moi) is liberalised w an open-market economy; w more galleries going commercialisation after e implementation of e renovation policies.

i met a v humble Vietnamese artist (he was fluent in both Eng-Mandarin) surprising, we spent e whole night discussing on his artworks, ie. wood-engraving-on block + buddhism curvilinear facial features & forms depicting in modern context and emotions.

Point 2: w what is defined as "politically correct", modern young artists now have experimented beyond realism, ie. to use both western art approaches and traditional arts instruments to adapt & adopt e various economic, social, political bio-spheres into vietnamese expressions.

such a cloudy morning today.

yesterday night was crowded.

all e credit suisse staffs were @ ACM, as e arts exhibition is part of credit suisse innovation in art series of programmes.

reviewed news @: http://www.singaporesights.com/art/art/ ... tival-2008
e Official Launch @ http://www.singaporesights.com/events/e ... festival-2

[winston]

Hedge Fund Gets Saatchi Tips on Hottest Artists in West, Asia

By Scott Reyburn

May 22 (Bloomberg) -- The Art Trading Fund, which describes itself as the world's first ``regulated fine art hedge fund,'' says Charles Saatchi will advise it on contemporary-art purchases.

Chris Carlson and Justin Williams, founders of the Guernsey- registered fund, said in a telephone interview that Saatchi, an advertising mogul and art collector, would help them select works by Western artists as well as from the emerging markets of China, India and the Middle East.

``We were approached by the Saatchi Gallery to become corporate patrons,'' said Williams. ``Being cheeky boys, we wanted something in return. The Saatchi team will bring global expertise to our plans to enter new markets.''

The fund will pay the Saatchi Gallery a percentage of the profits it makes from works acquired through the gallery, according to the agreement, signed in April, Carlson said. Saatchi, who in 2005 sold his Damien Hirst shark to hedge-fund manager Steven A. Cohen of SAC Capital Advisors LLC for $8 million, is also known for his Saatchi Your Gallery Web site.

Managers of art investment funds, which buy and sell a pool of works for a set fee and a share of any profit made, have been promoting art as an alternative asset class over the last five years. So far, the London-based Fine Art Fund, which has attracted $110 million of assets under management since it started in 2004, is the only one of these vehicles to remain conspicuously active in the West.

Emerging Economies

In March, concern about weaker demand in the Western art market prompted the investment vehicles Meridian Art Partners and the Fine Art Fund to say they would also be expanding in the world's emerging economies.

Annabel Fallon, the Saatchi Gallery's press officer, confirmed the arrangement with the fund. The gallery is due to open in its new London home -- the Duke of York's Headquarters, Chelsea -- this summer at a date to be fixed. ``The Empire Strikes Back: Indian Art Today'' is among the planned shows.

The Art Trading Fund has a short-term arbitrage strategy of three to 12-month returns and with a hedge to provide protection, according to its Web site, http://www.theartfund.co.uk.

Carlson, a former equities trader at UBS O'Connor Ltd. and Deutsche Bank AG; Williams, a publisher-turned-art dealer, and their partner, the traditional artist Roy Petley, began attracting investment in the Art Trading Fund in April 2007.

Carlson and Williams said their first fund closed in August 2007, with a capitalization of $10 million. The fund had a total of 12 investors made up of a mix of private banks, asset managers and wealthy individuals.

Fund Capital

In common with other art investment vehicles, the Art Trading Fund's capitalization has been lower than originally planned. In December 2007, in an interview published by http://www.wealthbriefing.com, Carlson said the Art Trading Fund was looking to raise 50 million pounds ($98.6 million) by the end of that year.

Carlson said that during Fund 1's first quarter of trading, which ended Dec. 31, investors had received returns of 9 percent inclusive of management fees and other costs.

Fund 1 had traded in a combination of second-tier Post- Impressionists such as Henri Martin and Henri Lebasque, and eight unnamed living artists whose work it has exclusive rights to sell through galleries, Williams said.

ATF's Fund 2 will close at the end of June, said Carlson and Williams, and has a target capitalization of $50 million. So far the second fund has received $35 million in inward investment, they said. Asset allocation will be evenly spread between contemporary art from the West and emerging markets, they said.

``Over the next 18 to 30 months we expect to see strong overall returns in the art market,'' said Carlson. ``But volatility will create opportunities. Expertise will pay off. Lack of it will be punished.''

[kennynah]

i have inherited some very old singapore and foreign coins...some 5 decades old...

you know singapore mint used to produce those $1 coins...there a mythical animal on it...looks like a dog...

dunno how to value these...maybe one day, i bring to sotheby's....hahaha...