Word: arte
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Dates: during 1970-1979
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That may be an exaggeration. The wealthy and the powerful have invested in art from time immemorial, though it is true that the great collections have been amassed by acquisitors possessed of taste and love for the objects they buy. They have not generally been dis couraged by hard times. On the contrary, in recessions and depressions and inflations, the smart ones tend to liquidate stocks, bonds and real estate and thus have all the more cash to invest in other fields. Like art. Given the scar city of beautiful things and the insatiable demand for them, the sales will...
People buy art for all reasons and with all incomes. Broadly, however, they fall into three categories: the amateur, who appreciates beautiful objects for their own sake; the investor, who is primarily intent on making money; and the rare great collector, who assembles treasures on the grand scale that enriches society. Three vignettes...
...black velvet jacket, Stuart Pivar, 49, resembles an apparition from one of the dark Victorian paintings of which he is an avid collector. A New Yorker who owns several plastics companies, he accumulates paintings and bronzes because "there is nothing more exciting than to have great objects of art around." He concentrates on 19th century academics, pre-Raphaelites and symbolists, because at the time he began collecting 20 years ago they cost relatively little. Hofstra-educated Pivar has steeped himself in his field since then, reading exhaustively and traveling to important auctions around the world. Says...
...display in his cavernous two-story bachelor apartment off Manhattan's Central Park. He concedes that his paintings of diabolic winged creatures, furiously driven chariots and diaphanously clad maidens are basically "decor," adding: "You are not supposed to look at the paintings, they look "at you. The art puts out the energy." Anything that produces energy these days should be profitable, of course, and Pivar's collection is no exception. "Since I started to collect," he says with satisfaction, "19th century painting has increased tenfold in value. It can still go another tenfold...
...Happy Investors For Atlanta's Noel and Kathy Wadsworth, investing in art is a full-time occupation. Last April, Wadsworth, 43, sold his thriving 20-year-old carpet plant in Dalton, Ga., in order to concentrate on what had been the couple's consuming interest: collecting French and American impressionists. "We've always been interested in art, and we'd always bought local artists," he explains. "Then, five or six years ago, we just had a yearning for artists who were names in books, fine art, artists who were dead...