Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Australian Retirement Funds Hold $573m in Art & Collectibles

March 14, 2011 by Marion Maneker

All the talk of the risks involved in professionally managed art funds in the US, Europe and Gulf States pales in comparison to what Australians are doing all on their own. There a system of Self-Managed Superannuation Funds (SMSFs), comparable to IRAs in the US, allows investors to hold some of their assets directly in art. Those provisions were challenged recently by a government report:

According to a regular ATO report on the funds, as of December, $573 million was tied up in artwork, collectables, metal and jewels. Although a review into the super system chaired by Jeremy Cooper recommended stopping SMSFs investing in art and collectables, and for funds already holding such assets to divest themselves, the federal government has decided the market should continue, with some restrictions.

But the Sydney Morning Herald’s story on the failure of art dealership catering to SMSFs who wanted their assets stored, insured and even producing revenue through a rental scheme, shows just how hard it can be to treat the art market as an asset for small investors.

Gilt-edged art market deals blow to super investors (Sydney Morning Herald)

 

More from Art Market Monitor

  • Agnes Gund’s Art Coattails Fund Criminal Justice ReformAgnes Gund’s Art Coattails Fund Criminal Justice Reform
  • Matthew Green Implicated in Money-Laundering SchemeMatthew Green Implicated in Money-Laundering Scheme
  • Artelligence for June 7, 2018Artelligence for June 7, 2018
  • Broad AppealBroad Appeal
  • $6 M.–$8 M. Baselitz to Highlight London Stage of Christie’s ONE Global Auction$6 M.–$8 M. Baselitz to Highlight London Stage of Christie’s ONE Global Auction
  • Christie’s Claude Berri Collection (Paris) = €8.3mChristie’s Claude Berri Collection (Paris) = €8.3m

Filed Under: Art Funds

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor