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November 22nd, 2015



Yours sincerely
 
 

Michel Santi                                                                   Christian-Marc Keller
Founder                                                                           Founder
 
 
 
Art is global, art is investment, art is profitable, but art will always remain beautiful and heart stroke!


Finance is boosting Art
 

                                
Sotheby's boosted the size of its credit facility nearly three times this summer, to about $1.34 billion, so that the most profitable business at auction house Sotheby's is its finance arm. Those borrowings will enable Sotheby's to double its portfolio of loans to $1.3 billion.

Actually, this
business is booming as, in Q3, Sotheby’s made almost as much gross income in the segment ($49 million) as in its core auction business ($61 million). This steady non-cyclical and quickly growing revenue from its finance segment is a very welcome positive trend that helps to address the seasonality issues and lift the spirits around Sotheby’s equity story.

Finance revenue has grown by 70% on 9 months basis and by 50% on Q3 basis to the same period of 2014.
As a result of the agreement with its creditor (General Electric Credit Corporation), Sotheby’s increased capacities to do art loans and auction guarantees do make a lot of sense as the listed firm was long considered a strategic disadvantage compared to privately held Christie’s. Betting $500 millions guarantee on Taubman collection was a great example of all-in strategy Sotheby’s practices to win business and make additional buck on the finance side. 

 
To sign is to live! 


                     


The doodle in the corner of a canvas is often as interesting as the painting itself. Consider Albrecht Dürer’s (1471-1528) monographic signature 
 
 
                      


or Banksy’s scrawl. Plenty of non-artists have had memorable autographs too like Mozart (1756-1791).


                    

Writing one’s name has long been a kind of art that anyone can practice, but a recent survey suggests it’s being lost. As the New York Daily News reported a short while ago, a poll conducted found that few take the time to leave their mark. While 61% of responders sign paper at least once a week or more, nearly half do so in a hurry and a full 30% just scribble something fast to get it done.

It seems that in our rushed, digital age, the curlicues immortalized by Queen Elizabeth I (1533 - 1603) have become unthinkable. 



T
hat’s sad news for those of us who still find pleasure in autographs. Among responders between 18 and 34 years old, 30% said they have a “flexible” signature, with 64% saying it’s because of computer use.

This seems to be the way we’re going, in our increasingly sterile, paperless world. It may sound old-fashioned but, to me, the death of the signature feels like a terrible loss for society.

Signatures aren’t merely written names: they’re intimate assertions of our existence, and of our commitment to living together in the real world.

 


 

Michel Santi
 

Founder

 

michel@atf.club
 

Guenter H. Richter

Special Advisor

 

guenter@atf.club
 

Martial Ricart
 

Senior Art Investment Advisor

martial@atf.club
 

Angelo Paratico
 

Executive Vice President
 

angelo@atf.club
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