That's How You Bid

Being the art agent for a wealthy art collector may be confusing at times.

Recently deceased Canadian multi-billionare, Kenneth Thompson, had a system.

The Globe and Mail relates...

He and his advisers gave a number from 1 to 10 to a particular work, making it clear how adamantly his bidder should go after the piece....

I think that captures a lot of variables in the auction environment (from what I've seen on TV). The bidder adds value to the process from the acquired knowledge of past bidding history and collector feedback.

This information provides an interesting view into the relative nature of the secondary art market asset valuation by a serious, sophisticated collector. By using a scale of 1 to 10 to rate acquisition targets, I wonder if an effective financial 'bidding model' could be formulated to capture the decision of whether to 'bid' or 'pass'?

And then there's the tax question.

Me? I collect Cheeta paintings. Y'know, Tarzan's sidekick? For real, brah. Everybody's favourite sidekick is still painting after all these years. You gotta love those second showbiz careers.

Painting by Cheeta

$25 US is my 'buy and hold' recommendation for Cheeta paintings.