Monaco Wealth Management CEO, André C. Perry had the privilege in joining one of our premium client’s Mr Gianluca Gaudio, owner of TV Art Live, the Luxury and Art Television Channel in Monaco, to unveil his latest Italian Masterpiece by Giovanni Antonio Canal, better known as Canaletto.
This magnificent oil on canvas of S. Pietro di Castello measuring 86 x 124cm is simply breath- taking, and Canaletto’s views have always fetch high prices, and as early as the 18th century Catherine the Great and other European monarchs vied for his grandest paintings. In fact, the record price paid at auction for a Canaletto is £18.6 million for View of the Grand Canal from Palazzo Balbi to the Rialto, set at Sotheby’s in London in July 2005.
Therefore, this is a great time to discuss Art as an alternative investment, because the right artwork can offer you a higher return than traditional investments whilst offering protection against inflation at the same time. Now-days art is considered as a new type of asset class for over 40% of the asset managers. Furthermore, almost 10% of the total net worth of the wealth are held in treasure assets.
In its dynamic cultural context the Government of the Principality of Monaco has also decided in 2013 to create a free port in Monaco with the aim of promoting and developing the art market in the Principality. The new facility was entitled as “Monaco Freeport”. The Monaco Freeport makes it possible to store in Monaco works of art, items from collections, antiques and jewellery from countries outside the European Union, without incurring duties and taxes.
We at Monaco Wealth Management also love art as an investment and an asset class but from a more human type of consideration. We believe art is all around us and the aesthetic inspiration is our footprint to the next generation. Art is not just a piece of canvas, a product but a passion and a message from our century. Something from us to our grandchildren. They are telling us their stories and sharing their emotions. Find the moment to understand them, allow them to communicate to you and to tell you their individual messages. When you find this harmony, you can also combine the passion with the profitable long-term investment.
In the Principality of Monaco, the policy of supporting culture and creativity has been pursued both nationally and internationally and Art has always represented a point of interest in the Principality.
This Canaletto Oil on canvas of S. Pietro di Castello is currently for sale and price is on application, contact us at Monaco Wealth Management for further information.