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WINE • ART • INVESTMENT • LUXURY PROPERTY • COLLECTABLES • PHOTOGRAPHY Collections Cover 3.18 op1b.indd 1
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TA L A C R E S T
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A genuine, numbers-matching example of extraordinary quality with single ownership for nearly two decades. This respected, beautiful and superb California Spyder, with a fascinating known history, represents one of the most desirable examples of the ultimate open Ferrari of its era.
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Contents FEATURES 23
FORGING AN INVESTMENT
26
DECIPHERING ART INSURANCE
28
MASTERPIECE RETURNS
38 40 42
arts &
COLLECTIONS www.artsandcollections.com
Fine art fakes have cost buyers millions for centuries; protecting art investments has never been so important.
Collecting fine art can be a lifelong pursuit of happiness. Owning rare and unique items comes with its own risks, however. An eye for quality and patience are crucial for high net worth individuals looking to make capital from fine art.
LOOKING AFTER THE NEST EGG
WINE • ART • INVESTMENT • LUXURY PROPERTY • COLLECTABLES • PHOTOGRAPHY
Cover: © Simon Frederick / National Portrait Gallery. Turn to page 12 to read a preview of the National Portrait Gallery’s upcoming exhibition, Black is the New Black. Pictured: Naomi Campbell, archival inkjet print, 2016.
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In the current tumultuous economic climate, it’s crucial to preserve and nurture our financial wellbeing.
79
ENIGMATIC LEGACY
Through innovative, clean and intricate craftsmanship, Michelozzo carved himself a legacy.
DEMOCRATISING FINE ART WITH CRYPTOCURRENCY & BLOCKCHAIN
Art and cryptocurrency, it seems, could be kindred spirits—Arts & Collections explores this ever-deepening relationship.
44
IMAGES © SIMON FREDERICK; NATIONAL PORTRAIT GALLERY; ROYAL ATLANTIS RESIDENCES; SOTHEBY’S; ROLEX
46
SEAS GOING GREEN
Until now, travelling by yacht has been known to be one of the least ecological ways to get around—that could be about to change.
DREAMING IN GLASS
48
Dripping with exuberance, the Tiffany lamp’s designs are synonymous with the striking Art Nouveau movement.
48
WATCH THIS SPACE
64
FANCY COLOURED ASSETS
72
VALUABLE INTERIORS
74
LUXURY OUTDOOR LIVING
79
OPULENT DEVELOPMENTS
Luxury watch companies must adapt to changes in consumer behaviour or run the risk of becoming irrelevant.
Diamonds have been revered for their beauty for millennia. Nowadays, the coloured variety offers a strong return on investment.
Clean design, quality materials and generous amenities are just some of the elements that can provide value to luxury properties.
64
Designing the exterior of your home requires the same care and precision as the interior.
We tap into the world’s most exciting developments whose unique selling points include groundbreaking architecture.
www.artsandcollections.com
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COLLECTIONS 5
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18
Regulars 12 18 21 34
62
52
62
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Auction Highlights
The record-breaking, the eclectic and the unique; we bring you the latest from the world’s most renowned auction houses.
Treasures
Our series highlights a single item of artistry or craftsmanship that is both rare and exquisite.
Preserving History’s Riches
With input from Bank of America’s Rena DeSisto and the Brooklyn Museum’s Lisa Bruno, Arts & Collections takes a detailed look into the Art Conservation Project and its ongoing efforts to restore six Assyrian reliefs.
apanese Whisky: J Tradition & Reinvention
Spirit connoisseurs have become enamoured with Japanese whisky in recent years. Merging traditional methodologies with native flavours, these varieties have taken on a personality of their own.
55
68
Happenings
Bringing you a mix of the high-minded, eccentric, regal, random and unmissable events as we look ahead through 2018.
66 68
Indian Ocean Getaways
Each location within the Indian Ocean is enriched with its own unique character and history.
Luxury Travel Expeditions
Embark on a luxury expedition of a lifetime: discover the bustling Amazonian rainforest, the fertile Galápagos Islands and the Arctic’s immense polar caps.
A Victorian Resurgence
Unlike many alternative assets including fine wine and art, antique sales—in particular, Victorian antiques—have a precarious history at auction.
Where to Spend It
From limited-edition Louis Vuitton to cutting-edge watchmaking technology, we bring you the latest luxury collectables and highend fashion items.
images © christie’s; shutterstock; patek philippe
55 6 CollectionS www.artsandcollections.com
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A signature Moroccan Palace, set in an oasis which time forgot
Km 5 Route d’Amizmiz, 40160 Marrakech, Morocco + 212 524 45 96 00 www.selman-marrakech.com
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Bespoke Exclusive Experiences The Goldbrooke Group are a London-based luxury lifestyle concierge and destination management company providing inbound services for clients as well as supporting corporate blue-chips and luxury leisure clientele. With over 20 years’ experience in the luxury hospitality sector, we understand the importance of stress-free travel and ensure that every element of your trip is taken care of, from your choice of aircraft to the finest luxury accommodation.
Berkeley Square House, Mayfair, London, W1J 6BD +44(0)20 7859 4431 | info@goldbrookegroup.com goldbrookegroup.com Goldbrooke Group.indd 1
14/09/2018 15:14
DamsonMedia Publisher & CEO Kevin J. Harrington Editor Annalisa D’Alessio Sub Editor Kayley Loveridge Art Editor Friyan Mehta Staff Writer Phoebe Ollerearnshaw Editorial Assistants Hannah Foskett Sam Stevenson Production Director Joanna Harrington Production Coordinators Ava Keane Joel Simpson
Arts & Collections has partnered with over 120 of the world’s finest luxury and boutique hotels to provide the highest quality coverage of global art and cultural events, as well as auctions of interest and the latest developments in the global art market. It is this blend of interesting and informative editorial that is most appealing to guests at these premier hotels, who have a great interest in admiring and purchasing fine art and collectables.
Arts & Collections’ dedicated website, artsandcollections.com, features detailed information on each of the 120 luxury hotels promoting the publication in their exclusive rooms and suites.
Office Coordinator Adam Linard-Stevens Editorial OFFICE Arts & Collections Suite 2 143 Caledonian Road London N1 0SL United Kingdom Telephone: 020 7870 9090 editorial@damsonmedia.com www.damsonmedia.com
images: © christie’s; sotheby’s; maecenas; shutterstock
CHICAGO OFFICE Arts & Collections 730 N. Franklin St. Suite 604, Chicago, IL 60654, USA The opinions expressed in this magazine should not be considered official opinions of The Publisher or Editor. The Publisher reserves the right to accept or reject all editorial or advertising matter. The Publisher assumes no responsibility for unsolicited manuscripts, photographs or artwork. IMAGES are sent at the owners’ risk and the Publisher takes no responsibility for loss.
© 2018 Damson Media All rights reserved. Reproduction in whole or in part of any text, photograph or illustration without prior written permission from the Publisher is strictly prohibited. Printed in the UK.
www.artsandcollections.com
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All of the exclusive previews, reviews and expert commentary pieces that appear in the pages of Arts & Collections are also available to view on artsandcollections.com. In addition, the website provides a directory of upcoming auctions by Sotheby’s and other top auction houses, plus exhibitions and popular cultural events, keeping visitors fully informed, as well as providing a comprehensive resource area for collectors and connoisseurs.
Arts & Collections is published quarterly and is available on subscription for €40 (Europe) or €45 (worldwide) per annum including post and packaging. Please email editorial@damsonmedia.com for further details regarding subscriptions.
It Figures... 37 sitters 14 century including Naomi Campbell and Tinie Tempah, make up the National Portrait Gallery’s Black is the New Black photography exhibit. Pages 12-16
th
Around this time, Italian Renaissance architect Michelozzo di Bartolomeo designed the Palazzo Medici in Florence.
Page 40
1980
The year Andy Warhol created 14 Small Electric Chairs, one of the first works of art to be offered in a cryptocurrency auction. Pages 42-43
£200m The estimated possible cost of art forgery for art investors and collectors. Pages 23-24
£24.9m
Claude Monet’s La Gare SaintLazare, Vue Extérieure (1877) sold for this much at a Christie’s sale.
$42.1m
Pages 18-21
The Memory of Autumn Leaves (above, left)—a rare Fancy Vivid Blue diamond—sold for this amount at a Sotheby’s sale in Geneva, Switzerland.
Pages 64-65
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Editorial
Labour of Love If a passion project, investing in tangible assets should be led by emotion and a clear head
D
Images: © [public domain] Wikimedia Commons; © Christian Dior; © Sotheby’s Auctions
eciding the next big investment is often a gamble—even for the most seasoned of collectors. Anyone with a knowledge of the luxury assets market will know that trends can change at the bat of an eyelid, even for strong and usually stable performers like cars and fine wine. So, what factors should really drive an investment? While that is not an easy question to answer, a course of action which many experts recommend is spending capital on objects we feel a connection to. Whether that is a renowned bottle of whisky you’ve read about, a painting by your favourite impressionist artist or the classic car of your dreams, collecting has little to no meaning if it isn’t dictated and led by passion. That way, even if the market should make an unexpected—and undesirable—turn, you’ll still be left with an asset you’re proud to drink, exhibit in your home or drive. In this brand-new issue of Arts & Collections, we focus on the resurgence of certain investment trends; namely Victorian antiques (page 66), Japanese whisky (page 52), leaded glass Tiffany lamps (page 46) and rare fancy coloured diamonds (page 64). Our regular travel section (page 55) will take you to the Indian Ocean as well as once-in-a-lifetime adventurous expeditions (page 62). In terms of property, we explore how interior design adds value (page 72) and the most outrageous luxury developments in the world (page 79). Turn to page 18 to learn about the latest breathtaking auction records achieved by the likes of Sotheby’s and Christie’s or flick to page 12 to read about this season’s best art and culture events to visit.
Above right: Sketch by Christian Dior for model Londres, Autumn-Winter 1950 Haute Couture collection. Below right: Vincent van Gogh Starry Night over the Rhône, 1888 Oil on canvas 72.5 x 92 cm. Right: The Sky Blue Diamond Ring 8.01 carats The ring sold for a staggering $17 million at Sotheby’s Geneva in November 2017.
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collections // events
Happenings Bringing you a mix of the high-minded, eccentric, regal, random and unmissable events as we look ahead through 2018
Black is the new black
Images © Simon Frederick / national portrait gallery
A portfolio of photographs has been given to London’s National Portrait Gallery by artist and photographer, Simon Frederick. The series of images—which formed part of a BBC Two documentary called Black is the New Black—encapsulates portraits of influential black Britons. The sitters were carefully selected for their achievements and vast contributions to business, education, politics, religion and science. On the gallery’s obtainment of the series, director Nicholas Cullinan remarked: ‘These striking portraits of black British sitters powerfully reflect the diversity and variety of contemporary British achievement in public life.’ The likes of athlete Denise Lewis; comedian, Sir Lenny Henry; model, Naomi Campbell; and Britain’s first black Archbishop, John Sentamu, are each positioned in a classic sit-down stance. Light, shadow and focus are manipulated skilfully by the lens to capture the unique features of each individual. This makes for a striking and thoughtprovoking series of images. The portraits will be on display at the National Portrait Gallery from 29 September 2018. Right: Simon Frederick Portrait of Laura Mvula, 2016 Archival inkjet print 380 x 260 mm.
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Events // collections
On your marques Since its inception in Monaco eight years ago, Top Marques has been regarded as the world’s most exclusive auto show. It started life as an event to showcase luxury supercars and peak performance designs—since then, it has grown considerably. Now, visitors can immerse themselves in the finest of everything: from super boats, planes and cars to top watch brands, jewellery and collector’s items from the likes of IWC, Montblanc, Piaget, Jaeger-LeCoultre and Roger Dubuis. Set in a timeless location, the Grimaldi Forum— an award-winning exhibition centre in the heart of Monaco—promises to host a wealth of exhibitors. Top Marques has been known to debut the most groundbreaking technological breakthroughs: electric motorcycles and jet surfboards are just a few examples. Supercar manufacturers Lamborghini and McLaren will be in attendance, among others, showcasing their most innovative materials and automotive designs. Lucky VIP guests can even test drive the display vehicles on Monaco’s esteemed F1 track—the iconic Monte Carlo Grand Prix circuit. The event in Monaco will take place from 18 to 21 April 2019.
Images © Popperfoto/Getty Images; unsplash
timeless haute couture Christian Dior: Designer of Dreams, the most comprehensive Dior exhibition in the U.K. to date, is set to grace London’s Victoria & Albert Museum from 2 February 2019. Tracing the history of one of fashion’s most iconic names, the exhibit will span from 1947 to present day, highlighting the couturier’s vision of femininity and encompassing garments, accessories and fragrances. In addition to showcasing the impact the influential designer had on the industry, the display will also look at how his six successors—from Yves Saint Laurent and Marc Bohan to John Galliano and Maria Grazia Chiuri—kept the fashion house’s name alive. Presenting over 500 objects and over 200 rare haute couture garments, the exhibition promises to be a must-see for lovers of high fashion. A highlight within the display will be a dress worn by the late Princess Margaret for her 21st birthday celebrations. Right: Yves Saint Laurent in front of Christian Dior; London, 11 November 1958.
www.artsandcollections.com
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collections // events
The People’s architect
Images © ADCK - centre culturel Tjibaou/RPBW; sergio grazia
For the first time since 1989, the groundbreaking portfolio of leading Italian architect, Renzo Piano, will be on display at the Gabrielle Jungels-Winkler Galleries in Burlington Gardens to mark the 250th anniversary of the Royal Academy. Renzo Piano: The Art of Making Buildings will exhibit a rarely seen selection of the architect’s most influential projects— including archival material, photography, drawings and concept models—spanning the breadth of his career. Some of the most exceptional elements of the show include the Centre Pompidou, Paris (1971); The New York Times building (2007); and The Shard, London (2012). At the very heart of the exhibition is a celebration of the man behind the buildings, where an intimate insight into the architect’s work—including 32 photographs by Gianni Berengo Gardin and a specially commissioned film by Thomas Riedelsheimer—will be on show. Piano said, ‘It is an honour to be working with the Royal Academy on the inaugural architecture exhibition in the Gabrielle Jungels-Winkler Galleries...I believe passionately that architecture is about making a place for people to come together and share values.’ Renzo Piano: The Art of Making Buildings will run from 15 September 2018 until 20 January 2019 at Gabrielle JungelsWinkler Galleries, London.
Left: Renzo Piano Building Workshop Jean-Marie Tjibaou Cultural Centre, Nouméa, 1998 Photo © Sergio Grazia.
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Events // collections
Martinique’s hypnotising charm In 1887, Paul Gauguin (1848-1903) and Charles Laval (1861-1894) left Paris and its decadent way of life and travelled to Martinique—an exotic Caribbean island that is part of the Lesser Antilles. While there, both artists created powerful and colourful masterpieces. Although short, this trip greatly influenced and changed their perception of art thereafter. An exhibition wholly dedicated to this important period in the painters’ lives—Gauguin & Laval in Martinique—will be showing this autumn at Amsterdam’s world-famous Van Gogh Museum. The display will feature warm and vivid paintings created by Gauguin and Laval whilst on the island as well as some of their preliminary sketches and large, elaborate pastels. A truly unique exhibition; this will be the first time that these works are displayed under the same roof. Gauguin & Laval in Martinique will be on show at the Van Gogh Museum from 5 October until 13 January 2019.
Images © Olafur Eliason. Photo: Jens Ziehe. Boros Collection, Berlin, Germany; van gogh museum amsterdam
Left: Paul Gauguin Martinique Landscape, 1887 Oil on canvas 117 x 89.8 cm National Gallery of Scotland, Edinburgh, presented by Sir Alexander Maitland in memory of his wife Rosalind, 1960.
endlessly inquisitive From 11 July 2019 until 5 January 2020, the Tate Modern in London will house an exhibition dedicated to visionary Olafur Eliasson, an Icelandic-Danish artist best known for his sculptures and large-scale installation art. Within the exhibition, Eliasson’s deep engagement with social issues will be explored— his famous Little Sun project, for example, has brought light and income to people around the world with no electricity. Other captivating and immersive displays within the exhibit will recreate natural phenomena such as rainbows and involve reflections and shadows that examine the way we navigate and perceive the world.
Right: Olafur Eliasson Your Spiral View, 2002.
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A Royal Wedding Exhibition
The Duke of Sussex’s ‘Blues and Royals’ wedding outfit was made by renowned tailors Dege & Skinner on London’s famous Savile Row. He was given permission from the Queen to get married in the Household Cavalry uniform, which was also worn by the Duke of Cambridge. Its single-breasted blue doeskin jacket has figures braiding of Regimental pattern on the stand-up collar and sleeves. It is ranked to Major with large gold-embroidered crowns on the epaulettes.
The trousers—officially named ‘overalls’— are made from a blue and black wool barathea and are fastened by a leather strap and buckle underneath the boots. Prince Harry has loaned an identical uniform to go on display. The exhibition will also include the precious diamond and platinum bandeau tiara—lent to the Duchess by the Queen—which will be on display for the first time since it was designed in 1932 for the reigning monarch’s grandmother, Queen Mary.
Above: The wedding dress of the Duchess of Sussex, created by the British designer Clare Waight Keller, artistic director at the historic French fashion house Givenchy. The five-metrelong veil is made from silk-tulle and embroidered with the flora of the 53 countries of the Commonwealth. Photo © Royal Collection Trust.
Left: The diamond and platinum bandeau tiara lent to the Duchess of Sussex by Her Majesty the Queen. Photo © Royal Collection Trust.
Images © Royal Collection Trust / © All Rights Reserved
A special exhibition will feature the Duke and Duchess of Sussex’s wedding outfits from their royal wedding in May 2018. The display, A Royal Wedding: The Duke and Duchess of Sussex, will be on show at Windsor Castle from 26 October to January 6 2019 and at the Palace of Holyroodhouse in Edinburgh from 14 June until 6 October 2019. Described as one of the most ‘minimal and elegant’ royal wedding dresses in history, Meghan’s pure white gown was designed by Clare Waight Keller, the British artistic director of iconic French fashion house Givenchy. Waight Keller was chosen by the Duchess for her impeccable tailoring, relaxed demeanour and timeless, sophisticated aesthetic. The pair is said to have worked together very closely on the design. Featuring a boat neckline—a style Meghan has adopted in many of her official engagement outfits since—the royal wedding dress was created with a sculpted waist, modern three-quarter length sleeves and a show-stopping train. The five-metre-long silk veil, which covered the Duchess of Sussex’s face as she walked into Windsor Castle’s St George’s Chapel, included floral detail representing the 53 countries of the Commonwealth. To the embroidery, Meghan added wintersweet, a flowering plant that grows in the couple’s Kensington Palace gardens, as well as a California poppy, the state flower of her birthplace and gracious nod to her roots. It reportedly took a team of embroiderers hundreds of hours to create the intricate veil designs, washing their hands every 30 minutes to keep the tulle pristine.
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collections // news
Auction
HIGHLIGHTS The record-breaking, the eclectic and the unique; we bring you the latest from the world’s most renowned auction houses
Scrawled expression
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IMAGES: © Sotheby’s; Estate of Basquiat
Even 30 years after his death, the artwork of Jean-Michel Basquiat is proving to be painfully relevant as ever. A creation from his breakthrough year, Untitled (1982), sold at Sotheby’s Contemporary Art Evening Auction this June for over £14 million—soaring beyond its pre-sale estimate of £7.5-10 million. Since its unveiling in 1982, the canvas has only been displayed once at Tony Shafrazi’s Basquiat exhibition in 1998. Having remained in the same New York collection for 20 years, Untitled finally made its auction debut in London. Adopting his characteristically chaotic style, the piece combines an array of mediums: acrylic, oilstick, spray paint and Xerox collage. At the outset of 1982, Basquiat produced a number of canvases that were dominated by skull-like heads—Untitled is no exception. ‘Jean-Michel Basquiat created unique and haunting images of the male head…these figures are unsettling, leaving the viewer with the feeling that they exist in another realm,’ said Fred Hoffman, author of The Art of Jean-Michel Basquiat (2017).
www.artsandcollections.com
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news // collections
Record-breaking nude An exquisite reclining nude by the late great Lucian Freud made a recordbreaking £22.5 million at Sotheby’s Contemporary Art Evening Auction in London this June. It was the highest price ever paid for a Freud work on British soil, beating the artist’s previous record of £16.1 million set by Pregnant Girl (1961) at Sotheby’s London in February 2016. A late masterpiece, Portrait on a White Cover (2002-03)— executed when Freud was 80 years old—represents the culmination of the artist’s life-long engagement with the reclining nude. In his old age, Freud refused to succumb to a late style. His work never softened or loosened and he pursued with rigorous fervour the urgency, subtlety and concision that he had honed throughout his long career. Portrait on a White Cover wonderfully encapsulates the notion of his enduring stylistic licence and unique interpretation of the portraiture canon.
IMAGES: © Sotheby’s
Blue wonder
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A rare Fancy Blue diamond ring made $6.7 million at Sotheby’s Magnificent Jewels auction in New York this April. The dazzling piece of jewellery set a new price-percarat world record, fetching $1.9 million per carat. An eager crowd of collectors influenced the bidding, causing the final offer to almost triple its pre-sale estimate of $2-2.5 million. The sale sustained Sotheby’s reputation of exhibiting jewels of the highest standard. The rectangular-cut 3.47-carat stone exudes a flawlessly mesmerising aesthetic through its rich azure hue. ‘Our results affirm that the auction market continues to flex its strength in top-quality diamonds, important gemstones and jewels with distinguished provenance,’ commented Gary Schuler, chairman of Sotheby’s jewellery division for the Americas. ‘We are proud to continue the long line of exceptional blue diamonds at Sotheby’s with the sale of the Fancy Intense Blue diamond that soared to $6.7 million after competition from three bidders,’ he added.
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collections // news
Monumental map An original map of Winnie-the-Pooh’s Hundred Acre Wood fetched £430,000 at Sotheby’s English Literature, History, Science, Children’s Books and Illustrations sale in July. Unseen for half a century, the original 1926 copy of the map by E.H. Shepard— who drew all the original Winnie-the-Pooh illustrations—set a new record for any book illustration at auction. One of the most famous and loved settings in English literature, the Hundred Acre Wood has sparked the imaginations of countless children over the last century. Dr Philip W. Errington, director and senior specialist, department of printed books and manuscripts, Sotheby’s, said: ‘I suspect that there isn’t a single child who wouldn’t instantly recognise this wonderful depiction of the Hundred Acre Wood.’ The work is completed with effortless finesse and includes memorable imagery from the adored tale, such as Pooh’s ‘trap for Heffalumps’ and ‘Eeyore’s gloomy place’—reminding the viewer of the strength of A.A. Milne’s unforgettable characters.
Frenetic modernity
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IMAGES: © Christie’s; Sotheby’s
Claude Monet’s iconic La Gare SaintLazare, Vue Extérieure (1877) reached an astounding figure at the much-anticipated Impressionist and Modern Art Evening Sale at Christie’s in London this June. The final bid fell just short of £25 million—a grand feat. The painting is part of a series of 12 canvases that Monet produced in 1877 during a short period of intense creativity. The series depicts Paris’ busy Gare Saint-Lazare rail station from various angles, positions, atmospheric conditions and times of day. It was Monet’s last affair with the topic of modernity, after which he became transfixed with natural themes. This particular canvas sees the station bustling with commuters; meanwhile, smoke billows from a steam locomotive in the distance. Monet’s textural style helps to vividly communicate the frenetic energy of Parisian life. ‘This superb painting describes Monet at his impressionist best, capturing in quick, bold brushstrokes the energy of metropolitan Paris,’ remarked Jussi Pylkkänen, Christie’s global president.
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news // collections
Our series highlights a single item of artistry or craftsmanship that is both rare and exquisite
Treasures
A
IMAGES: © Sotheby’s; Christie’s
Long-lost RICHES An 18th-century Chinese vase sold for €16.2 million (£14 million) at Sotheby’s in Paris this June—achieving more than 20 times its pre-sale estimate (€500,000-700,000). The sale set a new record for the highest price reached by a single item sold by Sotheby’s in France. Remarkably, the vase was discovered in an attic as part of a family’s inheritance. Sotheby’s Asian art expert, Olivier Valmier, said: ‘When the seller put the box on my desk and we opened it, we were all stunned by the beauty of the piece. It was as if we had just discovered a Caravaggio.’ The 18th-century ‘Yangcai’ Famille-Rose porcelain vase bears the mark of the Qianlong Emperor (r.1736-1795) and is exceptionally well-preserved. Further research found the piece to be extremely rare—a unique example of the finest craftsmanship of the age. The vase depicts deer, birds and other woodland animals and includes gold embroidery around its neck.
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mongst the lavish and somewhat eclectic assortment of Peggy and David Rockefeller’s belongings that were auctioned off earlier this year was an Imperial gilt-bronze figure of Amitayus. Having belonged to the Rockefeller family for generations, the piece shimmers with sophisticated craftsmanship and ancient legacy. The sculpture was commissioned during the Kangxi period (1662-1722). The statue is covered in very thick gilding, it weighs exactly 50 pounds and has a collection of semi-precious stones inlaid into the metalwork. The figure depicts Amitayus—the deity of long life—sitting in a dhyanasana pose with hands in a dhyana mudra gesture. This seated position is indicative of a meditation pose. In this case, Amitayus is clad with decorative jewellery including foliate earrings and an elaborate tiara. A rippling ribbon drapes around the front of the statue. Asian art specialist Tristan Bruck believes that the sculpture was probably a lavish offering for one of the Imperial family members. ‘Because of the material cost to make a figure of this size, it would have been extremely expensive,’ says Bruck. The piece was sold at a Christie’s auction this May as part of The Collection of Peggy and David Rockefeller: Travel and Americana event. The stunning artefact far surpassed its pre-sale estimate of $400,000-600,000—the final bid reached a staggering $2,532,500.
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Insurance for your most prized possessions Collecting fine art, antiques and other valuables can be a lifelong pursuit of happiness. With over 60 years’ combined experience, the team at Aston Lark will ensure your prized possessions are protected. Call 020 7543 2829 for more information YOUR WORLD IS OUR FOCUS www.astonlark.com Aston Lark Limited Registered in England and Wales No: 02831010 Registered office: Ibex House, 42–47 Minories, London EC3N 1DY Aston Lark Limited is authorised and regulated by the Financial Conduct Authority.
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ART // COLLECTIONS
Forging
an Investment By Kayley loveridge
Fine art fakes have cost buyers millions for centuries; following recent allegations of forgery in the art world, protecting art investments has never been so important
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efore the stunning Leonardo da Vinci painting Salvator Mundi (c.1490) obliterated auction sale records in 2017 (with a staggering $450 million, for those that don’t already know), much controversy had erupted among experts and the media surrounding its authenticity. Critics asserted that the pose of the painting’s subject, Christ, was flat and forward-facing—unlike all other human subjects painted by the celebrated artist. Da Vinci has been widely regarded for his studies of people in more dynamic, curved and complex poses. While art experts have concluded that the painting is genuine, the recent debate acted as a reminder that forgeries in the art world are a prominent problem. A recent report by Switzerland’s Fine Art Experts Institute (FAEI) alone estimates that up to—a shocking—50 percent of art circulating in the market is fake. According to Town and Country more than $200 billion is spent on art worldwide year-on-year—yet an astonishing $6 billion of that is wasted on illegal activity. In 1999, a couple known only as Mr. and Mrs. King bought a complete set of Salvador Dalí prints of Dante’s Divine Comedy for $165,000 from West Park Gallery while on a cruise. It would be more than a decade before Mrs. King discovered that the prints were not genuine Dalí works. Mrs. King sued West Park Gallery, and although she claimed that the auctioneer
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had asserted the work’s authenticity, she ultimately lost the case. Some major museums and auction houses have also unwittingly displayed and sold precious art and antique forgeries, costing investors millions. Leading global auction house Sotheby’s sold An Unknown Man (1634) believed to be painted by Dutch Master Frans Hals back in 2011 for an astonishing £8.4 million. It was later discovered to be a forgery of masterful skill. The painting had been created by a forger in the style of Hals; further close inspection of the famous painting found, however, that it was produced using materials that would not have been available in the 17th century. Experts at Sotheby’s used pigmentation tests to ultimately determine that the painting was a fake. Now, there is speculation circulating within the art and auction industry that there may be up to 25 other fakes in the market which could cost art investors an eye-watering £200 million. Other works of art thought to be Old Masters paintings have also been implicated in forgery scandals. In 2016, an anonymous complaint alerted the French authorities about a Lucas Cranach the Elder painting, Venus (1531) from the collection of the Prince of Liechtenstein. It was eventually seized by the authorities from the Caumont Centre d’Art in France
due to authenticity concerns. The painting had previously been verified and was sold in good faith to the Prince in 2012 for €7 million, making the seizure all the more shocking. The unique work of art has never been more valuable. The distribution of reprints and copies of famous masterpieces in the commercial retail market has actually increased the prices of originals at auction. This has, however, inspired fraudsters to produce paintings that are almost identical to high value art for financial gain.
Spotting a fake Provenance is widely regarded as the most important aspect of investing, and due diligence will help ensure that buyers invest in genuine art pieces. While new technologies can identify a fake—such as chemical and forensic testing and utilising artificial intelligence to inspect intricacies on the canvas invisible to the naked eye— forgers have learned to adapt, meaning that some fake copies fall through the ‘due diligence net’. For example, there exists no authoritative record of all of Pablo Picasso’s work, who sometimes did not sign his work at all and whose paintings varied and constantly evolved in style. Materials such as paints, paper and canvases used for his paintings are also easily obtainable
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even today, which makes Picasso’s works easier to replicate. Old Renaissance paintings, however, are much more difficult to reproduce; materials used centuries ago are often not available today, making fakes easier to decipher. Investors should keep in mind that highly recognised and sought-after works of art bring with them the burden of proof—no highly valuable asset would sell without genuine evidence of provenance. This means that forgers tend to target less renowned 20th-century artists that would attract less scrutiny at auction. Provenance and authentication can be traced back fairly simply. Follow the paper trail back to galleries and auction houses to check previous sale records. Sometimes this information is readily available online via official gallery, auction house or dealer websites, but if it is not, then all reputable dealers and auction houses including Sotheby’s and Christie’s will have experts on hand who can dole out information for would-be investors. Evidence of provenance can come in the form of past exhibitions, a record of auction sales or private dealer records. Investors should also remain wary that, even if the piece of art is genuine, it may be stolen. The Art Loss Register—the world’s largest database of stolen art—can be used by both investors and professionals in the industry to ensure that a piece of art submitted for auction has not been reported stolen or missing. The website has proven to be a key asset for investors, proving pivotal in the recovery of Paul Cézanne’s Bouilloire et Fruits (c.1888-1890) which was stolen in 1978. Finally, investors should remain wary even of paintings that display a signature—a supposed mark of authenticity. Signatures are perhaps one of the simplest aspects of forgery and can, unfortunately, be applied with ease. Art investment can prove to be incredibly financially lucrative and valuable. To further protect this financial venture, it is imperative that buyers consider taking out specialist art insurance to cover losses should an investment be lost, damaged or stolen.
IMAGES: wikimedia commons [public domain]
COLLECTIONS // ART
Above: Lucas Cranach the Elder Venus, 1531 Oil on panel 39 x 25 cm.
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Our site has a brand-new look. Keeping discerning connoisseurs up to date on luxury collectables—from wine and fine art to classic cars and everything in between—plus insights into the investment industry.
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collections // ART INSURANCE
Deciphering
Art Insurance Arts & Collections: Why do I need art insurance? Suzi Rackley: Art is often a prized possession or carries great sentimental value, most household insurance policies do not provide sufficient insurance cover for art, often restricting the overall settlement with low limits per item, so it is vital to insure correctly. Proper art insurance—either standalone or as part of a specialist High Value Home policy—will provide cover for a settlement figure that you agree with the insurer upfront, usually based on a recent valuation. Some policies will uplift this settlement figure by up to 150 percent if the valuation is within three years old. A good policy will also pay for the depreciation in value after an item is damaged and provide
A&C: What is the first step in insuring my art collection? SR: Find a good broker who has experience insuring art and talk to them about your collection and what is important to you. They will give you advice on what type of cover you need and the best insurer to be with.
registered with a professional body such as the Society of Fine Art Auctioneers and Valuers (SOFAA). If it is a recent purchase it is important to have the receipt or invoice coupled with information on the provenance of the item. These documents provide us with a detailed description, size and the current replacement value which means we can arrange the right level of insurance cover with insurers. It is also very helpful to provide photographs, both of the front, back and frame.
A&C: What are the different elements and documents I need to insure my art collection? SR: A valuation that has been carried out by a qualified valuer, preferably one who is
A&C: What are art appraisals and how often should they be scheduled? SR: Art appraisals or valuations are vital to ensure that your collection is insured properly. A valuation should be carried
support in helping you find a restorer. Art insurance will cover your collection anywhere in the world and whilst in transit, storage or with your restorer.
IMAGES: © shutterstock; aston lark
Collecting fine art can be a lifelong pursuit of happiness. Owning rare and unique items comes with its own risks, however, as a standard household policy usually does not cover these prized possessions. We caught up with Suzi Rackley of Aston Lark to discuss fine art insurance and how to navigate the market
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ART INSURANCE // Collections
Suzi Rackley Client Director
out in person by a qualified professional, preferably someone who has experience and an interest in your style of collection. If your collection is contemporary it would be ill-advised to use someone who specialises in Old Masters. Most large valuation houses offer a rounded-out service, but if you have a particular taste it is worth doing your homework before choosing your valuer. Generally, a valuer will visit you to view your art collection first-hand. They will ask you questions about when, where and who you purchase your art from and may ask to see copies of receipts, previous valuations and any information you hold on the provenance of an item. All of this helps the valuer build a picture of the history of your collection. They will also take photographs and note the size and description of each item, including the frame. After the valuer has carried out extensive research you should be presented with a catalogue of your collection, with pictures and suggested replacement values. It is important to be clear to your valuer that you are asking for a valuation for insurance purposes as this can differ from probate purposes. Depending on your collection, generally you should have a valuation updated every three to five years. A&C: What are the most common claims? SR: Water damage. Generally, if there is a leak in a property this results in water running down the internal walls damaging artwork along the way. We strongly recommend that you do not keep significant pieces of artwork on walls located under bathrooms; also avoid hanging art above fireplaces or in direct sunlight.
Suzi Rackley has been working within the insurance industry for 27 years. Suzi is client-focused with experience in art and jewellery, high value home and cars, country estates and farms and also bespoke schemes for accountants and lawyers. Her favourite part of her role is working alongside clients helping them to review their insurance portfolio to ensure they are getting the best cover available for their prized possessions.
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A&C: What are the main risks of not having appropriate insurance for my art collection? SR: The main risk is being disappointed that the amount you receive following a loss does not cover the costs to repair or replace your collection, or that you are left with a repaired item that has depreciated in value, with no compensation. A&C: What is the best piece of advice you can give to someone looking to insure their art collection? SR: Never get complacent, it is really important to update your valuations every three to five years. All policies have limits on
the amount you can claim per item unless you have specified it and agreed the value with the insurer upfront. A&C: How expensive is art insurance and what types of insurance can art collectors choose from? SR: The rate used by insurers to calculate the premium is one of the lowest—much lower than general contents, silver or jewellery. A good insurer will also allow discounts based on your security and fire protection. You can also opt for a higher policy excess (the first amount you pay in any claim) in return for a discount. A&C: What sort of insurance would an artist or gallery need—as opposed to a collector? SR: An artist would need to consider cover for his studio building, contents and materials. Liability to the public if he has visitors or exhibits. It is also important to insure the finished artwork on the correct basis, which should be the cost of the materials plus labour and any potential loss of profit. A gallery would certainly need to have adequate cover for liability to the public and also their employees and— in addition to this—sufficient cover for the artwork in their care. A&C: What are the most important questions to ask about art insurance before committing to a policy? SR: Understanding what the basis of cover is, for example agreed value. What is the maximum amount per item I can claim for unspecified items and how would a claim be settled? Does the policy provide cover for depreciation, will my art be covered whilst in transit? What experience does my broker have and are the insurer’s specialists in art? A&C: How do I know if my art is worth insuring? SR: All art is worth insuring, anyone with a collection with a total value in excess of £10,000 should not rely on a standard household policy. Aston Lark can insure your private art and antique collections, as well as high value homes, classic and sports cars and jewellery. For more information please call 020 3846 5266 or visit: https://www.astonlark.com/personal/ high-value-home-insurance
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collections // ART INVESTMENT
IMAGES © [public domain] Wikimedia Commons
Masterpiece Returns By Annalisa D’Alessio
An eye for quality and patience are crucial for high net worth individuals looking to make capital from fine art
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ART INVESTMENT // Collections
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ussian businessman Dmitry Rybolovlev thought he grossly overpaid when he purchased Leonardo da Vinci’s Salvator Mundi (c.1490) from Swiss art dealer Yves Bouvier for $127.5 million in 2013—Bouvier reportedly ‘only’ paid around $75 million for it. However, at one of the most publicised auctions to date, da Vinci’s masterpiece fetched in excess of $450 million at a Christie’s sale a mere five years later. It’s safe to say Rybolovlev’s investment paid off—and then some. Google searches for ‘investing in art’ hit a record 12-month peak immediately after the historic sale, demonstrating that a new wave of wealthy investors want to take a piece of the action. The advantage of fine art as an asset is that its value is not affected by the ebb and flow of financial markets. Over the past years, art— especially fine art—has performed better than other investments; analysis of auction house statistics suggests individuals could be getting up to an annual 10 percent return on their investments. While fine art is an asset that can genuinely appreciate in value, investing in it does have some tangible drawbacks—transaction, ownership and insurance costs can be eye-watering. Authenticity, provenance, tax evasion and looting can also bring substantial worry. This begs the question; can money really be made through fine art investment?
The basics
IMAGES © CHRISTIE’S
Understanding the art market is key to making sound investment decisions; this means following auction news, keeping an eye on burgeoning trends and speaking to specialists and curators. According to Zohar Elhanani, CEO of online art information service, MutualArt, rarity is the foremost factor that can drive the value of art. ‘Original works, such as oil paintings, will tend to fetch a higher price on average than a work produced in editions, such as prints or photographs. The scarcity principle applies across collecting categories as well as other media,’ he adds. Similarly, ‘The work of a prolific living artist is likely to be viewed as less scarce than that of an Old Master artist with a limited number of authenticated works to their name.’ When asked, anyone with a knowledge of the industry will advise to exclusively buy and invest in pieces that hold meaning. Purchasing works of art for the sake of the name attached to them or their past auction history could prove to be a monumental investment fauxpas. To Elhanani, this is because markets are regularly changing in response to supply and demand. He adds: ‘While the fame—or notoriety—of a particular artist may lend name recognition and a buzz to a particular work, there’s little evidence that consistently connects fame to value.’ There’s no question that certain artists are established names in the industry; for major collectors, owning artwork from one of these ‘blue chip’ creatives is the driving force behind a particular purchase. ‘However, there are as many possible auction outcomes as there are factors that contribute to the valuation of an object—
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Left: Pablo Picasso Fillette à la Corbeille Fleurie, 1905 Oil on canvas 154.8 x 66.1 cm.
Facing page: Vincent van Gogh Starry Night over the Rhône, 1888 Oil on canvas 72.5 x 92 cm.
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Above: Leonardo da Vinci Salvator Mundi, c.1490 Oil on canvas 66 x 45 cm.
Facing page: Damien Hirst Lost Love, 2000 144 x 84 x 84 in.
simply owning a work by a famous artist will not guarantee its value,’ Elhanani warns. Similarly, an artist’s status as ‘outrageous’ or ‘innovative’ will not do much to increase their work’s worth. ‘The value of a work of art that creates a public sensation can be immensely variable. For example, van Gogh’s vivid post-impressionistic canvases were largely derided in their day and wholly uncommercial, but now an original oil can fetch tens of millions at auction. By contrast, the contemporary artist Damien Hirst—who also pushes the boundaries of his time— held a “white glove” auction dedicated to his work, selling each and every work.’ It’s not uncommon for there to be huge variations in price and value of a work of art depending on its subject matter or date completed—doing research is key. Certain pieces by the same artist will be worth a lot more if they’re from a sought-after series or made in a year that has particular relevance to the artist’s work. This is best seen with Picasso paintings completed in 1932—the artist’s annus mirabilis—as well as pieces from his Rose Period, spanning from 1904 to 1906. Fillette à la Corbeille Fleurie (Young Girl with a Flower Basket), which the Spanish artist completed in 1904, fetched a staggering $115 million at a Christie’s New York sale in May 2018. Lastly, ensuring the provenance of a work of art is essential before purchase. Elhanani emphasises its importance: ‘Provenance is a critical component in establishing the authenticity of a work of art…having complete sale records allows a potential buyer to have confidence in the title, or absolute ownership of the work.’ On the growing issue of art forgery, MutualArt’s CEO warns investors to be wary when certain provenance documents cannot be supplied or if the information appears incorrect or suspect. ‘Provenance can be more difficult to establish for Old Master works, where the record of ownership is extensive and not always consistently documented across centuries. Many recent artists, such as Gerhard Richter, have strict numbering systems for their work, which helps to ensure fakes or forgeries can be swiftly identified. Other artists’ estates have established foundations that rely on expert knowledge of the artist’s working practice to authenticate works and remove fakes or forgeries from circulating on the market,’ he adds.
IMAGES © christie’s
collections // ART INVESTMENT
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ART INVESTMENT // Collections
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While the fame—or notoriety—of a particular artist may lend name recognition and a buzz to a particular work, there’s little evidence that consistently connects fame to value
IMAGES © Flickr (CC BY-SA 2.0) Michele M.F.
Improving returns on investment The best way to enhance ROI? Looking after a work of art, Elhanani says simply. ‘Good condition is paramount. Keeping the work in good condition could be as simple as ensuring a photograph is framed with UV-appropriate glass or protecting a sculpture from damage by keeping it away from high-traffic areas.’ As for fine art, the MutualArt CEO advises a more cautious approach to conservation: ‘In the case of works that use rare or scarce materials, conservation may be best managed with the advice of a professional.’ Condition aside, other factors that can impact the value of a work of art include the provenance or part ownership and the exhibition history of the artwork itself. Exhibiting it, loaning it to a museum or gallery for a defined period of time or having it included in a catalogue raisonné—the official survey of an artist’s work—can all enforce its provenance and, therefore, increase its value. To high net worth individuals with
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substantial budgets and a love for collecting, Elhanani suggests buying ‘works that are in good physical condition, by artists whose work is widely exhibited and who have an established secondary market and strong representation by a dealer.’
The right time to sell
Investors and collectors alike may struggle to determine the right time to buy or sell a work of art. This decision can be influenced by a wide range of factors, including collection management or a change in personal taste. ‘Collectors should assess the artist’s recent auction activity and exhibition history,’ Elhanani says, ‘Consider which sale avenue, private sale or auction is best suited for their work,’ the CEO adds. Any work of art contains both an intrinsic, intangible value and a market value—either for the purpose of sales or insurance. Specialists can help potential investors and collectors discern the latter: ‘When a work is consigned to an auction house, specialists
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—Zohar Elhanani, CEO, MutualArt
in a particular collecting area assess a wide range of factors such as authentication of the work, particularly for older works of art; whether the work is an original or an edition; its physical condition; past prices for the artist’s similar work; and how widely the work has been exhibited and written about,’ Elhanani reveals. In cases where there is significant public awareness of the artist and interest in their work, an auction house may also generate competition for the work. Beware of fluctuating or depreciating values—investors should seek out artists with strong gallery representation, as this means the artist’s work is being championed at the primary level. On the secondary market, an artwork’s value can fluctuate dramatically. However, there are also trailblazing models that allow individuals to release capital tied up in their assets without the need to sell their artwork. OMNIA Asset Solutions is one such model. ‘Collectors all share the desire to release capital tied up in their assets, which is notably difficult to do without having to sell,’ says Amelia Hunton, managing director of the company. ‘But this is what we offer. An alternative solution where they don’t have to sell the artwork, instead they pledge the artwork in return for an agreed annual income over a fixed period,’ she adds. This way, collectors are able to generate a cash flow off securitised assets with the additional benefits of the running costs—such as insurance, storage and transportation logistics—being covered by OMNIA.
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SPONSORED EDITORIAL
OMNIA Asset Solutions A New Player in the Art Finance Market
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MNIA Asset Solutions was launched to help collectors, institutions and corporations generate an income from their luxury assets. The company has been operating within the art finance sector for the past 18 months, officially launching their dedicated art finance division in July based in London—it has positioned itself as an alternative finance service to traditional art loans. Why art finance? Daniel Hansen, CEO of OMNIA Global: Our strength has always been as a provider for alternative financing, with our footprint in Private Equity investments in SMEs, Yachts and Aviation. We saw art finance as an under-served market, which offered a significant long-term business opportunity for us. With our in-house art and finance expertise, this business makes sense for our clients and us. Why are your clients looking for art finance? Amelia Hunton, Managing Director of OMNIA Asset Solutions: Our clients were looking for liquidity, to invest in other asset classes, for an alternative to selling, to avoid capital gains tax, and for alternative terms whereby they weren’t required to guarantee the loan personally or though their business.
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They all share the desire to release capital tied up in their art or assets, which is notably difficult to do without having to sell, and which can be time-consuming and costly taking into consideration transactional commission, tax and market volatility. What makes your product different to other art finance services, and how does it work? DH: Collections are becoming a bigger part of the combined wealth of our clients, but they don’t accumulate cash flow. We have structured a solution, which allows clients to use their assets as the base of a cash flow. AH: We offer a solution where they don’t have to sell the artwork, instead they pledge the artwork in return for an agreed annual income over five years. We securitise the assets with a non-recourse guarantee, this means in the event of default we can sell the art to recover our money but have no further recourse to other assets of the asset pledger. The art finance sector, historically, was either funded by banks or art finance advisories. And their terms have been usually quite tight and they have taken personal or business guarantees against the loans. A lot of clients in this space are keen to move away from the model of a personal
“There are a multitude of factors why the current art finance model isn’t ideal” —Amelia Hunton guarantee or the guarantee against their personal businesses. So what OMNIA wanted to do in the art finance space was to create an entirely new product.
omniaassetsolutions.com
06/08/2018 10:24
GENERATE CASH FLOW FROM YOUR ASSET INVESTMENTS
OMNIA ASSET SOLUTIONS
An asset management company with offices in London, Zug and Luxembourg. OMNIA Asset Solutions offers cash flow generation, asset financing and opportunities for exposure of collections of fine art, precious stones, classic cars and the like. The company is a subsidiary of OMNIA Global. Find out what we can do for you and your collection at omniaas.com
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collections // BANK OF AMERICA
Preserving
History’s riches By Phoebe Ollerearnshaw
IMAGES: © Bank of America
With input from Bank of America’s Rena DeSisto and the Brooklyn Museum’s Lisa Bruno, Arts & Collections takes a detailed look into the Art Conservation Project and its ongoing efforts to restore six Assyrian reliefs
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BANK OF AMERICA // Collections
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ince 2010, Bank of America has provided grants for not-for-profit museums to facilitate the conservation of significant artwork and historical treasures. Today, the Art Conservation Project has executed approximately 150 such operations, covering artefacts from 30 countries across six of the seven continents. This is one of several cultural diplomacy efforts that Bank of America undertakes to celebrate and protect the arts. The Art Conservation Project manages between 14 and 21 grants per year. Rena DeSisto, global arts and culture executive at Bank of America, reveals that the competition for the grants is fierce: ‘As the programme has become really well known, we have received more and more applications— we’ve received 300 this year. As you can imagine, it becomes more challenging to pick and choose,’ she says. The projects seek to restore heirlooms from different cultures, artistic movements, styles, geographical locations and eras. ‘We try to be diverse, to choose things from different time periods so that we’re shining a light on many different parts of the world,’ DeSisto explains. At present, the Art Conservation Project is funding the maintenance of a collection of Assyrian reliefs displayed in the Brooklyn Museum. The museum has 12 Assyrian reliefs in total, six of which have previously received conservation treatment. The remaining six are currently being restored by Bank of America’s scheme where a team of eight conservators are working on the project. The towering alabaster reliefs have proven to be a perennial favourite amongst museumgoers and a shining example of ancient craftsmanship. Having been housed in the Brooklyn Museum’s Hagop Kevorkian Gallery of Ancient Near Eastern Art since 1937, they have become a cornerstone of the institution. The impressive artefacts were completed in 879 BCE. They were designed to adorn Assyrian King Ashurnasirpal II’s lavish northwest palace, which lies on the Tigris River at Kalhu—known today as Nimrud, located slightly north of Baghdad, Iraq. Carol Lee Shen chief conservator at the Brooklyn Museum, Lisa Bruno, has been coordinating the project by assessing the treatment strategy of the artefacts and executing the plans. She explains that the reliefs have been ‘carved with majestic images of kings, divinities, sacred trees and magical beings called “apkallu” in the language of the Assyrians—translated as “genie” in English.
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These winged figures could be humanheaded or eagle-headed.’ The panels of the sculptures are extremely intricate in their design. Detailed images portray supernatural figures engaging in ritual tasks, providing a genuine glimpse into the beliefs of this Neo-Assyrian civilisation. Upon closer inspection, cuneiform inscriptions praise Ashurnasirpal as a ruler—specifically his triumphs in war. The religious, political and aesthetic contexts that these artefacts provide are immeasurable. ‘These artefacts are a window into our current civilisation and as such remind us of
this link to the past. Today, all people from different cultures and backgrounds share the same motivations, desires, fears and dreams as those ancient people. Their beliefs may be different than ours but their motives to create these reliefs, showing wealth and power, are certainly familiar today,’ Bruno says. A team of conservators have been working to remove the six reliefs from the wall to clean their surfaces, repair breakages and re-mount them for reinstallation into the gallery. Each project member has been highly trained to handle delicate artefacts such as these. The restoration process is expected to last two
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collections // BANK OF AMERICA
What art conservation means to…
I was lucky in that I discovered the field of art conservation at a young age. When I was in eighth grade in northwestern Pennsylvania, my art teacher showed me a newspaper article about art conservators at the Metropolitan Museum of Art. They were X-raying Rembrandt paintings in an effort to determine whether the paintings were by Rembrandt or by the school of Rembrandt. It totally hooked me
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My background: I studied economics. I’m not an art history major or anything like that, I just love the arts. I always have, ever since I was a six-year-old being forced to listen to opera during Sunday dinner, which I hated then but I love now. I transitioned into marketing and communications and then worked in the philanthropic division of the company [Bank of America]. I feel as though marketing, communications and philanthropy have all come together in this work that I’m doing now
IMAGES: © Jonathan Dorado, Brooklyn Museum
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Rena DeSisto
Global arts and culture executive—Bank of America
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Lisa Bruno
Carol Lee Shen chief conservator—Brooklyn Museum
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years in total; each step is carefully executed and meticulously documented. Conservation, as a practice, is constantly evolving. For this reason, conservators must stay up to date with the latest techniques and processes—a notion that Bruno is very familiar with. In the case of the Assyrian reliefs, the process of mortar removal that was used for the previous six artefacts has been updated. Beforehand, Bruno’s team removed the mortar mechanically with scalpels, chisels and a vibrating engraving tool. ‘It was a slow and painstaking process requiring precise hand skills […] the risk of damage to the stone was high,’ Bruno says. Now, in 2018, they have a laser at their disposal. The laser harnesses technology used in tattoo removal, it increases precision and saves valuable time. A contributing factor to the urgency of this particular conservation mission is the threat faced by similar artefacts in Iraq. The archaeological site in Nimrud, where the reliefs originated, suffered serious damage at the hands of the terrorist group, Islamic State, in 2015. Ancient polytheistic images such as these were purposefully targeted during a series of violent raids. For this reason, DeSisto stipulates that ‘if they [the Assyrian reliefs] were still in situ they would be in danger.’ The nature of their origin emphasises the need for continued protection of cultural artefacts in certain provinces—especially in times of turmoil and unrest. Considering their ‘endangered status’, there has never been a more pertinent time for art and history enthusiasts to experience them first-hand. ‘It’s important to spread the knowledge of many cultures. Art is a record of history and culture and human thought throughout the ages. We live in a very interconnected world and there’s a lot of benefit to understanding cultures not only as they are today but as they were,’ DeSisto maintains. By dedicating their time, resources and expert knowledge, members of the Art Conservation Project consistently accomplish their goal of replenishing the store cupboard of history. The six Assyrian artefacts from the Brooklyn Museum are steadily being brought back to life and will once again bring joy and knowledge to those they come into contact with. Restoring such items is pivotal to their longevity; it confirms that they can be seen, studied and enjoyed for generations to come.
36 CollectionS www.artsandcollections.com
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Marbella’s Finest
Exquisite 10 bedroom Beachfront Estate, €11,950,000
Contemporary beachside villa. €1,800,000
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186 Sloane Street London SW1X 9QR United Kingdom +44 (0)20 7754 9157
26/09/2018 15:04
collections // WEALTH MANAGEMENT
Looking after the
Nest Egg By Kayley Loveridge
In the current tumultuous economic climate, it’s crucial to preserve and nurture our financial wellbeing so that an individual’s entire wealth status can be catered to with personalised plans on an ongoing basis. In fact, EY are confident that holistic wealth managers will go on to gain a market share of as much as 30 percent by 2025. Knowing which avenue to take when it comes to protecting your finances is the first step in successful wealth management.
A new perspective
Financial planning
An unsettled economic climate—one that, in the U.K., is currently in the throes of Brexit uncertainty—makes for an erratic financial market. To this end, more and more high net worth individuals are moving away from once traditional financial investment routes such as stocks and property, to more stable and increasingly prosperous alternative assets such as art, fine wine and valuable collections steeped in provenance. With a rapidly developing and ever-changing financial landscape, wealth managers are now also beginning to steer towards a more holistic approach to financial management,
Wealth managers are experts in financial planning to preserve current assets. Through in-depth analysis on capital ingoings, outgoings, savings and personal financial goals (such as mortgage repayment or retirement), wealth managers are well-placed to aid beneficiaries in cost control. Financial planners will recommend a plan to achieve such goals within an agreed period of time while minimising tax obligations. Specialists in financial planning also provide clients with a bigger picture of their current finances. Clients can see where they are in their savings goals and
have the flexibility to adapt requirements as personal circumstances change so that those goals are still met.
Investment management Beyond financial planning services, wealth management companies employ investment or fund managers to work in conjunction with them to enrich and further the prosperity of their clients. Investment managers allocate a client’s wealth into various investment categories such as stock selection, property, entrepreneurship and alternative assets, or even investing a sum of money into mutual funds which could potentially incur more than 10 percent interest over time, to generate impressive revenue streams for the investor. Investment is considered the best security measure for the future. It’s not without its risks, however; in some cases, investors can lose capital, but with an experienced and successful advisor, clients can potentially see up to a 10-15 percent annual return on investments.
IMAGES © shutterstock
T
he wealth management market is currently estimated to be worth a staggering $55,000 billion, according to global accounting firm EY. It’s no surprise then that wealth management is a key priority for the world’s high net worth individuals looking to preserve their finances and increase the growth potential of their investable portfolios.
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UK: +44 (0)20 7833 3500 US: +1 212 465 7800 NZ: +64 4 499 6444 mail@frankhirth.com www.frankhirth.com
US/UK tax advice and compliance. Get tax advice from the experts. We can help with ensuring full compliance with US/UK taxes, tax planning for non-domiciles and much more. This advert has been written for the general interest of our clients and contacts and is subject to our Disclaimer: please see www.frankhirth.com/disclaimer Š Frank Hirth September 2018
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collections // Architecture
Enigmatic Legacy By Phoebe Ollerearnshaw
M
ichelozzo di Bartolomeo (13961472) was an Italian architect and sculptor. His vast contribution to the early Renaissance movement solidified him as one of the most prolific architects of all time. His ingenuity helped pave the way for the development of the central palazzo configuration that defines the visage of Italy—even to this day. Michelozzo was born in Florence the son of a tailor. Very little is known about the architect’s childhood apart from the fact that he was bred into a relatively wealthy family. From a young age, he became very skilled at casting bronze, an expertise that would lead to two outstanding partnerships during his career. The first occurred in the early 1420s with accomplished goldsmith and sculptor, Lorenzo Ghiberti. One of Michelozzo’s most prominent projects with Ghiberti was the North Doors (1403-1424) of the Baptistery, which depict stories told in the New Testament.
The second of his partnerships was with Donato di Niccolò di Betto Bardi, better known as Donatello. Under his tutelage, Michelozzo assisted in the building of the sacristy of the Santa Trínita in Florence, displaying innovative architecture that fuses late-Gothic and antique styles. While working with Donatello, Michelozzo executed a number of funerary monuments, with Antipope John XXIII’s tomb being one of the most noteworthy. Michelozzo’s style owes much to Filippo Brunelleschi; the two shared a propensity for classical motifs and the use of contrasting materials. Michelozzo’s structures, however, differed in the sense that they often retained certain Gothic elements. He was bold in his decision-making, a trait that was exemplified by his use of fluted, freestanding columns—a technique Brunelleschi only used on pilasters. Throughout his career, Michelozzo was closely associated with his principal patron, Cosimo de’ Medici, founder of
the esteemed Medici dynasty. He was the Medici’s architect for almost 40 years. In fact, in 1445, Michelozzo was commissioned as the key designer for the Palazzo Medici. This spectacular monument is commonly referred to as the first Renaissance palace, marking the birth of an archetypal style. Numerous innovations were added to the façade by Michelozzo, including the use of bugnato degradante—a technique that employs unevenly cut stones which grow lighter as they ascend to the building’s upper stories. Despite the enormity of his influence on the early Renaissance, Michelozzo still remains relatively unknown when compared to the period’s greats. In spite of this, his dazzling designs and pioneering ideas have made a lasting impact on classic Italian architecture. His elegant formulations remain at the core of the widespread architectural language of 15th-century Florence, which has subsequently permeated into modernday design.
IMAGES: © shutterstock
Through innovative, clean and intricate craftsmanship, Michelozzo carved himself a legacy—one that has reverberated throughout the streets of Italy ever since
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collections // CRYPTOCURRENCY
Democratising Fine Art
with Cryptocurrency & Blockchain By sam stevenson
O
nce iconoclastic and inaccessible, cryptocurrencies are fast earning a reputation as a viable way to buy and sell art. In a nod towards the technology’s burgeoning legitimacy, there are currently about 28.5 million bitcoin wallet addresses. What’s more, it’s not just millennials getting involved. The top three cryptoinvestors, according to Forbes, are in their 40s and 50s, with a combined crypto worth of over $10 billion. This digital upsurge signifies that a centuries-old institution is on the brink of revolution. In the information age, it pays to be digitally astute. But how can conventional
connoisseurs and collectors unravel the enigma enshrouding the world of digital currency? How are digital assets used in art sales? And, more importantly, why?
Maecenas: A digital art investment platform Marcelo García Casil, CEO of Maecenas—an art investment blockchain-based platform— is dominating the intersection between cryptocurrency and art. His platform seeks to revolutionise the art market by allowing everyone to invest in fractions of fine artworks by blue chip artists such as Claude Monet,
Pablo Picasso and Andy Warhol. The fractional shares are then traded on a blockchain-based exchange platform, much like the shares of public companies. Recently listed in Sotheby’s Institute of Art’s top 11 art world entrepreneurs of 2018, García Casil believes cryptocurrency’s underlying Blockchain technology is the ideal tool for the art world. Blockchain’s efficacy is thanks—in large part—to its transparency and ability to connect buyers and sellers directly, the crypto-entrepreneur divulges. ‘Cryptocurrencies provide a bridge between the closed-off fine art market to a decentralised open source world where
IMAGES: © shutterstock; Eleesa dadiani; maecenas
Art and cryptocurrency, it seems, could be kindred spirits. Arts & Collections explores this ever-deepening relationship
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CRYPTOCURRENCY // Collections
many more will be able to become a part of this exhilarating market,’ he reveals.
the people’s auction Self-styled early adopter Eleesa Dadiani is reshaping an establishment steeped in tradition. Her multidimensional company, Dadiani Syndicate, partnered with Maecenas to stage one of the world’s first blue chip artist cryptocurrency auctions. The sale, which launched 25 July 2018, allowed Bitcoin bidders to own a share of Andy Warhol’s multimillion-pound 14 Small Electric Chairs (1980). The auction’s purpose was twofold. First, it blazed a trail for those that will follow. Second, it brought the world of fine art investment to a broader pool of individuals. ‘It has been to some extent overwhelming because there has been a lot of anticipation,’ Dadiani confesses. The ambitiously structured auction proved to be a major success, attracting more than 800 sign-ups within weeks and raising $1.7 million for 31.5 percent of the artwork at a valuation of $5.6 million. The sale also made groundbreaking history; it is the first time a high-profile piece of art from a worldrenowned artist has been auctioned using blockchain technology.
The democratisation of art Through their cryptocurrency auction, Dadiani Syndicate and Maecenas aim to unlock a formerly inaccessible world by ‘democratising’ fine art. For them, the ‘democratisation of art’ is a way to bring an exclusive world into an accessible sphere.
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‘We are restructuring what was accepted as the norm before,’ Dadiani says. ‘Before, the art world and industry was enclosed. It was only for certain actors, certain participants, but now we are creating a system whereby more people can participate and, in fact, contribute to the value of art.’ The art dealer of Georgian-Jewish-Russian descent divulges how the democratisation of art permits the wider public to get involved not only from an investment angle, but also from a cultural and historical angle. This approach, Dadiani believes, is undoing what she refers to as the ‘privatisation of history’, whereby important items of historical interest are reserved for the select few to enjoy. ‘We are practising the consensus model this way—because the public have consented to [the artwork] being on public display,’ she says. And all this, Dadiani explains, is made possible through the blockchain.
The blockchain effect Blockchain underpins cryptocurrency. A blockchain is a digital ledger—a way of recording all transactions chronologically. This list of records (called ‘blocks’) is linked and secured using cryptography. The technology is making its mark on the art world, with some claiming it can aid the provenance of a given work. ‘Blockchain creates an immutable, traceable record of every transaction,’ explains García Casil. ‘This provenance trail provides the trust needed in a currently largely unregulated market.’ In this sense, the technology could play a key role in confronting the art forgery market. Perhaps, as García Casil suggests,
Above: Andy Warhol 14 Small Electric Chairs, 1980 Silkscreen ink and polymer paint on canvas 202 x 82 cm.
authenticating artwork via blockchain will soon become common practice. Indeed, the crypto enthusiast likes to imagine a world where any artwork not registered on a blockchain would be considered a fake. Meanwhile, Dadiani argues everything is now being remodelled using the blockchain. For her, we must remodel all existing structures, systems and business models on a new blockchain foundation. ‘Everything was becoming so structured, so privatised; it felt there was no space for anything new. And then, suddenly, there was this new technology. And with it came wonderful chaos. And through this chaos, we are finding our new order,’ she says. Cryptocurrency and blockchain’s lasting impact on the art world is yet to be seen. But Bitcoin bellwethers like García Casil and Dadiani are paving the way with gusto. Fortune, they say, favours the brave. Through their interpretation of the zeitgeist, these tech trendsetters hope the adage rings true.
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collections // YACHTS
Seas Going Green By Annalisa D’Alessio
IMAGES © shutterstock
Until now, travelling by yacht has been known to be one of the least ecological ways to get around—that could be about to change
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YACHTS // Collections
C
harming, luxurious and extravagant. Globetrotting on a yacht can be neatly summed up with these three words. However, what about the effect it has on the planet? With conversations about pollution and global warming getting increasingly louder and harder to ignore, taking care of the marine environment has never been more important. How does this form of transport fit into this new way of thinking? According to research, yachts over 100 feet long can guzzle around 530 gallons of marine diesel in just one hour of travelling at 35 knots. This is, roughly, equivalent to six tonnes of carbon dioxide emissions per hour. As a direct response to consumer demand—and new legislations requiring newly built yachts to slash their sulphur and nitrogen oxide emissions by 80 percent in the U.S.—the yachting industry is taking matters into its own hands. In addition to building with sustainable materials, shipyards are incorporating ‘green’ technologies in new yachts such as electric engines, hybrid propulsion systems and fuel-efficient hull designs. Impressive advances of green technology are creating a wave of new designs that are sure to change the future of luxury boating.
The Solarwave
Conscientious passengers Whether a yacht is chartered or owned, there are certain actions its passengers can consider to decrease their carbon footprint. Using heating and air conditioning systems that are fit for purpose and meet the requirements of the Montreal Protocol—an international treaty regarding substances that deplete the ozone layer—is a strong step towards environmental consciousness, as is using water mist-based fire-fighting systems rather than gas-charged ones
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Launched in June 2016 by a Swiss firm of the same name, the Solarwave can be powered entirely by solar panels found on its roof. The first-ever yacht of this kind, it has faced stellar demand—so much so that the manufacturer was forced to create a second production line. Solarwave CEO Michael Köhler said consumer appetite for this new ‘green machine’ was far higher than initially estimated; many have been sold in the U.S., Europe and China. According to the Solarwave website, the price for these nautical works of art starts at $2.2 million.
GTT 115 Unveiled as part of the Monaco Yacht Show 2017 (which took place between 27-30 September), the Gran Turismo Transatlantic 115—developed as a collaboration between Dynamiq and Studio
F.A. Porsche—is a true collector’s yacht. Only seven units were created. Sergei Dobroserdov, CEO of Dynamiq, suggests it was also made with the environment in mind: ‘Its hybrid system with three variable-speed generators is based on the principle of building sustainable yachts for the future.’ The super-efficient performing yacht boasts a range of 3,400 nautical miles, reduced noise, vibration and emissions. Prices start from €12 million— accurate at the time of print.
AMELS 188 This is a yacht that combines hybrid electrical power with modern elegance and luxury. Its first models were delivered in July 2018. Built to travel and cruise worldwide, the super yacht features high levels of comfort, low noise and vibration levels. The Hybrid Switchboard is the core of the futuristic AMELS 188; combining three energy sources—mechanical, electrical and heat. This super yacht is the result of an 18-month-long research programme geared towards lowering its impact on the environment and operating potential cost savings of €100,000 a year. In addition to the Hybrid Switchboard, other eco-friendly features of this futuristic yacht include a gas purification system and heat-absorbing windows to reduce air conditioning needs. According to the manufacturer, the AMELS 188 is also the first Dutch-built yacht to meet new International Maritime Organisation regulations for yacht emissions.
Green features There are various actions that can be taken at the planning stages to ensure yachts are as green as they can possibly be. From differently shaped hulls that reduce propulsion power and improve performance to synthetic decking, manufacturers are devoting increasing amounts of time and money on creating environmentally conscious yachts that are fit for purpose. Electric Pod drives—for instance—which are powered by diesel generators, increase manoeuvrability, lower maintenance of the yacht and are also effective in reducing fuel consumption at all speeds.
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collections // ART
Dreaming in By Kayley Loveridge
Dripping with exuberance, the Tiffany lamp’s iridescent, cascading lead stained glass designs are synonymous with the striking Art Nouveau movement of the early 20th century
What made Tiffany Studios’ glass creations so revolutionary during this time was not simply its opulent, cascading designs, but the development of the glass itself. Up until this point in time, most stained glass windows were produced with white and coloured glass panes with specialist glass paint used to accentuate details within a scene before firing and leading. Yet Tiffany, along with renowned stained glass window maker and early rival John La Farge, experimented with new types of glass to achieve a deeper variety of colours and hues to innovatively enrich their glasswork. Tiffany had patented an opalescent glass (a method coined ‘favrile’) that was milky in appearance and took on an almost rainbow hue when introduced to light. This new method allowed craftsmen to implement a range of brilliant colour gradients and hues into scenes without painting the glass. In 1898, an already well-established Tiffany Studios—also renowned for creating blown glass vases as well as Left: A rare and important ‘Gourd’ Floor Lamp c.1900-1906 Leaded glass, patinated bronze 72in high Estimate: $600,000-$800,000 Price realised: $948,500 Sold by Christie’s in New York, December 2017.
IMAGES: © christie’s images ltd. 2017
T
he world is well acquainted with the classic, timeless jewellery staples of Tiffany & Co., founded by Charles Lewis Tiffany—but what of Louis Comfort Tiffany, the diamond titan’s son and founder of Tiffany Studios? The exquisite, tinkling designs of the famously ethereal Tiffany lamps were the brainchild of this Tiffany family member, who would go on to carve his own artistic path away from his father’s identity and become one of the most renowned creatives of the Art Nouveau movement in America. Characterised by flowing long lines and representing all things nature, art within this period typically manifested in architecture, interiors, jewellery and glass design. Tiffany began his early career as a painter and travelled throughout Europe, picking up inspiration along the way. It wasn’t until the 1870s that the artist focused all his talents on decorative arts and home interiors with his company, Tiffany Studios. His first significant leaded stained glass piece was built for his own home in 1878: the leaded glass window of his entrance hall. Of all of his ventures, leaded glass would prove to be the artist’s most popular medium—these famous stained glass lamps found homes in the wealthiest residences of early 1900s New York City.
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ART // Collections
Right: Tiffany Studios Wisteria Table Lamps, c.1901-05 Leaded glass, patinated bronze 27in high Estimate: $700,000-$1,000,000 each Prices realised: $1,205,000 and $1,145,000 Sold by Sotheby’s in New York, December 2014.
stained glass windows—moved on from decorative interiors to lighting and lamps, and so the lucrative Tiffany lamps were born.
Success at auction
IMAGES: © Sotheby’s
Spotting a genuine Tiffany lamp Like almost all coveted pieces of art throughout history, Tiffany lamps have been subject to major forgery scams. As technology advances, duplicates make differentiating between a fake and an original harder and harder. There are some key factors collectors can keep in mind to help determine whether a Tiffany lamp is genuine or not. Firstly, take note of the lamp’s base. Tiffany created most of the lamps using a bronze base. The company did not use brass or zinc to model the bases, which are common materials used in copies.
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As bronze was an expensive material to procure during that period, the lamp bases were largely hollow, as well. In order to ensure the base was sturdy enough to support the glass shades, the craftsmen placed a heavy lead ring inside the base. To check for this authenticating feature, simply lift the base cap to look inside. Be aware also of the quality of the glass used in the shades. As mentioned above, Tiffany lamps were made using specially developed, iridescent glass unique to Tiffany Studios. Most lamps were finished with an authentication stamp printed beneath the base, stating ‘Tiffany Studios New York’. If buying from an antique store, be sure to ask the merchant about the provenance of the piece, and whether they have the necessary paperwork to show who the lamp belonged to in the past for further authentication. Beyond taking these measures, would-be collectors should speak with an expert who specialises in forgeries for further advice before buying.
“
Colour is to the eye what music is to the ear. I have always striven to fix beauty in wood, stone, glass or pottery, in oil or watercolour by using whatever seemed fittest for the expression of beauty, that has been my creed —Louis Comfort Tiffany
“
Tiffany lamps range in price from as low as $1,000 up into the millions, but it’s at auction that these decorative pieces truly shine. Tiffany’s unique lamp designs have seen huge success throughout the world in recent years. The sensational Wisteria Table Lamps (c.1901-05)—each feature around 2,000 unique pieces of stained glass in green, blue and purple hues to represent a cascading wisteria plant sat atop a patinated bronze base— sold for $1,205,000 and $1,145,000 at a 2014 Sotheby’s auction in New York. Elsewhere, at a 2017 Sotheby’s auction, Tiffany: Dreaming in Glass in New York, a rare Cobweb and Apple Table Lamp (c.1900-1905) went under the hammer for a staggering $1,155,000, showing that these early 20th century creations are still high in demand more than 100 years on.
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IMAGES © sotheby’s
collections // Watches
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Watches // Collections
Watch This Space By Phoebe Ollerearnshaw
Luxury watch companies must adapt to changes in consumer behaviour or run the risk of becoming irrelevant—Arts & Collections investigates this lucrative industry
T
he concept of the wristwatch came into fruition during World War I; they were originally worn by soldiers as a convenient and practical way to timekeep. Since then, this horological device has reached a ubiquitous status. It has gradually morphed into a lavish accessory, admired not just for its capabilities in telling time, but also for its masterful design and craftsmanship. The global watch market is dominated by a small handful of countries—clear leaders being Switzerland and China. A few years ago, the once proud luxury watch market saw a huge decrease in sales and popularity. Circa 2017, the industry was in its weakest position since the early 80s. The rise of the smartwatch and the collapse of several key global markets meant that the timepiece industry was in turmoil. So, what are luxury manufacturers doing to encourage consumers to fall back in love with watches?
Supply versus demand After a worrying two-year slump in the market, signs that sales in the luxury timepiece market are tentatively rebounding are beginning to show. The dip in sales was sparked by a number of factors with sluggish economic growth being the most significant. Prominent terrorist attacks in France and Germany prompted a decline in tourists
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(predominantly Chinese) in Europe. Plus, the emergence of the smartwatch created a new dynamic within a firmly traditional industry. Now, Swiss watch export figures—which act as a barometer for the health of the global trade—saw their strongest growth for more than five years in 2017, according to a report by the Federation of the Swiss Watch Industry. Hong Kong and China were the top markets for Swiss watches; sales rose by 21.3 percent and 44.3 percent in Hong Kong and mainland China respectively.
Brexit’s contribution Figures show that the British referendum marked a turnaround for the luxury timepiece industry. The weakening of the pound made the U.K. a global bargain basement for luxury watches. In the first half of 2016, Swatch Group’s operating profits plummeted by 54 percent, a loss of £320 million. But the diminished postvote pound boosted sales in several of the European company’s luxury brands' flagship stores. Esteemed proprietors Omega and Blancpain reported sharp sale rises in their London stores. Well-known retailers also began to cash in. Harrods noted a direct increase in sales of watches worth over £200,000. Soon after, prices were adjusted to reflect the currency fluctuation.
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“
The definition of a luxury watch will return back to what it once meant: a highly handcrafted unique piece of art—akin to what we see in a Picasso, a Rolls Royce or a hand-crafted Hermès bag
— Søren Jenry Petersen, president & CEO, Urban Jürgensen
“
A MATURING MARKET There’s a growing concern within the watch community that younger generations are becoming indifferent to traditional timepieces. This poses a big problem, for it is they who are being counted on as future consumers. What marks them apart is their different attitude to spending. For a generation that is largely in debt, it follows that they will naturally be more frugal. Wilhelm Schmid, chief executive of watch brand A. Lange & Söhne, commented: ‘We should keep in mind that the oldest digital natives are just 20 years old and will only appear as buyers of high-end watches in a few years’ time. It is true however, that an upcoming generation that grew up in a digital world may have different values and develop a new consumer behaviour.’ Farer co-founder Jono Holt agrees with this speculation:: ‘This is a consumer who wants to buy things that last a lifetime. No other generation has been so informed in the purchases they make than now. For the luxury watch industry, this will mean having to behave in more open ways than they have ever had to do in the past.’
EMBRACING DIGITAL Technology has come a long way in the last few decades; global brands are having to adapt quickly to keep up with the ever-changing climate. When smartwatches came bolstering onto the scene, many experts regarded them as a game changer. The topic of smartwatches has created a degree of division amongst watch specialists: some view their presence as positive while others view it as negative.
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‘Watches became irrelevant as soon as the smartphone hit the scene,’ comments Emily Stoll, director of north American sales at Swiss watchmaker Carl F. Bucherer. However, not everyone has the same bleak outlook. Adrian Hofer, consumer industry goods specialist, told the Financial Times: ‘I don’t think the luxury segment of watches will suffer from smartwatches. ‘It is jewellery, a status symbol, a mechanical product. It is about experience and heritage. That is hard to cannibalise by taking a purely functional approach,’ he added. Chief executive of Nomos Glashütte Uwe Ahrendt believes smartwatches will bring the accessory back into the general consciousness. ‘The smartwatch is certainly changing the market, but they also attract attention back to the wrist,’ Ahrendt says. In response to the demand for smart technology, extra functionalities are being built into traditional analogue watches, creating the best of both worlds. Private luxury strap retailer Excedo Luxuria has seen an influx in requests for the inclusion of key fobs and RFID strips that alert owners if the piece goes missing. The bonus of additional functions existing within the strap is that the integrity and design of the watch face itself stay intact. According to Deloitte, 60 percent of consumers now use online or digital channels to research prices and information when p purchasing watches, and social media’s influence is proving to be supremely significant in this respect. Key influencers are driving the sale of luxury items via inspiring blog, Facebook and Instagram posts. ‘The luxury watch industry has to embrace and react to the trends in social media in order to successfully engage this generation,’ recommends Stoll. After years of resistance, luxury brand Rolex took the plunge and joined social media in 2013. They posted their first photo on Instagram in 2015 and have since gained 8.7 million followers. This is the perfect example of a brand, steeped in heritage and history, adapting its marketing methods to suit modern audiences. At present, there is optimism among analysts that some of the sector’s long-term challenges have abated and the market will continue to improve—only time will tell. Søren Jenry Petersen, president & CEO, Urban Jürgensen maintains: 'The definition of a luxury watch will return back to what it once meant: a highly handcrafted unique piece of art—akin to what we see in a Picasso, a Rolls Royce or a handcrafted Hermès bag.'
IMAGES © ROLEX; APPLE
COLLECTIONS // WATCHES
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Miss Victoria +44 7468 413513 @backesandstrauss www.backesandstrauss.com
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IMAGES: © shutterstock
collections // WHISKY
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WHISKY // Collections
Japanese Whisky Tradition & Reinvention By Phoebe Ollerearnshaw
Spirit connoisseurs have become enamoured with Japanese whisky in recent years. Merging traditional methodologies with native flavours, these varieties have taken on a personality of their own
I
t was once widely accepted that no whisky could measure up to the Scotch variety—after all, Scotland was the birthplace of the amber spirit. Nowadays, however, skilled Japanese producers are quashing such notions. Traditionally, Japan was known for its sublime sake and shōchū. Now, it is being heralded by spirit connoisseurs as one of the leading whisky manufacturers in the world. But how did the country attain such standing and how will it cope with the ever-increasing demand for its renowned products?
Back to the beginning Enjoyment of whisky has become a solid fixture in Japan. The history behind the spirit’s success stretches back a whole century— its two pioneers were Shinjiro Torii and Masataka Taketsuru. Torii was the founder of renowned distillery Kotobukiya—later to become Suntory—the first company to sell Japanese whisky on a mass scale. Taketsuru was hired as Torii’s distillery executive; he journeyed to Scotland in 1918 to learn how to make authentic Scotch whisky, bringing his newfound knowledge back to Japan. In 1934, Taketsuru left to form his own company, which would later be known as Nikka. Today, Suntory and Nikka control the lion’s share of the Japanese whisky market. Decades elapsed before Japanese whisky began to gain worldwide popularity. Before 2000, the market was almost purely domestic. This all changed in 2001 when Nikka’s 10-year Yoichi single malt won ‘Best of the Best’ at Whisky Magazine’s awards. Just a few years later, Bill Murray starred in
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the blockbuster Lost in Translation (2003). The film involved a scene in which Murray’s character (Bob Harris) filmed a Suntory whisky commercial. This catapulted the relatively obscure spirit into popular culture, sparking demand for it in the U.S. and elsewhere.
A taste of Japan Japanese whisky producers are revered for their dedication to craftsmanship, where close precision is applied to every single step in the production process. Distilleries go to great lengths to facilitate the perfect environment for crafting their products. River water, which is used for whisky-making, is kept crystal-clear for this specific purpose. Meanwhile, local distilleries harness moist Japanese climates to extend the age of their whiskies. Producers also opt for native woods like mizunara (Japanese oak) to form their ageing barrels. This imparts a delightfully mellow flavour and a distinctly aromatic bouquet into the spirit. Japanese whisky puts a huge emphasis on blending and combining spirits between barrels to make complex hybrids that are full of character and body. Generally, Japanese whisky covers a wide range of notes. Different yeasts and stills help to shape the flavour of the specific variety, as does the choice of cask: from bourbon and sherry casks to recharred casks.
Mastering the highball Highballs have been all the rage in Japan ever since Suntory aired a campaign some years ago promoting their consumption.
The drink simply consists of whisky with sparkling water and ice. But don’t let this seemingly pedestrian concoction fool you— the highball is considered an art form in Japan. Japanese bar culture encapsulates a distinctive sense of rigour; in the case of the highball, each element is considered carefully. The artful garnish, the sourcing of the water, the presentation of the glass; even the shape and clarity of the ice is taken into account—in upmarket establishments, the ice may even be hand-carved.
While stocks last The relentless demand for Japanese whisky has led to a drought—much to the dismay of whisky lovers. Distilleries like Suntory have had to halt production on some of their most luxurious lines; the Hibiki 17 and the Hakushu 12 were discontinued earlier this year. ‘Seventeen years ago, people weren’t drinking that much Japanese whisky, so Suntory and (rival distillery) Nikka weren’t making much,’ said Brian Ashcraft, co-author of Japanese Whisky: the Ultimate Guide to the World’s Most Desirable Spirit (2018). ‘Unfortunately, increased demand with a scant supply will result in shortages,’ he added. There is a silver lining to this seemingly stark situation, though. Japanese manufacturers have reacted to the shortage by creating younger, more experimental whisky blends. Individuals in possession of Japanese whisky with age statements can also rejoice in the knowledge that they are likely to increase in value in the coming years. Bottles from discontinued lines are now especially desirable to prospective investors and collectors.
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09/07/2018 10:59
Travel // Collections
By Phoebe Ollerearnshaw
IMAGES © shutterstock
Each location within the Indian Ocean is enriched with its own unique character and history
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O
f all the world’s oceanic divisions, the Indian Ocean is the third largest. Located between Africa, Australasia and the Southern Ocean, the region embraces a vast mix of landscapes and cultures. Whether you’re in search of calm lagoons, slick restaurants and cool highlands or timeless ruins, astounding wildlife and lambent coral reefs, the Indian Ocean has something for everyone.
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Zanzibar When to go: June to October Flight time: London to Zanzibar (one stop), approximately 13 hours Best for: Island adventures Sitting just off the coast of Tanzania is Zanzibar. Contrary to popular belief, it is an archipelago of islands with Unguja—known as Zanzibar Island—and Pemba being the two largest. Zanzibar Island is nicknamed the ‘spice island’, unsurprising then is its focus on flavourful cuisine. Travellers can engage their senses by navigating the abundant street food vendors that dish up fried and scrumptious snacks. Common dishes include Zanzibar pizza— eggs, meat or vegetables wrapped in fried dough—octopus curry, biryani and sweet mandazi (Swahili doughnuts). The vivacity
of Zanzibar’s Shirazi heritage is instantly apparent, even from stepping off the plane. Plantation homes make for an interesting escapade, while Stone Town provides a wealth of intriguing historical sites. Being surrounded by some of the world’s finest vistas, Zanzibar is the ultimate place for beach-bumming. There is also a plethora of activities to keep tourists entertained such as deep sea fishing, snorkelling and windsurfing.
Don’t miss: Cultural Arts Centre Founded in 2008, the Cultural Arts Centre promotes the indigenous culture of Zanzibar and provides sustainable livelihoods for local artisans. The centre and shop deliver a refreshing take on the usual crafts found elsewhere in Stone Town, focusing instead on traditional techniques and materials. Try your hand at one of the courses that teach art, jewellery and soap creation.
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is luxury accommodation; quality hotels provide packages and lodging to suit every circumstance. Visitors are also never in want of an elegant meal; high-class restaurants across the Maldives serve grilled seafood, sushi lunches and pan-Asian delights. Above all else, the Maldives offers some of the best diving in the world. The well-kept underwater gardens are a mecca for marine life. Divers can catch a glimpse of the turtles and gigantic manta rays—or, better yet, whale sharks— that float through the neighbourhood.
Maldives When to go: December to April Flight time: London direct to Malé, 10.5 hours Best for: Tropical diving There’s a reason that the Maldives has become synonymous with honeymooners. Even before you touch down, the seaplane
view over the archipelago’s coral atolls is simply breathtaking. Pristine beaches and crystalline waters make every cove and lookout spot worthy of a postcard. Falling into the paradisiac formula, palm trees line the shorefront and sway in the gentle breeze. What the Maldives has in abundance
Don’t miss: National Museum Maldives’ National Museum is located in the capital, Malé. While the building may not be the most elegant, the intrinsic items inside are fascinating. Despite having some of their most precious items stolen in 2012, a number of exhibits remain for visitors to immerse themselves in. Examples of weaponry, religious paraphernalia and quirky relics help trace the surprising history of the Maldives.
freshly cleaned windowpane. This makes for great diving conditions—one of the area’s main magnetisms. Large boulders and pearlescent sands help to form its unbeatable beaches. A few select coves exhibit naturally pink sand, which closely resembles the colour of rosé Champagne. This has become a trademark of the region. There are also several protected nature reserves in the Seychelles that house rare plants and animals. Some lucky visitors may witness sea turtles hatching on Bird Island—a once-in-a-lifetime experience. The Seychelles is home to some of the world’s most upmarket hotels and resorts that have a huge emphasis on comfort and indulgence. Boutique services provide guests with anything and everything.
IMAGES © shutterstock
Seychelles When to go: February to October Flight time: London direct to Seychelles, approximately 10 hours Best for: Idyllic beaches
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Nestled just off the east coast of Africa, the Seychelles remains unspoilt and utterly gorgeous. The group of islands is supplied with miles of tropical rainforest. Peering through the topaz waters of the Seychelles is comparable to looking through a
Don’t miss: Festival Kreol The Festival Kreol takes place in the last week of October in 2018; it involves a huge celebration amongst the local communities in Mahé. The event has Creole and Seychellois identity at its roots. Island culture will be brought to life through dance, arts, crafts, fashion, music and food. Creole artists from around the world flock to the festival to exhibit their work and promote their indigenous talents.
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Réunion When to go: May to July and September to October Flight time: London to Saint-Denis (one stop), 16 hours Best for: Natural wonders The French island of Réunion is the ultimate destination for individuals that crave the thrill of the outdoors. One of its most iconic landmarks is an active volcano, Piton de la Fournaise, which stands at an impressive 2,632 metres. Budding explorers can traverse its domineering slopes to reach the summit and marvel at the phenomenal view. Waterfalls are dotted throughout the island, posing an attractive vista for tourists. The coasts are sprinkled with white and black sand beaches—ideal for getting in some well-deserved relaxation time. Popular heart-thumping activities in Réunion include paragliding, canyoning, mountain biking, horse riding and rafting. Gourmands will rejoice at the sight of the fare on offer. Réunion’s cuisine is a healthy balance of Creole, Indian, Chinese and French flavours. Seafood is a fixed part of the local diet; you couldn’t want for fresher produce. Frenchinspired bakeries line the streets of the larger towns, selling delicate cakes and pastries.
Madagascar When to go: September to October Flight time: London to Antananarivo (one stop), 14 hours Best for: Offbeat adventures Primordial forests of baobabs— distinctively shaped native trees— sweeping deserts and sleepy volcanoes define Madagascar’s iconic landscape. In very few places would you find such an intense amalgamation of panoramas in such close proximity. Much of the flora and fauna of Madagascar are endemic to the island, adding to its allure for nature lovers. Its tropical climate nurtures six rainforests and the surrounding coral reef remains the fifth largest on Earth. The island’s signature inhabitant is the furry-faced lemur, which can be spotted swinging between branches of the canopies above. In spite of its majesty, Madagascar does have one shortcoming: poor transport links.
Makeshift bridges and dismal roads mean that reaching your desired destination can often be an adventure within itself. Luckily, there are ample amounts of hiking, diving, fishing and whale watching options available to make travelling worthwhile. For those wishing to return to civilisation, Madagascar’s capital Antananarivo offers great shopping and eating opportunities.
Don’t miss: Fèt Kaf In Réunion, Fèt Kaf is a public holiday that takes place on 20 December. It commemorates the abolition of slavery, which occurred on this day in 1848. Various festivities take place across the island to mark the occasion. Street events, float parades, song and dance concerts, history and poetry workshops and other such frivolities celebrate freedom and local identity.
Don’t miss: Zafimaniry woodcarvings The Zafimaniry—an ethnic group of people from the highlands in Madagascar— has retained a tradition of woodcarving through generations of their clan. Their intricate, geometric designs are deeply meaningful and are included in UNESCO’s Intangible Cultural Heritage List, making them a must-see for visitors. Arrange a trip to one of the Zafimaniry communities to experience the beauty of their homes, furnishings and ornaments first-hand.
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Mauritius
IMAGES © shutterstock
When to go: May to December Flight time: London direct to Mauritius, approximately 12 hours Best for: Cultural gems Mauritius strikes an irresistible chord with families, couples and lone travellers alike. This dreamy setting is supplied with soulsoothing sun all year round, although humid climates make December and January more prone to cyclones. In some areas, the land rises steeply, revealing dramatic crags that appeal greatly to hikers. Otherwise, tourists can spend their days playing golf on one of the many championshipstandard courses or relaxing at a luxury outdoor spa. Just off the bustling tourist hub of Flic-en-Flac lays a world of underwater diving treasures. The shallow waters and stunning topography of the coral reef create the perfect environment for spotting sea creatures. Wondrous sugar cane and spice plantations are dotted throughout Mauritius—drop by for a visit and take home a souvenir. What really sets Mauritius apart from other islands is the warmth of the locals and the vibrancy of their traditions. A much-loved Mauritian custom is the table d’hôte. This openly
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hosted meal is filled with delicacies of the region like honeyed lamb with cinnamon and dholl puri—a fried stuffed bread. Don’t miss: Natural History Museum The Natural History Museum in Mahébourg is a colonial mansion, a building which played an important part in the island’s
past. In 1810, after the Battle of Grand Port, British and French naval officers were taken here for treatment. The museum recounts the events of the battle through salvaged items including cannons, weaponry, garments and supplies. There is also a bell, a cache of Spanish coins and a replica of Napoleon’s boat on display.
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Earth’s Pinnacle – the North Pole… …remains one of the most elusive and illustrious destinations on the planet MARVELS ON THE WAY After boarding in Murmansk, Russia, 50 Years of Victory navigates north through the Barents Sea, where walruses, bowhead whales, and polar bears are increasingly prevalent. With 24-hour daylight, shimmering ice is a constant occupant of the vast horizon and is sometimes accompanied by fogbows, the stunning silver cousin of the rainbow.
It`s all in your hands
THE NORTH POLE – NOW ATTAINABLE The geographic North Pole, 90° North, sits atop the Arctic Ocean and is covered with a spider web of pressure ridges and drift ice as much as 10-feet thick in some spots. The destination is remote and the journey is demanding, but, for a few hundred intrepid and fortunate adventurers, the top of the world is attainable each summer with Poseidon Expeditions. Jan Bryde, Poseidon’s expedition leader who has traveled to the North Pole 33 times, says reaching the top of the world is the highlight of his career – each and every time. “I go back because It’s the most remote, starkly beautiful place on our planet,” Bryde said. “I love seeing the magical ’90.00.000° ’ suddenly register on the bridge’s GPS, and sharing this unique polar environment with our guests.”
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A destination as extreme as the North Pole calls for transportation to match: A nuclear-powered icebreaker by the name of 50 Years of Victory. Powered by two nuclear reactors generating 75,000 horsepower, this working ship can crush a path through sea ice up to 10 feet thick. Yet, it is one that is also surprisingly comfortable and accommodating in such a harsh environment.
Undying daylight also offers opportunities for another rare experience – helicopter flightseeing. This elevated perspective provides astounding views of the ship and the vast polar backdrop rich with icy pinks and blues of the sky. Finally, it is time to experience the longanticipated moment of standing at the top of the world. Passengers from across the globe gather at its northern-most point, hand-in-hand, and literally “walk around the world” during an International Round Dance. The day-long celebration continues with a barbeque on the ice. More daring guests are also invited to take an invigorating and memorable polar plunge into the frosty Arctic Ocean.
Breaking ice in the Arctic Ocean
10/08/2018 09:11
ADVERTORIAL
J o u r n e y t o t h e To p o f t h e W o r l d
FRANZ JOSEF LAND The end of the North Pole festivities does not mean the end of the adventure. The way back south is highlighted by an exploration of rarely-visited Franz Josef Land Archipelago. This mysterious and remarkable region was off-limits to foreign travelers until recent decades. Nimble, inflatable Zodiac landing craft are quickly deployed here, allowing for exploration of these islands, some of which were the base camps for North Pole expeditions during the Heroic Era of Arctic exploration in the late 19th- and early
20th-centuries. Now a nature sanctuary, the archipelago is home to polar bears and other quintessential High Arctic wildlife— Arctic foxes, walruses, several rare whale species, and colonies of migratory seabirds such as guillemots, dovekies, and ivory gulls. Franz Josef Land is also home to arresting geological features, such as the stone spheres on Champ Island. Collectors of geographical extremes distinguish Cape Fligely on Rudolf Island as the northernmost point of land in the Eastern Hemisphere.
For reservations: sales@poseidonexpeditions.com
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WELCOME FOR ADVENTURE From the extraordinary journey and the unparalleled access to the Arctic wilderness to setting eyes on some of the planet’s rarest and most precious creatures, an icebreaker cruise to the North Pole is full of exceptional, enduring moments. Come aboard, for a once-in-alifetime adventure that few others will ever have the opportunity to experience!
Please call + 44 203 936 8218 or visit poseidonexpeditions.com
10/08/2018 09:11
collections // TRAVEL
Luxury Travel Embark on a luxury expedition of a lifetime: discover the bustling Amazonian rainforest, the fertile Galápagos Islands and the Arctic’s immense polar caps
F
or much of history, humans have voyaged to new and wondrous lands. This instinctual urge to experience new things is the driving force for flourishing tourism in the farthest regions of the globe. Now, an influx of luxury operators are promising personalised experiences for upmarket travellers. Tourists can immerse themselves in the world’s most awe-inspiring sights whilst enjoying premium service and facilities.
The North Pole: towering icecaps The Arctic Circle—popularly known as the North Pole—encompasses Greenland, Baffin Island and the northernmost parts of Europe, Russia, Alaska and Canada. Not long ago, it seemed unimaginable that the seventh continent might become a popular tourist destination. Today, scores
Expeditions
of wealthy travellers are choosing this polar voyage as their latest jaunt. This is where nature’s most miraculous spectacles take shape: from the famous ‘midnight sun’ to the jaw-dropping glacier calving. This far-off province is bursting with fascinating wildlife of the sea, land and sky. Six species of seal, four types of whale and hundreds of birds and fish inhabit the area. Those who wish to experience the North Pole in style can do so on one of the luxury icebreaker ships that sail through the Arctic; guests on board are provided with every creature comfort. Cruises to Spitsbergen—only 600 miles from the North Pole—are synonymous with seeing polar bears and walruses. Most operators facilitate daily outdoor activities such as sea kayaking and standup paddleboarding. The most indulgent
passengers can splurge on a chance to photograph the phenomenal views from a tethered hot air balloon. Other popular pastimes for tourists include fishing, glacier trekking, fat biking and polar snorkelling with seals. Depending on the season, some lucky tourists may spot the ethereal flickering of the aurora borealis (the northern lights).
The Galápagos Islands: wondrous wildlife Located 1,000 kilometres off the west coast of Ecuador, the Galápagos Islands are a unique site upon which to base a fun-filled trip. These UNESCO Heritage-listed islands are a melting pot of wildlife—especially marine life. The archipelago is positioned at the point where three ocean currents meet— known as the Humboldt Current—attracting
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a plethora of oceanic species such as sea lions, penguins, golden rays and whale sharks. Unsurprisingly, diving is exceedingly popular, with many considering it to be the best underwater experience of their careers. Tour groups run frequently through the Galápagos Islands with average trips lasting around 10 days. Operators can differ dramatically in terms of the amenities and standard of board that they offer. Luxury packages based on cruisers, catamarans and expedition ships are suitable for upmarket clients. These impeccably kept vessels tend to include en-suite cabins and private balconies. The service provided on board is set to the highest standard where fine dining and expert tour guides are assured. Land-based trips are also available for guests that wish to stay in a lavish hotel on one of the inhabited islands. Visitors from all over the globe travel to this protected eco-paradise to follow Charles Darwin’s footsteps and view the endemic wildlife such as the marine iguana, blue-footed booby and the Galápagos tortoise. Tourists can also hike dormant volcanoes, discover hidden coves and connect with indigenous flora and fauna.
The Amazon: dense jungle The diverse ecology of the Amazon basin can provide solace for the soul and extraordinary adventure for enthusiastic explorers. Boat
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cruises and foot tours allow visitors a closer look at the complex bionetwork that thrives in the region. The impressive waterway covers approximately 40 percent of South America and flows through Bolivia, Brazil, Colombia, Ecuador, Peru and Venezuela. The landscape embraces both jungle and wetland, which invites an immeasurable collection of plants, birds, mammals and amphibians to take shelter there. Tourist packages cater to suit a spectrum of budgets from frill-free tours to deluxe allinclusive cruises. Those in search of a more pampered experience can find premium suites on board high-class vessels—most of which are akin to floating five-star hotels. These are accentuated by outstanding staff and crew members. Specialist guides are also on hand to share their local knowledge and provide a personalised service. For tourists that prefer dry land, luxury jungle lodges pose the perfect alternative. What the Amazon has in abundance is novelty experiences. Guests can take part in a piranha fishing excursion or a canopy walkway expedition, which provides an unrivalled perspective of the jungle wilderness. More than a third of the world’s species of animals make their home in the Amazon rainforest, making it a mecca for nature enthusiasts. Jaguars, sloths, toucans, anacondas and capybaras are just some of the creatures that tourists may catch sight of during their trip.
For the extreme explorer… From 2019, deep-pocketed tourists can embark on a once-in-a-lifetime tour of the Titanic wreck. Submersible companies will transport keen explorers to the depths of the ocean from $100,000 per person
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collections // diamonds
Fancy assets By Annalisa D’Alessio
IMAGES © sotheby’s
Diamonds have been revered for their beauty for millennia. Nowadays, the coloured variety offers a strong return on investment—even in the current global market
Above: The Sky Blue Diamond ring—with a Fancy Vivid Blue diamond weighing 8.01 carats—sold for over $17 million at Sotheby’s Geneva in November 2017.
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diamonds // Collections
Determining value The value of diamonds is measured by the four ‘c’ elements—carat, clarity, cut and colour. While in colourless diamonds, all the ‘c’s carry equal weight, the colour of an FCD accounts for over 50 percent of its overall value, according to the Diamond Investment & Intelligence Center (DIIC). The Gemological Institute of America (GIA) uses terms such as Fancy Light, Fancy, Fancy Dark, Fancy Intense, Fancy Deep and Fancy Vivid to grade a coloured diamond’s hue intensity. Fancy Vivid is the most desirable grading, however; the value of an FCD increases as much as 25 percent with each saturation level. Due to predictions that in the next decade there will be no more pink diamonds to mine from the Argyle Mine—the biggest producer of rare pink diamonds in the world—this hue is extremely sought-after in the current market. There are also no new rare diamond mines in sight, experts stipulate. This may mean that in the next 10 years, the FCD market will only consist of diamonds that are already ‘at hand’. Size and shape are both traits that can influence an FCD’s colour—and therefore determine its value. Larger diamonds allow light to travel further into them, often leading to more intense hues. According to the GIA, the style of the cut is also crucial. Mixed cuts like the radiant can intensify certain diamond colours.
Why invest? It is estimated that out of every 10,000 diamonds that are mined, only one carat
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“
Experts predict that unless new mines are discovered, diamond production is projected to diminish over the next 30 years, making diamonds a rarer commodity than ever —Diamond Investment & Intelligence Center
“
D
ebatably less complex than the cryptocurrency market and, decidedly, more beautiful than stocks, fancy coloured diamonds (FCDs) are increasingly turning the heads of wealthy investors. Thanks to a surge in demand for FCDs over the last decade— and their reputation for being a safe long-term investment—it’s no wonder connoisseurs are adding them to their financial portfolios. What makes these tangible assets so appealing? They have the ability to appreciate in value whilst simply being admired.
can be labelled ‘Fancy’, making FCDs an extremely alluring investment—the effort of finding high quality examples is labourintensive and time-consuming. According to the DIIC, the price of FCDs hasn’t substantially dropped in almost 40 years. This is in part due to their never-ending demand; major diamond companies and collectors are always on the lookout for the next steal. Much like fine art, FCDs are tangible and multifunctional assets that investors can physically see, possess and enjoy. As they are made of the strongest material on earth, they’re hard to substantially damage and almost impossible to destroy—making their durability a further appeal. FCDs do not adversely affect other investment assets, have lower volatility, are not subject to the same market forces as other investments and give dramatically higher returns.
How to invest Different individuals will have contrasting opinions on the best approach to FCD investment depending on their budget and the reason behind the investment itself. A method familiar to many connoisseurs is investing in shares of diamond mining companies—the main ones being DeBeers,
Dominion Diamonds and Rio Tinto. While this method is beneficial as the companies are obliged to maximise ROI for their investors, it may take them additional time in paying out their shareholders. Single stone investment, on the other hand, focuses on one single diamond. It is thought to be the safest choice, especially for beginners on the scene. A significant drawback, however, is this method of investment requires a substantial sum of money to begin with. Investors with more funds available may also opt for multiple stone investment—like estate jewellery— and gather a collection of stones. Lastly, rare diamond investment funds are a viable method of investment into FCDs. These work by giving cautious investors the chance to have their fund managed by professionals with a special interest in FCDs. Whatever investment method is chosen, carrying out substantial research and provenance checks is necessary, as is talking through plans with a diamond investment strategist.
Stellar results at auction Rare FCDs in red, green, blue and pink colours have historically always done well, both at auction and on the general market. In May 2017, a Sotheby’s auction in Geneva, Switzerland, saw a pair of diamond earrings—which are almost 16 carats each—sell for $57.4 million. In addition to being different colours—one is Fancy Vivid Blue and the other is Fancy Intense Pink—the diamonds also differed in price. The blue diamond, renamed The Memory of Autumn Leaves and the rarest of the two, sold for $42.1 million alone. The pink Dream of Autumn Leaves sold for around $15.3 million. In April 2017, a Sotheby’s auction of fine jewels in Hong Kong sold the Pink Star—a 59.60-carat oval mixed-cut diamond—for around $71.2 U.S. million. The Cartier Sky Blue Diamond ring— an extremely elegant square emerald-cut Fancy Vivid Blue diamond weighing 8.01 carats—sold for over $17 million (around $2.1 million per single carat) at Sotheby’s Geneva in November 2017.
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collections // ANTIQUES
A Victorian Resurgence By Kayley Loveridge
Unlike many alternative assets including fine wine and art, antique sales—in particular, Victorian antiques—have a precarious history at auction
There is no one particular style or characterisation that can be applied to Victorian-era items that may be as obvious in, say, the Baroque period of the late 1600s to the early 1700s. Instead, furniture, jewellery and personal accessories were a varied mix of styles resurrected from classic periods before it. One of the most prominent style movements in terms of architecture, furniture, clothing and accessories of the 19th century was the Gothic Revival, or ‘Victorian Gothic’. In high favour from the 1740s, the Gothic style remained popular deep into Queen Victoria’s reign, thanks in no small part to the rebuild of the Houses of Parliament (Palace of Westminster)—a key example of British architecture that stands proud in the heart of Westminster today. The Houses of Parliament were redesigned by architect Charles Barry following a great fire that almost entirely obliterated the building in 1834. It was decided that the houses should exhibit the Gothic style of the 15th and 16th centuries because it better reflected English conservative values, prompting the movement’s reinvigoration in the mid-1800s right through to the turn of the century. Other styles that encapsulate this fascinating time included the romantic nuances of the Neoclassicism movement (which refers to designs based on Classical Greece and Rome) and the lavish, decorative Rococo (or ‘Late Baroque’) movement, whose features exhibit heavily
in furniture, silver and ceramics throughout the 19th century. So, why was there a significant drop in interest in these valuable heritage pieces and, perhaps more importantly, is the antique market beginning to see a resurgence, gaining popularity once more? According to the Knight Frank Luxury Index 2017, investment in antique furniture alone dropped by a staggering -32 percent over the past decade, which is interesting considering other alternative assets such as cars and wine rose exponentially over the same period at 362 percent and 231 percent respectively. But with a drop at just -3 percent over the 12-month period spanning 2016/17 (significantly lower than year-on-year figures for the decade prior), could it be that interest in this unique market is beginning to recover, piquing the interest of new, younger collectors?
A slump in sales Like with many collectable items, the sales market is dependent on various external factors including trends and popularity at any one time. Victorian antiques, and in particular, ‘brown furniture’ (Victorian furniture pieces tended to be built using walnut, mahogany and oak), has been subject to oscillation at auction, simply because their aesthetic appeal falls in and out of favour with consumers all the time. In the 50s and 80s, ‘period rooms’ were
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he Victorian age, which constitutes the period in which Queen Victoria reigned England from 1837-1901, was a particularly special time in Britain’s rich history. Much of the social, political and economic policies that exist today can be attributed to the Victorians, who implemented major reforms to better improve education, industry, countrywide infrastructure and technology under the Queen’s reign. This shift in society resulted in more financial opportunities for the working classes, meaning that household income could be spent on lavish furniture and accessories. Because of better medicine and sanitation during this time, the mortality rate was also at an all-time high and the population grew exponentially, almost doubling in numbers. To facilitate this growth, demand for fine furniture and accessories increased and prompted mass manufacturing of high quality, stylish goods. It’s unsurprising, then, that there is an eclectic range of Victorian antiques available on the market today at relatively affordable prices. Unless a Victorian antique (defined as an object more than 100 years old) piece comes from a particularly revered craftsman, they can be bought for as little as £200, sometimes less. With this said, however, from the 20th century to present day, the popularity of such items has deeply fluctuated as styles and tastes have evolved with time, making investment in this area particularly tricky to navigate.
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ANTIQUES // Collections
popular features in many homes, and so, in response, Victorian antiques were very popular among ordinary households. In the last two to three decades, however, auction houses noticed a slump in Victorian antique sales and experts surmise that this may be because of factors like current housing and living spaces. Victorian furniture was vastly popular with those who had large home spaces to exhibit them, but as smaller homes were built and interiors trends changed to more sleek, minimalist styles, brown furniture became less desirable. But, in very recent years, sales at auction have increased and popularity in this area seems to—tentatively—be growing. An innate human desire to reconnect with our heritage has long been a key driver in auction sales of Victorian products; they have a somewhat nostalgic quality to them that affectionately displays how our ancestors once lived. Consumers also respond to commercial cultural depictions seen on television and in films. An interesting perspective then, is that the resurrection of sales in this area may also be thanks to the increase in period dramas on television, such as Netflix’s highly popular period dramas The Crown (2016-present) and Victoria (2016-present). Victorian jewellery, says festivalofantiques.co.uk, is projected to make a booming resurgence in the antique market alone. Besides this, furniture manufactured during this time period was largely hand-made with high quality, resilient materials. This aspect may lend itself, in part, as a reason as to why buyers prefer
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such antiques over the mass-produced furniture that followed in the decades after Queen Victoria’s reign. While we are not yet seeing Victorian antiquities going under the hammer for great or unprecedented sums at auction, it is safe to say that this market is slowly gaining traction.
For collectors Interestingly, experts suggest that buyers explore the niche category of Victorian Christmas cards when looking to invest in Victorian antiques for valuable return. These perennial festive mainstays were actually first invented during this time by Sir Henry Cole, starting a long-lasting tradition. A Christmas card sent in 1843—one of the world’s first Christmas cards ever made—sold for a high £4,200 in 2013 at auctioneers Henry Aldridge & Son. This particular card was a rare (just one of 15 cards still in existence from the batch of 2,000 cards originally printed that same year) black and white depiction of a joyous Victorian family sat together at a table in celebration of the season. Elsewhere, Victorian furniture crafted by respected names of the era is highly sought after at auction. For example, a midVictorian walnut and parcel-guilt specimen marble centre table (c.1860) sold for £4,000 at a Christie’s auction, Interiors including Faringdon House, Oxfordshire, in April 2018. Back in 2015, a late-Victorian glazed stoneware ornament, A Monk Jar and Cover (1896), produced by prominent sculptor company Martin Brothers, fetched £60,000 at a Christie’s sale.
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COLLECTIONS // WHERE TO SPEND IT
Where to
SPEND IT
From limited-edition Louis Vuitton to cutting-edge watchmaking technology, we bring you the latest luxury collectables and high-end fashion items BY SAM STEVENSON
VAMPED-UP V8
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To celebrate 70 years since launching its first model at the Amsterdam Motor Show, Land Rover has resurrected the iconic Land Rover Defender. The reworked British manufacturing stalwart is a collector’s edition—only 150 are on sale—making it extremely desirable. The fastest and most powerful model to date, the 4x4 is powered by an impressive 5.0-litre petrol V8 engine and can accelerate from 0 to 60mph in just 5.6 seconds. Expertly engineered, it also features superior interior comfort and updated technology, both of which far transcend those of its precursors. landrover.co.uk
Unveiled at Baselworld 2018, Patek Philippe’s latest model of its much talked-about World Time Minute Repeater is—like its limitededition predecessors—a stunning feat of watchmaking. An amazing complication, the watch melodiously chimes the time for any location in the world. Its movement is a self-winding calibre R 27 HU, which made its debut in the New York editions. With a power reserve of 48 hours and a scintillating Spiromax balance spring—visible behind a clear sapphire caseback— this timepiece is simply unforgettable. patek.com
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WATCHMAKING BELLWETHER
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TAILORING MEETS UPHOLSTERY
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The perfect blend of the modern and the traditional, this Stuart Scott special edition tux chair seamlessly blends enduring design with sartorial finesse. A contemporary take on the classic chesterfield—accented with brass legs and perfect lines—it is hand-built to order in an artisanal workshop in Wiltshire, England. This bespoke approach ensures complete attention to detail, structural integrity and sheer build quality. The designer recommends Moon’s Melton navy wool to upholster the hand-signed and individually numbered chair. stuartscott.co.uk
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WHERE TO SPEND IT // COLLECTIONS
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RING OF A HUNDRED EYES Following its recent success in the luxury jewellery market, Boucheron returns with a new luxury ring—Héra. A symbol of immortality, peace and prosperity, the peacock is the ‘bird of a hundred eyes’. According to Greek mythology, the iridescent ‘eyes’ on a peacock’s tail were placed there by the Greek goddess Héra, hence this collection’s name. Available in sapphires and diamonds, these artistic creations have once again captured the imagination of luxury jewellery collectors the world over. boucheron.com
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PUT YOUR FOOT DOWN Constructed of fine Italian burnished leather and polished brass hardware, these Austin double monk strap shoes from Tom Ford are true statement footwear. Complete with doublebuckle straps across the vamp and brogue-style details on the toecap, they are an elegant way to make an entrance. tomford.com
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SUBTLE STATEMENT Founded in 1971, Mulberry is the epitome of understated chic. The brand maintains a proud legacy in excellent craftsmanship and timeless designs. Refined and sophisticated, this smaller travel bag—inspired by the ‘spirit of heritage’ and the ‘attitude of rebellion’—is released in supplegrained leather with brass hardware for a traditional look and feel. mulberry.com
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It was on the Rue des Capucines in Paris that the first Louis Vuitton store opened its doors. As timeless as the House itself, the Capucines bag brings elegant chic to any look. This stunning limited-edition Capucines BB is a unique and rare piece. It combines full-grain Taurillon leather with precious python to create a luxurious handbag accented with heritage aspects: the LV initials, the distinctive side rings and the subtle monogram flower on the closing flap. Its rich, red hue adds a pop of colour to any neutral-toned outfit. louisvuitton.com
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SAY IT WITH LOVE Opulent and sophisticated, this charming pair of Cartier décor pens—for him and her—is part of a limitededition collection of 10 individually crafted pens. These prestige fountain pens, exclusive and rare, are superlative writing instruments with undeniable appeal. Delectable keepsakes for two devoted lovebirds, they are created in the finest materials: white and yellow gold set with precious stones. For him: 18-carat solid white gold paved with 338 diamonds, two emerald eyes and black lacquered feathers in graded red to yellow. For her: 18-carat solid yellow gold paved with 84 diamonds, two sapphire eyes, lacquered feathers in graded red to yellow and a partially rhodium-finish 18-carat solid gold nib. cartier.co.uk
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Arts & Collections is now on Instagram Follow @artsandcollections for the latest news and updates on investment trends, luxury collectables and fine art
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WHERE TO SPEND IT // COLLECTIONS
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TIMELESS CREATION
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STATE-OF-THE-ART OUTDOOR KITCHEN
Created for the greatest connoisseurs of cognac, Richard Hennessy brings together the past and the present in a delightful encounter. Each hand-blown carafe of this exceptional blend of eaux-de-vie is individually numbered, making an inimitable keepsake. A unique cognac, it entails 250 years of history, knowledge and savoir-faire. Its alluring amber colour, deep and warm, foreshadows its lasting potency, while its heady aroma evades explanation. To be understood, Richard Hennessy must be sampled first-hand. hennessy.com
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SURREAL TIMEPIECE Created in 1967, in the heart of ‘Swinging London’, the Crash watch encapsulates the spirit of an era. Its revolutionary, asymmetrical dial evokes the surrealist art of Salvador Dalí and reinvents the aesthetic canons of watchmaking history. Always released in a very limited series, this legendary piece carries the much-coveted prestige of rarity. The opulent case is set with 149 brilliant-cut diamonds and beaded crown set with a brilliantcut diamond, totalling 2.15 carats. The 18-carat pink gold bracelet exudes elegance and class; it glistens with 321 brilliant-cut diamonds, totalling 2.12 carats. cartier.co.uk
Exclusively hand-made in England to the highest standards by a dedicated team of artisan craftsmen, designers and engineers; Aemyrie wood-fired ovens are the ultimate in bespoke luxury revolutionising alfresco dining. Flawlessly marrying performance and functionality with outstanding flavour—be it the most tender of filet mignons or a whole shoulder joint slowly smoked for 24 hours or more—an Aemyrie grill delivers the unique taste of wood fire with precision, versatility and elegance. aemyrie.com
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RED CARPET LUXURY Chopard’s enduring affinity with the Cannes Film Festival has been incessantly reinvented for the past 20 years. What better place, then, for the luxury jewellery frontrunner to release its newest, limited-edition clutch? Released in Cannes as part of an exclusive Red Carpet collection of just 71 pieces, this Happy clutch is delicately crafted with the finest black lambskin. Inside its rose gold-finished clasp, five resplendent diamond and rose gold cabochons tumble in an endless embrace, holding the eye with their scintillating sparkle. chopard.com
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collections // Property
Clean design, quality materials and generous amenities are just some of the elements that can provide value and significance to your luxury property
IMAGES: © shutterstock
Valuable Interiors
By Phoebe Ollerearnshaw
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Property // Collections
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he luxury housing market is governed by its own rules where lavish properties attract a specific clientele with very particular tastes. With this crowd, no expense is spared in the quest to achieve the perfect home. The amenities and interior features that bring the most value to affluent homeowners tend to address their needs and facilitate their lifestyle. Arts & Collections uncovers the elements that bring significance and worth to upmarket properties.
Quality materials Quality and craftsmanship should reverberate through every fibre of a luxury home: from exterior motifs through to interior design. Skimping on materials will seriously damage a property’s appeal and may pose a huge turnoff to future buyers. Pay particular attention to the kitchen surfaces. These can be bolstered with cool marble, striking granite or aged wood. Consider the household features elsewhere including staircases, bookshelves, decorative windows and doorways—all should be crafted using high quality materials. Think limestone for aged properties and metal in contemporary settings. Opt for eco-friendly materials where possible.
Emphasis on space Your interior scheme should emphasise and maximise the space in your home, which is essential even if you have ample amounts. Many successful property layouts use materials like glass to open up the living space and make it feel more capacious. Renovators may wish to consider implementing a glass wall; a thoughtful touch for properties that are blessed with a stunning view. Such tactics work to bring a sense of the outdoors in by beckoning a flow of natural light into the home. Open plan structures are another way to make interiors feel even more expansive. By dissolving the boundaries between rooms, the space becomes more accessible and inviting.
Classic design Designing your home around a whimsical trend may seem like a good idea, but, like fashion, interior styles tend to fall in and out of
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favour. Garish or outdated interiors can work against you when it comes to pricing your property; they may even alienate potential buyers. Opt for classic, chic and simplistic designs that will never go out of style. Overall, stick to clean lines and minimal fuss. Select a neutral colour palette that is both soothing and inviting. Subtle surroundings mean that you can be bolder in your furnishing choices: patterned rugs, curtains and cushions all add dynamic textures and drama.
Highlight character What gives your property its edge? Is it a breathtaking view? Perhaps its architectural structure is based on a futuristic design? Is it a grade-listed building with original features? Whatever unique qualities your property has to offer, accentuate them. While it is technically easier to sell a property that isn’t too heavily personalised, championing your home’s character is a must. Marty Bautista from Coldwell Banker Residential Brokerage, USA, believes that ‘the most valuable amenity of any luxury residence is the story the house tells. It should be one that leads the prospective purchaser towards the feelings of home in their terms and standards.’
Seamless technology Most affluent residents desire the latest home gadgets, from high definition televisions to
automated voice assistants. Technology is an integral part of modern-day living. It is unsurprising, then, that there is value in seamless technology integration within highend property designs. The scheme for a west London home by interior designer Rabih Hage—published in The Telegraph—has proved that technology and design can work together harmoniously. The integrated home used invisible speakers hidden behind the plasterwork to feed music into every room. This successful project saw discreet technology mix with Hage’s vision of heritage oak floors, intricately painted walls and contemporary art. Adopt this attitude by using smart storage solutions to hide screens, disguise wires and maintain the balance of your home.
Generous amenities Luxury homebuyers appreciate that they are buying into a lifestyle that their home will provide. According to Nancy Reither from Coldwell Banker Residential Brokerage, USA, ‘Many of today’s buyers in the luxury market are looking for world-class amenities such as a state-of-the-art fitness centre, swimming pool, tennis court, hiking and biking trails and access to the water for boating.’ These extra flourishes will add tremendous value to your property. Think carefully about your target market—remember that no service is too extravagant in this arena.
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COLLECTIONS // PROPERTY
LUXURY
OUTDOOR LIVING BY PHOEBE OLLEREARNSHAW
Designing the exterior of your home requires the same care and precision as the interior; take into consideration the ambience, style and functionality of the space
SOCIABILITY An outdoor area can fulfill a number of purposes, but first and foremost, it is a stage upon which to entertain. It should therefore support sociability, whether that be for a large crowd or a modest audience. If your main emphasis is on comfort, form a relaxing zone with comfortable sofas, large cushions and stylish poufs. For an aesthetic that is a little more adventurous, opt for Moroccan-inspired, low-level seating surrounding a dark mahogany table. This can be accentuated with Middle Eastern lamps and a day bed. Perhaps simplicity is more your style? In which case, unassuming patio chairs and a chic coffee table should satisfy. To create a more intimate atmosphere, install a love seat set within tropical foliage—the perfect hideaway.
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ATMOSPHERE A garden is essentially an extension of your indoor scheme. With this in mind, ensure the tone and aesthetics flow seamlessly from indoors to outdoors. Use glass as a way of merging the two settings; both skylights and glass doors are effective transitional tools. Harness lighting advantageously to help the area feel more inviting. Install floodlights or inbuilt floor lamps to provide subtle illumination and avoid overbearing or harsh lighting. Fire pits and other natural light sources are proving to be a particularly popular trend in garden designs this year. Centrally position a fire pit and surround it with relaxed seating. The soothing firelight will envelop guests with warmth and keep them socialising for hours.
FOLIAGE No outdoor space is complete without greenery. Consider the climate of your area and choose plants accordingly. Less confident gardeners are suited to foliage that is easily maintained. Ivy looks extremely striking, especially when woven up a trellis or adorned on a wall or fence. Plus, such climbers require very little care. Similarly, bamboo can enhance the general feeling of
serenity in a garden and only needs to be watered occasionally. Flowers add life and a pop of colour to an outdoor arrangement. Petunias and pansies will immediately enrich a traditional English motif, whilst jasmine and cherry blossom work wonderfully in an Asian-themed arrangement. Woodland shrubs like ferns, anemones and tufted grasses can bring a feeling of wilderness to the home environment. Potted plants can be used to add to drama to a gardenscape; incorporate a muddle of sizes, shapes and patterns for a unique touch.
STYLE TRENDS This year has brought with it a wealth of creativity to garden designs; get up-todate with the latest outdoor style trends. Uber modern Geometric designs and simplistic shapes have been enriching interior design for years. Now, this trend is creeping into outdoor styles. Patio seating and sun loungers are taking a turn towards the futuristic. Japanese attitude A new attitude to gardening is emerging this year. It takes inspiration from the Japanese
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wning a property with a large outdoor space opens up a world of opportunities in terms of design. This is the perfect place to relax, entertain friends and enjoy pleasant weather. Ensure that your outdoor area reaches its fullest potential with our guide on luxury outdoor living.
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PROPERTY // COLLECTIONS
phrase ‘wabi-sabi’, which means the acceptance of transience and imperfection. For gardeners, this involves a more handsoff approach that allows the natural cycle of growth and decay to take place. You may be seeing a lot more moss-covered rock gardens, weathered pots, rusted gates and overgrown perennials this year. Purple hues Pantone, the famous colour trendsetter, has crowned ‘Ultra Violet 18-3838’ as 2018’s shade of the year. Unsurprisingly, the design world has gone into frenzy in an attempt to incorporate this hue wherever possible. Now, the shade has infiltrated the outdoors in the form of flowers, pots and furniture upholstery. A surprisingly versatile colour, this shade of purple will complement—almost—any setting. Grow your own With the appreciation of organic produce growing in unison with the concept of self-sufficiency, many people are now choosing to grow their own. Patches and greenhouses dedicated to legumes, fruits, vegetables and herbs are a key feature in luxury garden schemes.
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Opulent alfresco dining with Aemyrie One of the greatest advantages of a spacious garden or patio is the opportunity to dine outdoors—grilling stations, outdoor kitchens and wood-fired ovens are standout additions to any luxury exterior arrangement. The Aemyrie—a hand-made, state-of-the-art, woodfired cooking system made exclusively in England—adds elegance to any outdoor setting, be it a superyacht, Mediterranean beach villa or downtown penthouse. Individually personalised to each client’s requirements, every bespoke creation is unique and designed to fit seamlessly into any home or environment. With the ability to produce remarkable food for 30 or more guests, an Aemyrie grill puts flavour at the heart of cooking: in addition to achieving perfectly roast, grilled, seared or smoked food, chefs can also add oak, cherry, apple, hickory and other flavoured woods to create gastronomically flawless dishes. The opulent wood-fired grill also boasts an innovative intelligent temperature control system which automatically adjusts its settings to ensure culinary perfection time and time again. For more information, visit aemyrie.com.
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REDEFINING LUXURY IN OUTDOOR LIVING Combining all the power, control and finesse required to deliver the most exceptional dining experience, the award-winning Aemyrie is personalised to the individual requirements of each client and is handmade in England to the most exacting of quality standards. Blending state-of-the-art technology with an evocative, retro-feel exterior, Aemyrie reaches new heights of sophistication, representing a timeless, instantly recognisable, and aesthetically beautiful form. The iconic outer side panels share an affinity with the classic 1920s boat-tail cars, along with nautical legends made famous on the Italian Riviera during the 1950s & 60s. Designed to bring the finest cooking experiences to those who appreciate beauty and bespoke craftsmanship as much as they do gastronomic perfection, every Aemyrie is exclusively wood-fuelled to provide occasions of unparalleled flavour indulgence.
AEMYRIE—AS INDIVIDUAL AS YOU ARE
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The Art of Living GEORGETOWN, WASHINGTON DC
Discretely positioned behind a classic 19th Century facade, this stunning contemporary residence captures the finest elements of contemporary design adapted for gracious daily living. Once owned by socialite Evalyn Walsh McLean, the last private owner of the Hope Diamond, the residence was totally reimagined with a modern aesthetic by award-winning Shinberg Levinas Architects in 2006. The soaring gallery and living room are ideally positioned for gracious entertaining and open through two story sliding glass doors to an elegant terrace, dazzling pool, private courtyard, and a sculpture garden. Upstairs, the expansive private master suite captures breathtaking views of Georgetown and the Virginia skyline. Four additional en-suite bedrooms offer comfortable accommodations for family and guests. A generous two car garage and additional surface parking spaces complete one of Georgetown’s most extraordinary properties.
Mark C. Lowham +1 703 966 6949 Matthew B. McCormick +1 202 365 5883 Louis G. Cardenas +1 202 669 4083 Georgetown Brokerage 1206 30th Street NW Washington, DC | United States
Unquestionably, this remarkable residence is the pinnacle of stylish living in the Nation’s Capital.
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opulent Developments Arts & Collections taps into the world’s most exciting luxury developments, whose unique selling points include deluxe wellness services, eco-friendly schemes and groundbreaking architecture By Phoebe Ollerearnshaw
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IMAGES: © Costa Palmas
uxury residential developments are popping up in sensational locations across the globe, directly targeting high net worth individuals. But these new projects will have to bring something new to the table in order to successfully entice such a particular crowd.
Costa Palmas, Cabo San Lucas, Mexico The esteemed Four Seasons Hotels and Resorts and Irongate—a full service real
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estate development firm—have partnered up to create a deluxe development on the pristine shores of eastern Baja in Mexico. Set upon the Sea of Cortés, the Costa Palmas presents a refreshingly new perspective on luxury living. The recent project features a low-density layout that’s spread across several lavishly designed buildings. The collection of oceanfront, marine-side and golf-side residences are blessed with unmatched views of the picturesque surroundings. Organic farms, orchards and an estuary
are dotted throughout the 1,000-acre resort. Aside from its numerous pools, extensive five-star dining, full service spa and progressive fitness centre, Costa Palmas also has a Robert Trent Jones II signature 18-hole golf course for residents and lovers of golf to enjoy. Plus, inhabitants can benefit from the exclusive beach and yacht club that is attached to the facility. The extensive grounds are connected to an adjacent yachting marina that accommodates vessels of up to 250 feet long.
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Ecologically friendly Baufritz uses only timber construction to create ecological and healthy homes. Their vision is to build homes that combine an unrivalled level of comfort and luxury with an abundance of natural materials. Every Baufritz home is different as each one is individually designed through collaboration with one of their in-house architects and interior design specialists. As timber is a renewable resource, it means that by owning a Baufritz house, nature’s cycle is preserved. Baufritz does not use chemically treated building materials and makes regular tests to ensure they are not present. A family run company that has been building beautiful timber framed houses in Germany for more than a century, Baufritz has built a reputation for exceptional quality and reliability and has been building houses in the U.K. for over a decade. All houses are prefabricated at their state-of-the-art factory in Erkheim, Germany and constructed using teams of highly skilled German craftsmen. baufritz.co.uk | Office +44 1223 235 632 | enquiries@baufritz.co.uk
The Stage, London, England An iconic 37-storey architectural landmark will be constructed in London’s funky Shoreditch district; the project is destined for completion between 2020 and 2021. The mixed-use scheme will combine deluxe residential apartments with retail, commercial and performing arts spaces. The luxe building has been developed around the remains of the Curtain Theatre, which dates back to 1577. The Curtain was supposedly the original venue to host William Shakespeare’s play Romeo & Juliet (1597) and the premiere of Henry V (1599). Through painstaking preservation, the remains of the Elizabethan playhouse are being transformed into an amphitheatre and heritage pavilion. This will form the focal centrepiece of the development, highlighting London’s rich and unrivalled history. Victorian rail viaducts will form the main infrastructure of the boutique shops below and the balconies above. The development will also provide top-notch lifestyle facilities including residents’ private screening room, games lounge, bowling lanes, gym, salon, spa, treatment suite and business centre. In order to combat the lack of green spaces in the district, The Stage will be supplied with several public gardens. The 32nd floor sky lounge and alfresco terrace will provide the ultimate reprieve for residents wishing to take stock of the bustling city below.
Jardim is a two-tower building situated on West 27th Street in New York designed by Brazilian architect Isay Weinfeld. The newly constructed building credits its warm appearance to the core materials used in its inception. One of the stepped volumes of Jardim is crafted from richly coloured brick. The other is fashioned from textured concrete, which has been imprinted with wooden planks. Latticed wood screens add a tactile element to the site. Thirty-six residences inhabit the two buildings, whose bases are surrounded by lush gardens.
IMAGES: © Galliard Homes
Jardim, Chelsea, New York, USA
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MY SIGNATURE. BEAUTIFULLY CRAFTED. ALFREDO HAEBERLI, DESIGNER
VISIONARY DESIGN, SUSTAINABILITY WITHOUT COMPROMISE. The perfect synthesis of innovative design and sustainability without compromise: this visionary pair of buildings by designer Alfredo Haeberli is a brave concept for how we might live in the future. See and feel it today. www.baufritz-ac.co.uk.
Baufritz UK Ltd. enquiries@baufritz-ac.co.uk 01223 235632
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Nature is at the core of Weinfeld’s design—hence the allocated name ‘Jardim’, which translates to ‘garden’ in Portuguese. Greenery cascades down the architectural structure, providing a sense of serenity and a sanctuary for wildlife. Five two-bedroom residences offer expansive floor-to-ceiling windows and sliding glass doors that open onto shady corner terraces. The penthouses within the development incorporate incredible detail and precision, each is provided with abundant outdoor space. Deluxe facilities at Jardim include an elegantly illuminated indoor pool, 24hour lobby service, fitness studios, massage treatment rooms, steam room and sauna, children’s playroom and diverse event spaces.
Royal Atlantis Residences, Palm jumeirah, Dubai
images: © Property of The Royal Atlantis Residences
Work on the Royal Atlantis Resort and Residences started almost four years ago. Finally, it is expected to welcome guests come late 2019. The ambitious project, which caters to the super rich, almost resembles a colossal Jenga tower. Its apartment blocks appear as though they are suspended in mid-air. The impressive structure reaches heights of 193 metres, providing spectacular views of the Arabian Sea. Residents will also benefit from the sight of Dubai’s famous cityscape across the bay. The development consists of 10 hectares of land, 231 residences and 795 guest rooms and suites. A standout feature in the resort is the all-day sky pool, which residents are free to use at their leisure. In fact, the project houses over 90 swimming pools in total. The finest facilities will be provided, such as a 24hour concierge, a private beach club and a selection of spas, gyms and fine dining eateries. ‘The development will become the new landmark of Dubai and will support the “Dubai Plan 2021” in positioning it as one of the best places to live in the world,’ says Issam Galadari, director of Royal Atlantis Resort and Residences.
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Inspiring Gardens, Expertly Crafted Designed by Matt Keightley A multi-award winning Design Studio and Landscaping team with an uncompromising commitment to quality. Based in London, we work on private gardens and commercial schemes, both within the UK and internationally.
Rosebank Landscaping, 66 Sheen Road, Richmond Upon Thames, Surrey TW9 1UF | 0208 948 5544 info@rosebanklandscaping.co.uk | www.rosebanklandscaping.co.uk
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