WEBVTT - Art Investing for Beginners

0:00:01.240 --> 0:00:01.600
<v Speaker 1>Earners.

0:00:01.639 --> 0:00:02.000
<v Speaker 2>What's up.

0:00:02.080 --> 0:00:04.560
<v Speaker 3>You ever walk into a small business and everything just

0:00:04.720 --> 0:00:07.880
<v Speaker 3>works like The checkout is fast, the receipts are digital,

0:00:08.400 --> 0:00:11.399
<v Speaker 3>tipping is a breeze, and you're out the door before

0:00:11.400 --> 0:00:15.560
<v Speaker 3>the line even builds. Odds are they're using Square. We

0:00:15.720 --> 0:00:18.280
<v Speaker 3>love supporting businesses that run on Square because it just

0:00:18.280 --> 0:00:21.520
<v Speaker 3>feels seamless. Whether it's a local coffee shop, a vendor

0:00:21.560 --> 0:00:23.840
<v Speaker 3>at a pop up market, or even one of our

0:00:23.880 --> 0:00:27.560
<v Speaker 3>merch partners, Square makes it easy for them to take payments,

0:00:27.760 --> 0:00:31.480
<v Speaker 3>manage inventory, and run their business with confidence, all from

0:00:31.600 --> 0:00:35.000
<v Speaker 3>one simple system. If you're a business owner or even

0:00:35.080 --> 0:00:38.600
<v Speaker 3>just thinking about launching something soon, Square is hands down

0:00:38.640 --> 0:00:41.680
<v Speaker 3>one of the best tools out there to help you start, run,

0:00:41.920 --> 0:00:45.240
<v Speaker 3>and grow. It's not just about payments, it's about giving

0:00:45.240 --> 0:00:47.920
<v Speaker 3>you time back so you can focus on what matters

0:00:47.960 --> 0:00:51.199
<v Speaker 3>most Ready. To see how Square can transform your business,

0:00:51.479 --> 0:00:56.120
<v Speaker 3>visit Square dot com backslash go backslash eyl to learn

0:00:56.160 --> 0:01:01.400
<v Speaker 3>more that Square dot com backslash, go backslash eyl. Don't wait,

0:01:01.640 --> 0:01:04.480
<v Speaker 3>don't hesitate. Let's Square handle the back end so you

0:01:04.480 --> 0:01:10.839
<v Speaker 3>can keep pushing your vision forward. This episode is brought

0:01:10.840 --> 0:01:12.760
<v Speaker 3>to you by P and C Bank, a lot of

0:01:12.760 --> 0:01:16.360
<v Speaker 3>people think podcasts about work are boring, and sure they

0:01:16.440 --> 0:01:20.319
<v Speaker 3>definitely can be, but understanding of professional's routine shows us

0:01:20.319 --> 0:01:24.840
<v Speaker 3>how they achieve their success little by little, day after day.

0:01:24.959 --> 0:01:27.440
<v Speaker 3>It's like banking with P and C Bank. It might

0:01:27.560 --> 0:01:30.440
<v Speaker 3>seem boring to save, plan and make calculated decisions with

0:01:30.480 --> 0:01:33.520
<v Speaker 3>your bank, but keeping your money boring is what helps

0:01:33.520 --> 0:01:36.640
<v Speaker 3>you live or more happily fulfilled life. P and C

0:01:36.760 --> 0:01:41.920
<v Speaker 3>Bank Brilliantly Boring since eighteen sixty five. Brilliantly Boring since

0:01:41.959 --> 0:01:44.640
<v Speaker 3>eighteen sixty five is a service mark of the PNC

0:01:44.720 --> 0:01:48.680
<v Speaker 3>Financial Service Group, Inc. P and C Bank National Association

0:01:48.880 --> 0:01:49.840
<v Speaker 3>Member FDIC.

0:01:51.640 --> 0:01:53.000
<v Speaker 2>How do you get into art investing?

0:01:55.000 --> 0:01:58.080
<v Speaker 4>So you know, I used to get these big bonuses

0:01:58.760 --> 0:02:02.400
<v Speaker 4>the the wine and spirits business is a bonus based business,

0:02:03.200 --> 0:02:05.840
<v Speaker 4>and I would get these big bonuses, and I would,

0:02:06.000 --> 0:02:08.240
<v Speaker 4>you know, buy a watch, by a purse, buy all

0:02:08.280 --> 0:02:12.320
<v Speaker 4>of toys, the things, the things I like things. And

0:02:12.600 --> 0:02:16.560
<v Speaker 4>I remember hearing the record, I think it was a

0:02:16.639 --> 0:02:20.480
<v Speaker 4>j record and he talked about art and I was like,

0:02:20.600 --> 0:02:23.080
<v Speaker 4>I have not bought that yet, you know it like

0:02:23.120 --> 0:02:26.960
<v Speaker 4>it pricked my conscience. And the first real piece that

0:02:27.000 --> 0:02:29.240
<v Speaker 4>I invested in was a piece of art from South

0:02:29.280 --> 0:02:32.880
<v Speaker 4>Africa from an artist named Nelson Macomo. It was incredible artists.

0:02:33.520 --> 0:02:35.600
<v Speaker 4>And the reason why I say invested in is because

0:02:36.240 --> 0:02:39.280
<v Speaker 4>it was literally half my bonus and I and it

0:02:39.360 --> 0:02:41.120
<v Speaker 4>was hard for people to understand. They were like, you're

0:02:41.120 --> 0:02:43.640
<v Speaker 4>gonna spend what you're gonna what where are you talking?

0:02:43.680 --> 0:02:46.160
<v Speaker 4>That's a lot of money, just because we haven't really

0:02:46.200 --> 0:02:51.000
<v Speaker 4>been taught the value. It was like twenty five thousand.

0:02:50.760 --> 0:02:54.200
<v Speaker 5>Dollars and who educated you to know that that was

0:02:54.200 --> 0:02:55.200
<v Speaker 5>something that you should buy?

0:02:56.040 --> 0:02:58.919
<v Speaker 1>Well? And with that purchase, I just loved it.

0:02:59.760 --> 0:03:01.560
<v Speaker 2>Just looked at it and just like I loved it.

0:03:01.480 --> 0:03:05.320
<v Speaker 4>And I researched the artists and I mean it fell

0:03:05.320 --> 0:03:07.160
<v Speaker 4>in line with just kind of me falling in love

0:03:07.160 --> 0:03:09.639
<v Speaker 4>with South Africa too, you know, and I loved it.

0:03:09.760 --> 0:03:12.240
<v Speaker 4>So I think the first thing that I always like

0:03:12.320 --> 0:03:14.480
<v Speaker 4>to tell people is even though I invest in art,

0:03:14.639 --> 0:03:17.440
<v Speaker 4>I only invest in what I love. Like, if I

0:03:17.440 --> 0:03:21.600
<v Speaker 4>don't love it, I'm not really going to spend my

0:03:21.680 --> 0:03:26.160
<v Speaker 4>money on it. And so I've been really fortunate to

0:03:26.200 --> 0:03:28.760
<v Speaker 4>get to know a lot of artists directly, buy from

0:03:28.880 --> 0:03:32.680
<v Speaker 4>artists directly, so you circumvent the whole gallery and all

0:03:32.680 --> 0:03:34.680
<v Speaker 4>that kind of and you're supporting the artists, like the

0:03:34.760 --> 0:03:36.200
<v Speaker 4>artist is getting one hundred percent.

0:03:36.280 --> 0:03:38.040
<v Speaker 2>How much is that worth now?

0:03:39.760 --> 0:03:40.240
<v Speaker 1>I don't know.

0:03:42.160 --> 0:03:44.560
<v Speaker 3>That's interesting, right, I see it.

0:03:44.600 --> 0:03:45.040
<v Speaker 2>I love it.

0:03:45.040 --> 0:03:46.480
<v Speaker 1>Definitely worth more than what I bought it.

0:03:46.520 --> 0:03:50.360
<v Speaker 3>I'm assuming that maybe it was Picasto Babies a Jay

0:03:50.400 --> 0:03:53.520
<v Speaker 3>song that might have sparked it. But does that now

0:03:53.600 --> 0:03:56.920
<v Speaker 3>spark your love for art or did it just transit

0:03:56.920 --> 0:03:58.839
<v Speaker 3>into to South African art?

0:03:58.920 --> 0:03:59.119
<v Speaker 2>Right?

0:03:59.200 --> 0:04:02.560
<v Speaker 3>Did you start studying art, American artists, artists throughout the

0:04:02.600 --> 0:04:04.920
<v Speaker 3>world and now this becomes a passion for you based

0:04:04.960 --> 0:04:05.720
<v Speaker 3>on that one purchase.

0:04:06.000 --> 0:04:06.200
<v Speaker 2>Yeah?

0:04:06.320 --> 0:04:11.800
<v Speaker 4>You know what I realized art for me was I

0:04:11.880 --> 0:04:14.280
<v Speaker 4>just got lost in it. Like I realized I was like,

0:04:14.400 --> 0:04:17.080
<v Speaker 4>I love this, like I had just like this genuine

0:04:17.120 --> 0:04:20.159
<v Speaker 4>passion for it. I didn't grow up going to museums.

0:04:20.320 --> 0:04:22.680
<v Speaker 4>I didn't grow up going to art exhibits. I didn't

0:04:22.720 --> 0:04:25.800
<v Speaker 4>grow up in a house where there was art. And

0:04:25.880 --> 0:04:27.800
<v Speaker 4>so I think for me, I was like, oh, wait,

0:04:27.839 --> 0:04:30.719
<v Speaker 4>we belong here too. You know that it was really

0:04:30.760 --> 0:04:32.560
<v Speaker 4>that that fueled me. I was like, wait, this is

0:04:33.040 --> 0:04:34.920
<v Speaker 4>this is a space that we belong in as well,

0:04:34.920 --> 0:04:37.360
<v Speaker 4>and there's such an incredible art community. So I also

0:04:37.520 --> 0:04:40.240
<v Speaker 4>was enjoying like getting to meet people, you know, and

0:04:40.279 --> 0:04:42.400
<v Speaker 4>those people are like involved.

0:04:42.000 --> 0:04:44.440
<v Speaker 1>In in some cool stuff, you know.

0:04:44.600 --> 0:04:49.240
<v Speaker 4>So I think it was that definitely, you know, African art, art,

0:04:49.360 --> 0:04:53.720
<v Speaker 4>Black artists in general, you know, was something that I

0:04:53.760 --> 0:04:54.760
<v Speaker 4>was like, Okay, I love this.

0:04:54.839 --> 0:04:56.160
<v Speaker 1>These stories are incredible.

0:04:57.520 --> 0:05:00.760
<v Speaker 4>And then it became like, yeah, like you know, I

0:05:00.800 --> 0:05:01.920
<v Speaker 4>remember buying a piece.

0:05:01.960 --> 0:05:03.120
<v Speaker 1>You asked about the value.

0:05:03.160 --> 0:05:05.839
<v Speaker 4>I bought a piece for like twelve thousand dollars, and

0:05:05.880 --> 0:05:09.080
<v Speaker 4>I remember seeing an auction for the artists and her

0:05:09.120 --> 0:05:12.359
<v Speaker 4>piece so for ninety thousand dollars, and like, I have

0:05:12.520 --> 0:05:15.000
<v Speaker 4>one of her bigger pieces, earlier works that I bought

0:05:15.040 --> 0:05:18.280
<v Speaker 4>for twelve thousand dollars that's clearly gone up in value.

0:05:18.560 --> 0:05:21.960
<v Speaker 4>So I then also started just to understand like, oh, okay,

0:05:21.960 --> 0:05:24.040
<v Speaker 4>this is how that works. And then I think when

0:05:24.040 --> 0:05:27.200
<v Speaker 4>you study really wealthy people, really wealthy people have a

0:05:27.200 --> 0:05:30.000
<v Speaker 4>few things in common. They have real estate, a lot

0:05:30.000 --> 0:05:32.520
<v Speaker 4>of them have a lot of investment in wine, and

0:05:32.560 --> 0:05:35.840
<v Speaker 4>they invest in art. And I was like, okay, this

0:05:35.920 --> 0:05:37.960
<v Speaker 4>all kind of makes sense for me. You know, this

0:05:38.000 --> 0:05:39.160
<v Speaker 4>is the space that I play in.

0:05:39.240 --> 0:05:41.800
<v Speaker 2>Any way, So how many pieces do you have? Roughly?

0:05:43.160 --> 0:05:45.960
<v Speaker 1>Oh? Now, I probably have.

0:05:47.480 --> 0:05:51.200
<v Speaker 4>Over forty or fifty pieces of art and everything, not

0:05:51.360 --> 0:05:55.520
<v Speaker 4>just you know, I have sculptures, I have vases, I have.

0:05:55.480 --> 0:05:58.360
<v Speaker 2>I mean you so, wait, where do you keep it all?

0:05:59.000 --> 0:06:01.880
<v Speaker 4>It's everywhere. I mean, it's in my bathrooms, it's on

0:06:01.920 --> 0:06:02.919
<v Speaker 4>the floors.

0:06:02.960 --> 0:06:04.720
<v Speaker 5>But it ever get to a point because it's like,

0:06:04.720 --> 0:06:06.799
<v Speaker 5>all right, you could invest in a variety of things,

0:06:06.800 --> 0:06:09.480
<v Speaker 5>that art is some way where has to be kept, right,

0:06:09.680 --> 0:06:15.120
<v Speaker 5>So after a while, it's like you can't really fully

0:06:15.279 --> 0:06:17.040
<v Speaker 5>appreciate it. I don't think because you can't put it

0:06:17.120 --> 0:06:18.840
<v Speaker 5>on your wall. You can't put fifty pieces of art

0:06:18.880 --> 0:06:21.560
<v Speaker 5>on one wall, right, So it's like you could put

0:06:21.600 --> 0:06:23.760
<v Speaker 5>it in your office, you can put it in different places.

0:06:23.800 --> 0:06:26.880
<v Speaker 5>But when you really start to get a lot of art,

0:06:27.120 --> 0:06:29.800
<v Speaker 5>I'm always curious to know, like what are people doing

0:06:29.800 --> 0:06:31.120
<v Speaker 5>with all of the art that they are?

0:06:31.120 --> 0:06:33.240
<v Speaker 2>They just hoarding it in the basement.

0:06:32.920 --> 0:06:38.640
<v Speaker 4>Takes Yeah, I mean listen, people, do you have you know,

0:06:38.960 --> 0:06:41.840
<v Speaker 4>art storages that are specific for art, just like they

0:06:41.839 --> 0:06:46.640
<v Speaker 4>have wine storages. For me, I'm working to sell a

0:06:46.640 --> 0:06:48.240
<v Speaker 4>lot of wine so I could buy a nice, big

0:06:48.240 --> 0:06:50.080
<v Speaker 4>house so I can have all my art up in it,

0:06:50.640 --> 0:06:50.880
<v Speaker 4>you know.

0:06:51.200 --> 0:06:52.120
<v Speaker 1>I mean, now it's.

0:06:52.000 --> 0:06:54.359
<v Speaker 5>Because the art, the art storage that kind of I

0:06:54.400 --> 0:06:56.600
<v Speaker 5>don't understand that. I used to go I used to

0:06:56.680 --> 0:06:59.320
<v Speaker 5>go to art school when I was young. But I

0:06:59.320 --> 0:07:01.840
<v Speaker 5>don't understand art storage because the point of artists to

0:07:01.839 --> 0:07:05.000
<v Speaker 5>be appreciated, and if you're just storing it, I feel

0:07:05.000 --> 0:07:07.760
<v Speaker 5>like it's actually disrespectful to the art form, right because

0:07:08.279 --> 0:07:11.760
<v Speaker 5>now you've taken the beauty out of it, and now

0:07:11.760 --> 0:07:14.080
<v Speaker 5>it's just become like a file cabinet.

0:07:13.840 --> 0:07:15.840
<v Speaker 3>And all things a double entendre. You use the word

0:07:15.880 --> 0:07:18.480
<v Speaker 3>appreciate it while it's story, it is appreciatingiating.

0:07:18.560 --> 0:07:19.560
<v Speaker 2>But I get what you're saying.

0:07:19.680 --> 0:07:23.480
<v Speaker 5>Your art from an artist's standpoint, I understand the business, yeah,

0:07:23.920 --> 0:07:27.200
<v Speaker 5>but art should always come first.

0:07:27.200 --> 0:07:28.360
<v Speaker 2>The business should come second.

0:07:28.360 --> 0:07:31.960
<v Speaker 3>Well, some people create galleries, right, they create their own galleries.

0:07:31.560 --> 0:07:34.120
<v Speaker 4>Which I mean, I know people who have bought the

0:07:34.200 --> 0:07:36.920
<v Speaker 4>house is next to their house, and the house next

0:07:36.920 --> 0:07:37.720
<v Speaker 4>to the house.

0:07:37.640 --> 0:07:39.200
<v Speaker 2>It's art the gallery.

0:07:39.240 --> 0:07:42.400
<v Speaker 1>It's just amazing. Right. So I'm with you like part.

0:07:42.440 --> 0:07:45.000
<v Speaker 4>And when you ask me like the buying, you know

0:07:45.280 --> 0:07:47.640
<v Speaker 4>my rationale around buying only buy what I love because,

0:07:47.680 --> 0:07:49.480
<v Speaker 4>like you, I want it up. I want to see it,

0:07:49.560 --> 0:07:51.520
<v Speaker 4>I want to appreciate it. I also want to share

0:07:51.520 --> 0:07:53.480
<v Speaker 4>it with people. So like when friends come over, they'll

0:07:53.520 --> 0:07:55.520
<v Speaker 4>be like, your house is like a museum, and I.

0:07:55.520 --> 0:07:57.280
<v Speaker 1>Mean you feel so good, you know what I mean.

0:07:57.400 --> 0:08:02.080
<v Speaker 4>Like, I'm like, yeah, So everybody does it for a

0:08:02.120 --> 0:08:04.720
<v Speaker 4>different reason. But what I could tell you is again,

0:08:05.680 --> 0:08:08.760
<v Speaker 4>one thing I learned is that people that understand wealth

0:08:09.640 --> 0:08:10.440
<v Speaker 4>they into art.

0:08:10.600 --> 0:08:12.280
<v Speaker 1>They interwine and they into really well.

0:08:12.320 --> 0:08:13.680
<v Speaker 5>One thing I learned about art is that if you

0:08:13.720 --> 0:08:15.960
<v Speaker 5>put it in your office, is a tax right on.

0:08:16.120 --> 0:08:17.160
<v Speaker 1>It is a tax right off.

0:08:17.440 --> 0:08:18.080
<v Speaker 2>Yeah.

0:08:18.120 --> 0:08:20.120
<v Speaker 3>So I was saying, one of the places that we

0:08:20.160 --> 0:08:22.120
<v Speaker 3>definitely know that your art is going to show up

0:08:22.600 --> 0:08:23.440
<v Speaker 3>is the Smithsonian.

0:08:23.720 --> 0:08:25.000
<v Speaker 2>Yes, we'll talk about that.

0:08:25.080 --> 0:08:27.280
<v Speaker 3>I mean that's something that people will be able to

0:08:27.320 --> 0:08:30.200
<v Speaker 3>frequent and you go down in history forever.

0:08:30.320 --> 0:08:36.439
<v Speaker 4>Right, Yeah, that's exciting. So myself and ten collectors got together.

0:08:37.120 --> 0:08:42.120
<v Speaker 4>We've now acquired three pieces together and it's our way

0:08:42.160 --> 0:08:46.319
<v Speaker 4>of you know, collective economics, and we purchase a piece,

0:08:46.679 --> 0:08:50.720
<v Speaker 4>a Beisa Butler piece that we then donated to the

0:08:50.760 --> 0:08:56.320
<v Speaker 4>Smithsonian Museum in DC. And so my name will forever

0:08:56.400 --> 0:08:59.520
<v Speaker 4>be on the museum walls at the Smithsonian as a

0:08:59.559 --> 0:09:02.960
<v Speaker 4>donor of the piece, and not even that little thing, right,

0:09:03.080 --> 0:09:05.719
<v Speaker 4>Like we talk about like having the art in your

0:09:05.720 --> 0:09:09.199
<v Speaker 4>home and wanting to see it. I remember thinking like wow,

0:09:09.360 --> 0:09:12.800
<v Speaker 4>donating to a museum. But that's really also a big

0:09:12.920 --> 0:09:16.960
<v Speaker 4>part of you know, the art world, art collecting and

0:09:17.040 --> 0:09:21.160
<v Speaker 4>also increasing the value of your collection. So my collection

0:09:21.400 --> 0:09:25.480
<v Speaker 4>inadvertently increases in value because I own a piece in

0:09:25.520 --> 0:09:29.079
<v Speaker 4>a museum. And people who are in the art world

0:09:29.080 --> 0:09:31.199
<v Speaker 4>they know all these little nuances.

0:09:31.720 --> 0:09:34.400
<v Speaker 3>Do you see Because we talk about it in real estate, right,

0:09:34.679 --> 0:09:37.040
<v Speaker 3>a lot of times, if people can't afford the property,

0:09:37.679 --> 0:09:40.480
<v Speaker 3>let's have a collective. Maybe it's five people and we

0:09:40.679 --> 0:09:42.959
<v Speaker 3>make the down payment. All right, we go into do.

0:09:42.920 --> 0:09:43.360
<v Speaker 2>You see that?

0:09:43.400 --> 0:09:45.240
<v Speaker 3>And is that something that happens in the art or

0:09:45.480 --> 0:09:47.360
<v Speaker 3>often especially amongst our community.

0:09:48.640 --> 0:09:50.079
<v Speaker 1>You know, I don't want to misspeak.

0:09:50.880 --> 0:09:52.800
<v Speaker 4>You know, the collective that I'm a part of, that

0:09:52.960 --> 0:09:55.320
<v Speaker 4>was the first instance that I had ever heard of it.

0:09:55.360 --> 0:09:57.640
<v Speaker 1>I'm sure people are doing it, I just don't know.

0:09:58.280 --> 0:09:58.520
<v Speaker 1>You know.

0:09:58.840 --> 0:10:02.959
<v Speaker 4>The two pieces we bought, they were both one hundred

0:10:03.000 --> 0:10:05.840
<v Speaker 4>and fifty thousand dollars each. They go together. It's Adam

0:10:05.880 --> 0:10:09.959
<v Speaker 4>and Eve by Harmonia Rosales. So the total price of

0:10:10.000 --> 0:10:14.040
<v Speaker 4>the work was three hundred thousand dollars. And when we

0:10:14.080 --> 0:10:16.760
<v Speaker 4>all thought about it. We were like, I can't do that,

0:10:17.080 --> 0:10:19.360
<v Speaker 4>but I could do this, and so ten of us

0:10:19.400 --> 0:10:23.160
<v Speaker 4>got together and purchased it. Those two pieces have been

0:10:23.200 --> 0:10:26.480
<v Speaker 4>on display at different museums. It's actually at the Spellman

0:10:26.559 --> 0:10:30.760
<v Speaker 4>Museum right now, and so we're allowing the work to

0:10:30.920 --> 0:10:34.320
<v Speaker 4>just tour so people get to experience it. And once

0:10:34.360 --> 0:10:36.000
<v Speaker 4>we did that one, we were like, all right, let's

0:10:36.080 --> 0:10:39.199
<v Speaker 4>keep doing this. This is amazing. So I don't want

0:10:39.240 --> 0:10:41.839
<v Speaker 4>to say that it does happen, but I don't want

0:10:41.880 --> 0:10:43.120
<v Speaker 4>to say that it doesn't happen.

0:10:43.240 --> 0:10:45.080
<v Speaker 1>I just wasn't aware of it.

0:10:45.320 --> 0:10:47.320
<v Speaker 4>I know that when we had the opportunity to do

0:10:47.360 --> 0:10:49.160
<v Speaker 4>it together, I said, come on, y'all, let's do this.

0:10:49.679 --> 0:10:52.280
<v Speaker 4>Because it was thirty thousand dollars. But at the end

0:10:52.280 --> 0:10:54.800
<v Speaker 4>of the day, I'm part owner of three hundred thousand

0:10:54.800 --> 0:10:57.600
<v Speaker 4>dollars worth of art and that's just that one buy.

0:10:58.120 --> 0:11:00.880
<v Speaker 5>So what did like some best practices people that want

0:11:00.920 --> 0:11:03.000
<v Speaker 5>to get in art, like, is it like always go

0:11:03.080 --> 0:11:07.080
<v Speaker 5>through an art dealer, have insurance like you know, like

0:11:07.120 --> 0:11:09.200
<v Speaker 5>when you buy a watch, right, like you can. It's

0:11:09.240 --> 0:11:11.920
<v Speaker 5>best practices to go through authorized dealer as opposed to

0:11:11.960 --> 0:11:14.720
<v Speaker 5>just a jeweler. Right, It's best practices to have insurance

0:11:14.760 --> 0:11:17.160
<v Speaker 5>on the watch right, What are some of the best

0:11:17.160 --> 0:11:18.480
<v Speaker 5>practices for art buying.

0:11:18.960 --> 0:11:22.000
<v Speaker 4>Yeah, I mean again, I've been really fortunate. I've been

0:11:22.040 --> 0:11:24.240
<v Speaker 4>able to buy a lot of art directly through art

0:11:24.360 --> 0:11:27.480
<v Speaker 4>through artists. And the reason why I say fortunate is

0:11:27.520 --> 0:11:31.000
<v Speaker 4>because one, you get to know who you're buying the

0:11:31.040 --> 0:11:32.920
<v Speaker 4>work from. I mean, this work is in your home.

0:11:33.000 --> 0:11:36.520
<v Speaker 4>It's energy, right, A lot of these pieces have stories,

0:11:36.559 --> 0:11:39.160
<v Speaker 4>these artists maybe going through different things while they're actually

0:11:39.200 --> 0:11:40.120
<v Speaker 4>creating the work.

0:11:40.800 --> 0:11:41.240
<v Speaker 1>And so.

0:11:42.840 --> 0:11:46.480
<v Speaker 4>You know, I'm an advocate for people that want to

0:11:46.480 --> 0:11:48.040
<v Speaker 4>get to know the artists if you can.

0:11:48.200 --> 0:11:49.080
<v Speaker 1>It's worked for me.

0:11:50.120 --> 0:11:53.040
<v Speaker 4>Secondarily, you know, I've gotten to know some galleries that

0:11:53.080 --> 0:11:56.400
<v Speaker 4>I respect that I think are doing good by artists.

0:11:56.880 --> 0:11:59.240
<v Speaker 4>So you know it doesn't hurt to have some galleries

0:11:59.280 --> 0:12:02.800
<v Speaker 4>and your rep bet why, only by what you can afford.

0:12:03.720 --> 0:12:05.920
<v Speaker 4>And so I would say that that's my biggest advice

0:12:06.000 --> 0:12:09.360
<v Speaker 4>to people. You know, I've never financed any art, although

0:12:09.400 --> 0:12:12.320
<v Speaker 4>you can. You know, there are financing programs for art,

0:12:12.320 --> 0:12:17.400
<v Speaker 4>but I just like to think for good financial hygiene,

0:12:17.400 --> 0:12:18.679
<v Speaker 4>buy what you can afford.

0:12:19.160 --> 0:12:20.040
<v Speaker 1>That's worked for me.

0:12:20.679 --> 0:12:23.160
<v Speaker 4>You absolutely have to ensure your art and you have

0:12:23.200 --> 0:12:27.400
<v Speaker 4>to make sure that it's a reputable insurance that specializes

0:12:27.600 --> 0:12:30.760
<v Speaker 4>in art insurance. You need to think about where the

0:12:30.880 --> 0:12:32.400
<v Speaker 4>art is going to be in your home. A lot

0:12:32.440 --> 0:12:36.640
<v Speaker 4>of light is not friends. It's not art's friends like

0:12:37.080 --> 0:12:41.920
<v Speaker 4>light light. Yeah, so it ruins. It can, yeah it can.

0:12:42.520 --> 0:12:45.040
<v Speaker 4>So you know, making sure that the art is in

0:12:45.120 --> 0:12:47.600
<v Speaker 4>a position in your home that it isn't getting damaged,

0:12:48.000 --> 0:12:50.920
<v Speaker 4>making sure that you're framing with a reputable framer that's

0:12:50.960 --> 0:12:54.920
<v Speaker 4>going to talk to you about UV glass versus museum glassman.

0:12:55.000 --> 0:12:57.720
<v Speaker 4>This is all the stuff that goes into thinking about

0:12:57.800 --> 0:13:02.840
<v Speaker 4>preserving your art. And then you know, I've not been

0:13:02.880 --> 0:13:06.200
<v Speaker 4>someone who's gotten into the business of selling my art.

0:13:06.600 --> 0:13:09.360
<v Speaker 4>I know people that are in that business of selling.

0:13:09.400 --> 0:13:11.760
<v Speaker 4>I can't say that I would never do it for me.

0:13:11.840 --> 0:13:14.480
<v Speaker 4>It's legacy building. So this is what I'm going to

0:13:14.600 --> 0:13:19.440
<v Speaker 4>leave behind for my son, my goddaughters, my grandchild, you

0:13:19.480 --> 0:13:21.680
<v Speaker 4>know what I mean. Like this is really legacy building

0:13:21.720 --> 0:13:24.840
<v Speaker 4>for me and wealth building for them. So I think

0:13:24.840 --> 0:13:27.160
<v Speaker 4>it's just making sure you get educated, like you do

0:13:27.559 --> 0:13:30.559
<v Speaker 4>in anything that you're going to be investing your money.

0:13:30.720 --> 0:13:34.079
<v Speaker 4>And the last thing I'll say is the ten people

0:13:34.120 --> 0:13:37.560
<v Speaker 4>that I invested in art. I respect all those people

0:13:39.040 --> 0:13:42.720
<v Speaker 4>I expect, respect their portfolios, right, what they've done with

0:13:42.760 --> 0:13:45.080
<v Speaker 4>their money. I would have never just gotten with ten

0:13:45.120 --> 0:13:47.640
<v Speaker 4>people and bought some art that I didn't know I

0:13:47.760 --> 0:13:50.960
<v Speaker 4>felt were a good fit in what I was trying

0:13:51.000 --> 0:13:54.160
<v Speaker 4>to do, because that's a relationship. You're getting into a

0:13:54.240 --> 0:13:58.079
<v Speaker 4>business relationship with them. But I think the biggest thing

0:13:58.120 --> 0:14:00.640
<v Speaker 4>is by what you can afford and do all the

0:14:00.760 --> 0:14:03.160
<v Speaker 4>due diligence, the insurance and all that kind of thing

0:14:03.640 --> 0:14:06.120
<v Speaker 4>to make sure you're protecting your asset.

0:14:06.320 --> 0:14:07.040
<v Speaker 2>When it's touring.

0:14:07.400 --> 0:14:09.080
<v Speaker 3>Museums are paying to have it on display.

0:14:09.360 --> 0:14:09.960
<v Speaker 2>How does that work?

0:14:10.040 --> 0:14:13.600
<v Speaker 4>Yeah, so sometimes you will get paid by museums to

0:14:13.720 --> 0:14:18.000
<v Speaker 4>have the work. Sometimes it's that you're donating it because

0:14:18.040 --> 0:14:20.800
<v Speaker 4>you want the connection. You want to lean into the

0:14:20.880 --> 0:14:24.600
<v Speaker 4>equity of the of I think the institution, right, A

0:14:24.640 --> 0:14:29.160
<v Speaker 4>lot of these institutions have incredible equity. Smithsonian, for example.

0:14:29.200 --> 0:14:31.520
<v Speaker 4>I mean for me to say that I've been collecting

0:14:31.520 --> 0:14:33.840
<v Speaker 4>for five six years and I already have my name

0:14:33.880 --> 0:14:36.200
<v Speaker 4>in the most Smithsonian Museum is like a big deal.

0:14:37.040 --> 0:14:39.080
<v Speaker 1>So you know it's it's a mix.

0:14:39.160 --> 0:14:41.520
<v Speaker 4>But yeah, there are times where institutions will pay you

0:14:42.280 --> 0:14:46.359
<v Speaker 4>to actually have your art and their exhibits.

0:14:46.480 --> 0:14:50.160
<v Speaker 6>An illegal alien from Guatemala charged with raping a child

0:14:50.160 --> 0:14:53.960
<v Speaker 6>in Massachusetts. An MS thirteen gang member from El Salvador

0:14:54.240 --> 0:14:58.360
<v Speaker 6>accused of murdering a Texas man of Venezuelan charged with

0:14:58.440 --> 0:15:02.320
<v Speaker 6>filming and selling child biography in Michigan. These are just

0:15:02.400 --> 0:15:06.160
<v Speaker 6>some of the heinous migrant criminals caught because of President

0:15:06.200 --> 0:15:06.640
<v Speaker 6>Donald J.

0:15:06.720 --> 0:15:10.520
<v Speaker 7>Trump's leadership. I'm Christy Noman, the United States Secretary of

0:15:10.560 --> 0:15:15.360
<v Speaker 7>Homeland Security. Under President Trump, attempted illegal border crossings are

0:15:15.400 --> 0:15:18.760
<v Speaker 7>at the lowest levels ever recorded, and over one hundred

0:15:18.800 --> 0:15:22.680
<v Speaker 7>thousand illegal aliens have been arrested. If you are here illegally,

0:15:23.200 --> 0:15:26.480
<v Speaker 7>your next you will be fine nearly one thousand dollars

0:15:26.560 --> 0:15:30.680
<v Speaker 7>a day, imprisoned and deported, you will never return. But

0:15:30.760 --> 0:15:34.280
<v Speaker 7>if you register using our CBP home app and leave now,

0:15:34.680 --> 0:15:36.600
<v Speaker 7>you could be allowed to return legally.

0:15:36.960 --> 0:15:39.240
<v Speaker 6>Do what's right, leave now.

0:15:39.520 --> 0:15:43.880
<v Speaker 7>Under President Trump, America's laws, border and families.

0:15:43.480 --> 0:15:44.320
<v Speaker 1>Will be protected.

0:15:44.400 --> 0:15:46.520
<v Speaker 2>Sponsored by the United States Department of Homeland Security,