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Speaker 2: How do you get into art investing?
Speaker 4: So you know, I used to get these big bonuses
Speaker 4: the the wine and spirits business is a bonus based business,
Speaker 4: and I would get these big bonuses, and I would,
Speaker 4: you know, buy a watch, by a purse, buy all
Speaker 4: of toys, the things, the things I like things. And
Speaker 4: I remember hearing the record, I think it was a
Speaker 4: j record and he talked about art and I was like,
Speaker 4: I have not bought that yet, you know it like
Speaker 4: it pricked my conscience. And the first real piece that
Speaker 4: I invested in was a piece of art from South
Speaker 4: Africa from an artist named Nelson Macomo. It was incredible artists.
Speaker 4: And the reason why I say invested in is because
Speaker 4: it was literally half my bonus and I and it
Speaker 4: was hard for people to understand. They were like, you're
Speaker 4: gonna spend what you're gonna what where are you talking?
Speaker 4: That's a lot of money, just because we haven't really
Speaker 4: been taught the value. It was like twenty five thousand.
Speaker 5: Dollars and who educated you to know that that was
Speaker 5: something that you should buy?
Speaker 1: Well? And with that purchase, I just loved it.
Speaker 2: Just looked at it and just like I loved it.
Speaker 4: And I researched the artists and I mean it fell
Speaker 4: in line with just kind of me falling in love
Speaker 4: with South Africa too, you know, and I loved it.
Speaker 4: So I think the first thing that I always like
Speaker 4: to tell people is even though I invest in art,
Speaker 4: I only invest in what I love. Like, if I
Speaker 4: don't love it, I'm not really going to spend my
Speaker 4: money on it. And so I've been really fortunate to
Speaker 4: get to know a lot of artists directly, buy from
Speaker 4: artists directly, so you circumvent the whole gallery and all
Speaker 4: that kind of and you're supporting the artists, like the
Speaker 4: artist is getting one hundred percent.
Speaker 2: How much is that worth now?
Speaker 1: I don't know.
Speaker 3: That's interesting, right, I see it.
Speaker 2: I love it.
Speaker 1: Definitely worth more than what I bought it.
Speaker 3: I'm assuming that maybe it was Picasto Babies a Jay
Speaker 3: song that might have sparked it. But does that now
Speaker 3: spark your love for art or did it just transit
Speaker 3: into to South African art?
Speaker 2: Right?
Speaker 3: Did you start studying art, American artists, artists throughout the
Speaker 3: world and now this becomes a passion for you based
Speaker 3: on that one purchase.
Speaker 2: Yeah?
Speaker 4: You know what I realized art for me was I
Speaker 4: just got lost in it. Like I realized I was like,
Speaker 4: I love this, like I had just like this genuine
Speaker 4: passion for it. I didn't grow up going to museums.
Speaker 4: I didn't grow up going to art exhibits. I didn't
Speaker 4: grow up in a house where there was art. And
Speaker 4: so I think for me, I was like, oh, wait,
Speaker 4: we belong here too. You know that it was really
Speaker 4: that that fueled me. I was like, wait, this is
Speaker 4: this is a space that we belong in as well,
Speaker 4: and there's such an incredible art community. So I also
Speaker 4: was enjoying like getting to meet people, you know, and
Speaker 4: those people are like involved.
Speaker 1: In in some cool stuff, you know.
Speaker 4: So I think it was that definitely, you know, African art, art,
Speaker 4: Black artists in general, you know, was something that I
Speaker 4: was like, Okay, I love this.
Speaker 1: These stories are incredible.
Speaker 4: And then it became like, yeah, like you know, I
Speaker 4: remember buying a piece.
Speaker 1: You asked about the value.
Speaker 4: I bought a piece for like twelve thousand dollars, and
Speaker 4: I remember seeing an auction for the artists and her
Speaker 4: piece so for ninety thousand dollars, and like, I have
Speaker 4: one of her bigger pieces, earlier works that I bought
Speaker 4: for twelve thousand dollars that's clearly gone up in value.
Speaker 4: So I then also started just to understand like, oh, okay,
Speaker 4: this is how that works. And then I think when
Speaker 4: you study really wealthy people, really wealthy people have a
Speaker 4: few things in common. They have real estate, a lot
Speaker 4: of them have a lot of investment in wine, and
Speaker 4: they invest in art. And I was like, okay, this
Speaker 4: all kind of makes sense for me. You know, this
Speaker 4: is the space that I play in.
Speaker 2: Any way, So how many pieces do you have? Roughly?
Speaker 1: Oh? Now, I probably have.
Speaker 4: Over forty or fifty pieces of art and everything, not
Speaker 4: just you know, I have sculptures, I have vases, I have.
Speaker 2: I mean you so, wait, where do you keep it all?
Speaker 4: It's everywhere. I mean, it's in my bathrooms, it's on
Speaker 4: the floors.
Speaker 5: But it ever get to a point because it's like,
Speaker 5: all right, you could invest in a variety of things,
Speaker 5: that art is some way where has to be kept, right,
Speaker 5: So after a while, it's like you can't really fully
Speaker 5: appreciate it. I don't think because you can't put it
Speaker 5: on your wall. You can't put fifty pieces of art
Speaker 5: on one wall, right, So it's like you could put
Speaker 5: it in your office, you can put it in different places.
Speaker 5: But when you really start to get a lot of art,
Speaker 5: I'm always curious to know, like what are people doing
Speaker 5: with all of the art that they are?
Speaker 2: They just hoarding it in the basement.
Speaker 4: Takes Yeah, I mean listen, people, do you have you know,
Speaker 4: art storages that are specific for art, just like they
Speaker 4: have wine storages. For me, I'm working to sell a
Speaker 4: lot of wine so I could buy a nice, big
Speaker 4: house so I can have all my art up in it,
Speaker 4: you know.
Speaker 1: I mean, now it's.
Speaker 5: Because the art, the art storage that kind of I
Speaker 5: don't understand that. I used to go I used to
Speaker 5: go to art school when I was young. But I
Speaker 5: don't understand art storage because the point of artists to
Speaker 5: be appreciated, and if you're just storing it, I feel
Speaker 5: like it's actually disrespectful to the art form, right because
Speaker 5: now you've taken the beauty out of it, and now
Speaker 5: it's just become like a file cabinet.
Speaker 3: And all things a double entendre. You use the word
Speaker 3: appreciate it while it's story, it is appreciatingiating.
Speaker 2: But I get what you're saying.
Speaker 5: Your art from an artist's standpoint, I understand the business, yeah,
Speaker 5: but art should always come first.
Speaker 2: The business should come second.
Speaker 3: Well, some people create galleries, right, they create their own galleries.
Speaker 4: Which I mean, I know people who have bought the
Speaker 4: house is next to their house, and the house next
Speaker 4: to the house.
Speaker 2: It's art the gallery.
Speaker 1: It's just amazing. Right. So I'm with you like part.
Speaker 4: And when you ask me like the buying, you know
Speaker 4: my rationale around buying only buy what I love because,
Speaker 4: like you, I want it up. I want to see it,
Speaker 4: I want to appreciate it. I also want to share
Speaker 4: it with people. So like when friends come over, they'll
Speaker 4: be like, your house is like a museum, and I.
Speaker 1: Mean you feel so good, you know what I mean.
Speaker 4: Like, I'm like, yeah, So everybody does it for a
Speaker 4: different reason. But what I could tell you is again,
Speaker 4: one thing I learned is that people that understand wealth
Speaker 4: they into art.
Speaker 1: They interwine and they into really well.
Speaker 5: One thing I learned about art is that if you
Speaker 5: put it in your office, is a tax right on.
Speaker 1: It is a tax right off.
Speaker 2: Yeah.
Speaker 3: So I was saying, one of the places that we
Speaker 3: definitely know that your art is going to show up
Speaker 3: is the Smithsonian.
Speaker 2: Yes, we'll talk about that.
Speaker 3: I mean that's something that people will be able to
Speaker 3: frequent and you go down in history forever.
Speaker 4: Right, Yeah, that's exciting. So myself and ten collectors got together.
Speaker 4: We've now acquired three pieces together and it's our way
Speaker 4: of you know, collective economics, and we purchase a piece,
Speaker 4: a Beisa Butler piece that we then donated to the
Speaker 4: Smithsonian Museum in DC. And so my name will forever
Speaker 4: be on the museum walls at the Smithsonian as a
Speaker 4: donor of the piece, and not even that little thing, right,
Speaker 4: Like we talk about like having the art in your
Speaker 4: home and wanting to see it. I remember thinking like wow,
Speaker 4: donating to a museum. But that's really also a big
Speaker 4: part of you know, the art world, art collecting and
Speaker 4: also increasing the value of your collection. So my collection
Speaker 4: inadvertently increases in value because I own a piece in
Speaker 4: a museum. And people who are in the art world
Speaker 4: they know all these little nuances.
Speaker 3: Do you see Because we talk about it in real estate, right,
Speaker 3: a lot of times, if people can't afford the property,
Speaker 3: let's have a collective. Maybe it's five people and we
Speaker 3: make the down payment. All right, we go into do.
Speaker 2: You see that?
Speaker 3: And is that something that happens in the art or
Speaker 3: often especially amongst our community.
Speaker 1: You know, I don't want to misspeak.
Speaker 4: You know, the collective that I'm a part of, that
Speaker 4: was the first instance that I had ever heard of it.
Speaker 1: I'm sure people are doing it, I just don't know.
Speaker 1: You know.
Speaker 4: The two pieces we bought, they were both one hundred
Speaker 4: and fifty thousand dollars each. They go together. It's Adam
Speaker 4: and Eve by Harmonia Rosales. So the total price of
Speaker 4: the work was three hundred thousand dollars. And when we
Speaker 4: all thought about it. We were like, I can't do that,
Speaker 4: but I could do this, and so ten of us
Speaker 4: got together and purchased it. Those two pieces have been
Speaker 4: on display at different museums. It's actually at the Spellman
Speaker 4: Museum right now, and so we're allowing the work to
Speaker 4: just tour so people get to experience it. And once
Speaker 4: we did that one, we were like, all right, let's
Speaker 4: keep doing this. This is amazing. So I don't want
Speaker 4: to say that it does happen, but I don't want
Speaker 4: to say that it doesn't happen.
Speaker 1: I just wasn't aware of it.
Speaker 4: I know that when we had the opportunity to do
Speaker 4: it together, I said, come on, y'all, let's do this.
Speaker 4: Because it was thirty thousand dollars. But at the end
Speaker 4: of the day, I'm part owner of three hundred thousand
Speaker 4: dollars worth of art and that's just that one buy.
Speaker 5: So what did like some best practices people that want
Speaker 5: to get in art, like, is it like always go
Speaker 5: through an art dealer, have insurance like you know, like
Speaker 5: when you buy a watch, right, like you can. It's
Speaker 5: best practices to go through authorized dealer as opposed to
Speaker 5: just a jeweler. Right, It's best practices to have insurance
Speaker 5: on the watch right, What are some of the best
Speaker 5: practices for art buying.
Speaker 4: Yeah, I mean again, I've been really fortunate. I've been
Speaker 4: able to buy a lot of art directly through art
Speaker 4: through artists. And the reason why I say fortunate is
Speaker 4: because one, you get to know who you're buying the
Speaker 4: work from. I mean, this work is in your home.
Speaker 4: It's energy, right, A lot of these pieces have stories,
Speaker 4: these artists maybe going through different things while they're actually
Speaker 4: creating the work.
Speaker 1: And so.
Speaker 4: You know, I'm an advocate for people that want to
Speaker 4: get to know the artists if you can.
Speaker 1: It's worked for me.
Speaker 4: Secondarily, you know, I've gotten to know some galleries that
Speaker 4: I respect that I think are doing good by artists.
Speaker 4: So you know it doesn't hurt to have some galleries
Speaker 4: and your rep bet why, only by what you can afford.
Speaker 4: And so I would say that that's my biggest advice
Speaker 4: to people. You know, I've never financed any art, although
Speaker 4: you can. You know, there are financing programs for art,
Speaker 4: but I just like to think for good financial hygiene,
Speaker 4: buy what you can afford.
Speaker 1: That's worked for me.
Speaker 4: You absolutely have to ensure your art and you have
Speaker 4: to make sure that it's a reputable insurance that specializes
Speaker 4: in art insurance. You need to think about where the
Speaker 4: art is going to be in your home. A lot
Speaker 4: of light is not friends. It's not art's friends like
Speaker 4: light light. Yeah, so it ruins. It can, yeah it can.
Speaker 4: So you know, making sure that the art is in
Speaker 4: a position in your home that it isn't getting damaged,
Speaker 4: making sure that you're framing with a reputable framer that's
Speaker 4: going to talk to you about UV glass versus museum glassman.
Speaker 4: This is all the stuff that goes into thinking about
Speaker 4: preserving your art. And then you know, I've not been
Speaker 4: someone who's gotten into the business of selling my art.
Speaker 4: I know people that are in that business of selling.
Speaker 4: I can't say that I would never do it for me.
Speaker 4: It's legacy building. So this is what I'm going to
Speaker 4: leave behind for my son, my goddaughters, my grandchild, you
Speaker 4: know what I mean. Like this is really legacy building
Speaker 4: for me and wealth building for them. So I think
Speaker 4: it's just making sure you get educated, like you do
Speaker 4: in anything that you're going to be investing your money.
Speaker 4: And the last thing I'll say is the ten people
Speaker 4: that I invested in art. I respect all those people
Speaker 4: I expect, respect their portfolios, right, what they've done with
Speaker 4: their money. I would have never just gotten with ten
Speaker 4: people and bought some art that I didn't know I
Speaker 4: felt were a good fit in what I was trying
Speaker 4: to do, because that's a relationship. You're getting into a
Speaker 4: business relationship with them. But I think the biggest thing
Speaker 4: is by what you can afford and do all the
Speaker 4: due diligence, the insurance and all that kind of thing
Speaker 4: to make sure you're protecting your asset.
Speaker 2: When it's touring.
Speaker 3: Museums are paying to have it on display.
Speaker 2: How does that work?
Speaker 4: Yeah, so sometimes you will get paid by museums to
Speaker 4: have the work. Sometimes it's that you're donating it because
Speaker 4: you want the connection. You want to lean into the
Speaker 4: equity of the of I think the institution, right, A
Speaker 4: lot of these institutions have incredible equity. Smithsonian, for example.
Speaker 4: I mean for me to say that I've been collecting
Speaker 4: for five six years and I already have my name
Speaker 4: in the most Smithsonian Museum is like a big deal.
Speaker 1: So you know it's it's a mix.
Speaker 4: But yeah, there are times where institutions will pay you
Speaker 4: to actually have your art and their exhibits.
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