Investment News

Italian art and its business opportunities

A new promising sector for Made in Italy

Italian art and its business opportunities

Claudia Astarita

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The Tax and Law Firm CBA, counting more than 120 professionals all over Italy, has convened connoisseurs from Christie's Italia, UniCredit and Open Care to discuss the investment opportunities deriving from Italian works of art.

A couple of weeks ago, experts have gathered during an ad hoc conference organized by CBA in Milan, where they also discuss how to protect Italian artistic masterpieces.

A remarkable contribution was given by the architect Laura Garbarino - Senior Specialist Post-War and Contemporary Art, Christie's Italia - who stressed the role of Italian Sale auction as a prominent shopping window for Italian works abroad. Figures supported this statement. In fact, Italian Sales held in London raised 43 million pounds last year.

Furthermore, the lawyer Nicola Canessa - CBA's partner - has highlighted the so called "art law", as a branch encompassing the commercial, administrative, commercial, civil and penal law. During the conference, Mr. Canessa also focused on the importance of art protection, both with regard to the single works and to the specific foundations involved in this field.

From the banking sector, Dr Domenico Filipponi - Art Advisory, UniCredit - intervened on the opportunities for art collectors to benefit from the bank consultancy. The latter would also include a "due diligence" assessment on the licit origin of the masterpiece, the authenticity and the potential performance on the international market. This contribution will give the client a more objective view on the worthiness of the investment.

From Open Care, Dr Alessandro Guerrini has enlightened the audience on the services for collection management. In fact, Open Care is able to assists its customers in several ways, such as storage, transport and restoration of works of art.

Finally, Dr Giorgio Orlandini - CBA Senior Associate - has pointed out the rise of a new sector aiming at connecting art with entertainment, i.e. artainment. The latter seems to be a prerogative of private collectors and families around the world, whose income has raised and are wiling to invest in art.

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