NEWS: ArteQuesta announces its new software for art collectors, the Art Portfolio Management System. “From a collector’s standpoint, our software offers simplicity for managing a collection without cutting corners or lowering standards,” comments Rayah Levy, ArteQuesta’s Founder and Director.
“This software allows our clients to open their portfolio with us and track the performance of their art, similar to other financial assets. It’s also available to collectors who aren’t our direct clients because we recognize the importance of this tool in the global market.”
Pointing to Deloitte’s latest Art & Finance Report, Levy believes there will be an increase in demand for professional wealth management services in relation to art and art collections.
“In 2014, 76 percent of art purchases were made for the art’s potential as an investment. The 2015 statistics show this percentage will grow. Increasingly, art professionals (76 percent) and art collectors (62 percent) believe art and collectibles should be integrated into wealth management offerings, which are opening new areas in an untapped market.
“Although those within the art industry have been welcoming this trend with excitement, the market itself has been slow in reacting to demands the influx of new investors bring, resulting in the creation of the Portfolio Management System.”
As part of its mission, ArteQuesta hopes to dispel the myth that art investment is the sole reserve of the ultra-wealthy. Levy believes that making all aspects of the process user friendly is essential to catering to the ever-growing market.
“We want people to know you don’t need to spend large sums of money to make a good investment in art. Though some of our artwork is at higher values, we have a number of artworks that are viable investments for median-level incomes.
“Most people aren’t aware of how to begin investing in art and we want to change that. This is why the timing of our software is vital. Just as we’re making the art world more accessible to the masses, we’re also making it easier to navigate by directly removing the most common and significant hurdles – provenance and verification of ownership.”
Levy states, “The Portfolio Management System was designed with provenance and verification in mind specifically because ArteQuesta’s most personal mission is to preserve Jewish and Israeli Art. In almost all cases in which we’ve identified and began the process of rescue or recovery, proving authenticity and ownership have been most difficult. As we look to the future with our software, there is unlimited potential for investors, collectors, museums and financial institutions to manage collections of any size, with updated and verifiable certificates of authenticity with ease. Adding the extra layer of tracking certificates of authenticity and ownership on the Blockchain, which will soon be incorporated in our system, will bring additional security to art purchases managed in the Portfolio Management System.”
More information: http://www.artequesta.com/.
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