Loans to museums

jeamimus

Is it possible to buy quality art or antiques and then loan them to museums who would take care of insurance and security?

I've heard this was done by people wanting to invest in art long term but I have my doubts.

coylemj

Most museums have a lot of stuff in storage so what you loan to them would need to be superior to anything currently in the cellar i.e. it would need to be something they would want to put on display straight away, otherwise they would probably decline the offer.

By any chance was it a dealer who made that suggestion?

jeamimus

coylemj wrote: »

By any chance was it a dealer who made that suggestion?

No, but I take your point. A couple of us were chewing the fat with a friend who was thinking of buying a classic car as an investment and this came up...

Del.Monte

jeamimus wrote: »

No, but I take your point. A couple of us were chewing the fat with a friend who was thinking of buying a classic car as an investment and this came up...

There's no proper car museum in the Republic and there's no space for additional vehicles at Cultra.

jeamimus

Del.Monte wrote: »

There's no proper car museum in the Republic and there's no space for additional vehicles at Cultra.

It wasnt about cars, this was just how the conversation started! Cars are free of Capital Gains Tax, might have arguable investment value. We then moved on to the pros and cons of antiques etc and the issue of security.

Diddley Squat

I think loaning to a museum can provide some tax benefits and also give the work the strongest provenance and signal of authenticity.

Usually this enhances the value of the item significantly- depending on the item of course.

Paulownia

Diddley Squat wrote: »

I think loaning to a museum can provide some tax benefits and also give the work the strongest provenance and signal of authenticity.

Usually this enhances the value of the item significantly- depending on the item of course.

I have lent stuff for exhibitions and the museum or gallery pays for transport and insurance while in their care but not long term.
I have also lent many years ago a large number of artefacts to a museum on an official basis but I could not actually imagine asking for anything back now

Beasty

I've loaned a few things to the National Football Museum in Manchester. That way they are available for the World to see, and they will sort out the insurance

I suspect it does depend on the specific establishment but I would imagine most museums would appreciate being able to display stuff without having to buy it

Paulownia

I think that in my case that yes I could ask for the stuff back as I had only loaned it but it might be regarded as rather selfish to do so.
The only reason I mention it is ghat anyone lending long term should be conscious of that

Red Kev

jeamimus wrote: »

No, but I take your point. A couple of us were chewing the fat with a friend who was thinking of buying a classic car as an investment and this came up...

Classic cars are in a price bubble at the moment, similar to what happened to prices in the UK in the late 80s and early 90s so take care of where you put your money.

whisky_galore

Red Kev wrote: »

Classic cars are in a price bubble at the moment, similar to what happened to prices in the UK in the late 80s and early 90s so take care of where you put your money.

Tastes change too, younger people tend to like cars that they grew up with seeing on the roads.