On June 14, 2016 Greiter Pegger Kofler & Partners and the art company MilionArt (www.milionart.com) held a presentation titled “Art as an Investment” in Innsbruck’s Grand Hotel Europa.
Alain Mestat (Art Capital Group Europe, Luxembourg) addressed the numerous guests (in spite of the international soccer match) in the baroque hall of the Grand Hotel Europa: “We offer our clients professional support in retaining and managing artworks”. Art has become a fully fledged investment alternative. The decision to purchase is not only determined by emotional/passionate components, expected returns play a role. The high-end art market sees investment in art as a refuge from insecure financial markets.
Our partner Dr. Georg Huber provided the legal aspect: “It is often not possible to determine with absolute certainty if an artwork is genuine. That can lead to nasty surprises, especially since the possibilities to reverse a purchase are limited. We advise our clients on how to go about art acquisition and what rights and possibilities they have when there are problems”.
The evening was rounded off with the culinary artistic contribution by Paul Renner (Food Art Project), who thrilled all present with an extraordinary idea: According to his instructions and with his support, delicacies from the Grand Hotel Europa’s kitchen were served on pictures painted especially for the event. While savouring the tasty morsels, bit by bit, the works of art were revealed.
Download: “Menükarte” mit Bildern von Paul Rennerback