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What has traditionally been the process for preserving the value of your art and collectibles assets? Ivan, Private Collector, provides his experience.
"So, assessing the value of your pieces over time is very important, and I would say, the best advice I was given by one of the persons who restores my painting is 'You need to catalog everything.'
So that's the first part. So that you record everything, you don't lose the provenance history right where you bought it, how much you paid for it, did you have any document that went with it, the catalog of the auction, you know. All these things. But also, so that you can document these things, and when the time comes that you need to sell these things, or somebody else for you — that it's all documented right.
The second purpose is that collections as a whole have more value than individual lots, taken individually. So there must be some logic to a collection that adds to the value of individual lots.
The third element is that once you catalog things, the, you can get them exhibited. And, getting a lot out that you bought, exhibited, adds to their value, tremendously. Because you increase the documentation about it, you make them more famous, per se, and, and by doing that, you increase the value of your assets.
So that's a very important dimension. By cataloging, you can get advice on how to re-balance your collection, get rid of pieces that, you know, honestly are not that good, or maybe are fake, so you can you can also exchange and communicate and then have external advice. External people tell you well, 'We think this is really good, we think this is really bad,' and reassess.
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