Archive for the ‘storage’ Category

Below the streets of NW DC

August 19, 2009

Most museum visitors don’t realize that the institutions they are visiting exhibit only about 15% of their overall collection, the rest lies below your feet in storage.  So it is no surprise that the National Geographic Society has followed this example with what has been described as  a “secret” museum below the streets of NW Washington, DC.

“For many years,” Randy Kennedy writes, “there has been a kind of secret museum of photography under the streets of northwest Washington — an immense, windowless, climate-controlled archive with roots reaching back more than a century.”

Equally exciting is the news that the works will be sold.

“The pictures comprise the archive of the National Geographic Society, and it was this sentiment said Mr. Bonner, the society’s archivist, that motivated him and officials there to explore the idea of opening up the holdings to the fine-art market for the first time. National Geographic’s goal is to find private and institutional collectors for the vintage black-and-white prints and later color images.”

I wish for the NGS’s sake that someone would have thought of this in 2006-2007, but I always applaud new material on the market – there has got to be some exciting sleepers for the niche photojournalism market.

Thank you NYTimes Art & Design: Treasures From an Underground Trove and I’m curious if we’ll be able to preview some of the rare works during Fotoweek DC before they are shipped off to Chelsea?  Perhaps it would be a good marketing tool and would increase the chances of keeping some of these treasures in DC-based collections?

Courtesy of The New York Times, B. Anthony Stewart/National Geographic Society and Steven Kasher Gallery.

Courtesy of The New York Times, B. Anthony Stewart/National Geographic Society and Steven Kasher Gallery.

It is almost April 15th … Cautionary Information about the Tax Benefits of Investing in Fine Art

April 10, 2007

Investing in fine art can also have tax benefits. In the United States, the Internal Revenue Service considers an “investor” in art someone who can “claim that one’s interest in art is purely as an investment,” and indicates that “one must consult occasionally with experts and subscribe to the relevant periodicals” (Grant 2005). With more and more individuals claiming on their tax returns that they own an art collection solely for investment purposes, the IRS is increasingly refusing permission for such deductions and insisting that artworks cannot be hung in a home or office since the owner could derive psychic benefits from owning them. “Psychic benefits” is an art industry term that describes the enjoyment one experiences from viewing their works; their visual enjoyment.

artstorage.jpg

To be considered an investor, keep it locked up, says the IRS.


Follow

Get every new post delivered to your Inbox.