Art Collectors: Avoid These Common Mistakes

Henry Johnson of Northern Trust explains how to solve common problems that crop up when families pass art to the next generation.

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[arisgod]

the first rule of collecting. Get what you love. The second rule is best to get important artists while loving the piece, if you can afford them. I did that 20 years ago staring with Salvador Dali, an artist addition lithograph, hand-signed. My next purchase was a Pablo Picasso etching, one of 50 hand-signed. next was a Miro lithograph also hand-signed. The latest are two wonderful pieces by Marc Chagall, which are my favorites and least expensive. Kind of tells you money is not everything when it comes to a piece of art you fall in love with.

[Ebmw]

Why am I watching this.. I can barely afford rent

[NormYip]

Although his words say otherwise, he seemed to really be saying to collect for future investment, not for the joy in collecting or the love of art.

[davidjin]

Maybe I'm just a stupid hobbyist painter...but this literally reminds me of my college bio professor using as many big words as she could to confuse the entire class and therefore give off the impression she was smarter than she actually was

[eastcoastguy]

i can relate to this, i collected many collections from IKEA

[penguinmit]

shopaholism explained: it's all about the purchase, not the item.

[RR-obze]

Some collectors collect for the love others know it can be leveraged as an asset. No shame or hurt on either side just different ways of approaching the art market/collecting

[modfus]

Could somebody please tell me who the artist is who painted the large gray-tones interior 0:17

[LyndaBlackARtiSt]

As an ARtiSt myself, i think the only reason to buy art is because YOU LOVE IT!! ♡ it should make you happy & you should enjoy looking at it! =) art is very personal & your art collection is a bEAUtifUL way to express your own unique personality ♡

[artfx]

There will always be somebody that loves old stuff. Even the contemporary garbage might be cool to someone in the future.

[ShadesOfGuitar]

Ah yes, the *common* mistakes that the average person makes when handling their family’s significant art pieces during estate planning. WSJ is truly the paper of the people.

[diamondbolton]

That high gloss painting was striking in the few passing minutes aired

[mdenmark]

" is trying to do a real love of collecting withing their and important dialogue relating to these issues....

[navajoauckland]

What a disgusting view of philanthropists

[SourEggz]

As someone of incredible wealth and income enough to purchase large quantities of artwork, especially artwork worth upwards of $5000+... this video speaks to me, the humble viewer...

Oh wait. Never mind, I am not a wealthy person.


No seriously, this was an interesting and scary video - coming from the perspective of the artist.

[jaysartori]

That is my goal in life is to have pic of my artwork hanging up in a art gallery someday!

[broderickbrown]

The piece at 2:26 immediately made me think of the painting from Ghostbusters II of 'Vigo the Carpathian'.

[lluhu]

HE IS LYING. He says "often people give an object to a museum so that people enjoy it as much as they did"...these wealthy people who "give" the objects, either they do it to avoid paying taxes or they do it to make sure the price of the artwork is higher, or both. They do it for MONEY, not for charity.

[triumfdula]

Those who give an Artwork to Museum do they still own it or the give it away forever, or does it depend on the agreement ?

[florisjanandringa]

Could anyone please tell me who the painter is from 0:10?