"YEA!" for Europe and the Impressionist and Modern Auctions
Asher Edelman is an art financier. He began his career on Wall Street in 1961, where he worked in investment banking, money management, and derivatives trading (serving as CEO of Mack, Bushnell and Edelman). The Wall Street Journal calls him “the pioneer of the leveraged buyout.” In the 1980s Edelman taught a class for business majors based on The Art of War at Columbia Business School.
Edelman lived in Switzerland, where he founded a contemporary art museum near Lausanne. In 2001, he returned to the U.S. and opened an art dealership specializing in Impressionism-post war art as well as contemporary artists. In 2008, he opened a second gallery, Edelman Arts.
Since 2010, Edelman has been the founder and president of ArtAssure Ltd., an art finance company offering client advisory services, auction guarantees, deal advocacy and interim financing. For archival information visit www.artassureltd.com or write to firstname.lastname@example.org.
Note: This blog was co-written by Asher Edelman and Stewart Waltzer.
Yea for Europe (we hope)! On October 27 the European community announced the “solution” to sovereign debt and European banking. Some issues were left a bit unclear such as:
A lot of baggage to sort out. However, a reasonable start or at least a reasonable announcement of intent.
Now, to the Impressionist Modern Auctions. The top layer of the art market has consistently outperformed all other markets.We include stocks, real estate, commodities, and most known asset classes. TheEuropean “miracle” has, at the morning of 27 October, brought us exuberance in markets. If this exuberance holds through next week we might see a reasonable auction set.
The estimates set forth in the evening sales are anticipating new high prices for many artists. Whether this stance is real or simply the result of the houses battling for merchandise is not clear. Our take says it is the latter. Guarantees have dried up with only six lots guaranteed three by one of the houses as principal and thereby third parties, out of a total of one hundred and fifty four lots. Certainly neither the houses nor their usual third party guarantors exude confidence in the pricing of the sales.
Though the art market follows other markets, (usually with a time lag even though the art market outperforms all other markets over the long term) now is a time for some caution. All may not be as it seems.
For Stewart Waltzer and Asher's thoughts on Christie's November 1 auction and Sotheby's November 2 auction, please click here or visit AsherEdelman.com.
Giving our solar system a "slap in the face"
- A stream of galactic debris is hurtling at us, pulling dark matter along with it
- It's traveling so quickly it's been described as a hurricane of dark matter
- Scientists are excited to set their particle detectors at the onslffaught
Bernardo Kastrup proposes a new ontology he calls “idealism” built on panpsychism, the idea that everything in the universe contains consciousness. He solves problems with this philosophy by adding a new suggestion: The universal mind has dissociative identity disorder.
There’s a reason they call it the “hard problem.” Consciousness: Where is it? What is it? No one single perspective seems to be able to answer all the questions we have about consciousness. Now Bernardo Kastrup thinks he’s found one. He calls his ontology idealism, and according to idealism, all of us and all we perceive are manifestations of something very much like a cosmic-scale dissociative identity disorder (DID). He suggests there’s an all-encompassing universe-wide consciousness, it has multiple personalities, and we’re them.
Once again, our circadian rhythm points the way.
- Seven individuals were locked inside a windowless, internetless room for 37 days.
- While at rest, they burned 130 more calories at 5 p.m. than at 5 a.m.
- Morning time again shown not to be the best time to eat.
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