Buy deep and don’t act impulse
The Filipino collector Lito Camacho (vice chairman of Credit Suisse in Asia) and his partner Kim have amassed over a 100 paintings by octogenarian artist Yayoi Kusama. They followed a “buying deep” strategy by selling lesser valued works from their collection to purchase better ones over the years. This strategy has paid off handsomely as the value of their collection has grown by 20 to 30 times. Lito says that art has been their best performing asset; far ahead of stocks, bonds, private equity or real estate. Neophytes looking to invest in art should visit fairs to get exposed to a variety of art assets. But visiting a fair with thousands of works on display is like going to a pet shop where every puppy looks cute. The couple says that it is important to know your weaknesses and blind spots as a buyer, avoid impulsiveness, and act rationally with a cool mind.
