Pat and Claire Keegan, proprietors of Solo Arte, located on the Waterford/Tramore Road, will launch an alternative asset Managed Art Fund at the International Dublin Art Fair in the RDS on Thursday, September 11th.
The Dublin Art Fair is considered a premier international event and provides the Keegans with an ideal stage to launch their new venture.
Sixty selected galleries will exhibit the very best in new work from Irish and international artists while the country’s top gallery directors and curators will be on hand to provide a guiding hand to buyers.
The Managed Art Fund is a tax-efficient investment, whereby investors can expect potential gross returns of up to 49.5 per cent over three years and 31.5 per cent over eight years.
Participants in the art fund will have the option of displaying the art in their homes or business but must have insurance and be responsible for the individual piece.
With falling stock markets and a difficult property market, such projected returns look very attractive.
Accountants may also be interested to see the various cash projections over the three-year period.
By aggregating money it is possible to purchase Irish fine art at attractive prices from Irish art galleries.
The Irish artists selected must be expected to deliver returns of 10 per cent per annum as a minimum. Needless to say, this art does not come cheap and the minimum investment is €25,000.
Pat and Claire Keegan referred to the special tax relief available on this type of investment under the 1997 Finance Act. They will advise on purchase and sale of particular artists.
Needless to say, the investment is not without some form of risk in the event of a decline in the art market.
Among the artists listed are Arthur Maderson, Mark O’Neill, Kenneth Webb, Pauline Bewick and others.
Further details can be obtained online at www.soloarte.ie