IndexAtlas Group Launches ”Stock Watch: Art Stocks” Newsletter
Published September 26th, 2008
NEW YORK - IndexAtlas Group has launched “Stock Watch: Art Stocks,” a biweekly publication analyzing the performance of 11 public equity mostly small cap art industry companies listed in seven countries with a combined market cap of $2.2bn. “Stock Watch: Art Stocks” also provides commentary on global art market issues from IndexAtlas Group CEO Sergey Skaterschikov, author of “Skate’s Art Investment Handbook,” a guide for private and institutional investors in art.
Published by IndexAtlas in conjunction with Skate’s Art Investor Service, an affiliate of IndexAtlas, the Stock Watch focuses on the industry of art and can be accessed at www.indexatlas.com and www.skatepress.com; subscribers can also sign up to receive an email subscription.
In the current issue, Skaterschikov addresses the unmitigated failure of the financial markets and the success of the Damien Hirst auction at Sotheby’s, describing it as an essentially IPO-like deal strategy for the sell-off of a collection.
“Having global financial markets melt down as the backdrop for [the] Hirst sale sends a powerful message,” he comments. “Ultra-high net worth individuals continue to pursue their investments of passion no matter what. While liquidity and breadth of the art market will inevitably suffer in the current market gloom, the premium segment of the art market sees continuing demand from ultra-rich buyers.”
Sergey Skaterschikov is a financier who established IndexAtlas, an investment banking firm with offices in New York, Moscow and Vienna, in 2001. In 2006, “Skate’s Art Investment Handbook,” his first book, was published in Russia and the U.S. Directed at private and institutional investors in art starting from $1 million in allocation to art assets, the study remains the most current comprehensive guide to art investing. A second, expanded edition will be published in fall 2009 by McGraw-Hill.
Last April, IndexAtlas announced the formation of the Art Industry Fund, a private equity fund that invests exclusively in businesses serving the art industry. (The fund does not invest in art assets.) It will begin investing an initial fund of $50 million in coming months and is anticipated at being fully invested no later than December 31, 2009.
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