Green Art

Bullet Shih Jan, 2012 0
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Bloomberg is reporting that the Luxembourg Art Collection Fund plans to raise $80 million, buy a variety of art over a 4 year period and then simply sell the entire hoard for $160 million after 6 years for a 12% annualized return.  The fund will be looking to buy works between $130 thousand and $4.55 million and will charge the standard hedge fund rate of 2% per annum and 20% of profits.  If auction house comissions are to be factored in on both the buy and sell side, they had better look into real sunflower seeds rather than those of Ai Weiwei if they want to hit their growth targets.

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