Hi! I'm Anand Prakash
ART & INHERITANCE

We hope you are participating in the activity we sent you last week! Here we are with the second part of the series as promised. Last time we talked about art and well- being and how art can stimulate your mind to take you on an intellectual and emotionally- fulfilling journey.

This time we will talk about the heirloom and financial aspect of art. By heirloom, we do not mean expensive family jewels, it could be anything that has been passed on by generations and has many stories to tell. It could be as simple as a shawl or a piece of art. Not only do they appreciate in value, but also hold sentimental values and irreplaceable memories. They become a member of the family, something that one gets attached to.

Heirloom art and collectibles add value to real estate value, and since they are unique to every family or individual, these living reminders of past generations make them unique and replace generic decor items. In fact, one does not need to inherit artworks or vintage items in the conventional sense. As long as they are genuine, they will tell stories of generations, and can be collected from the families directly or acquire them from galleries, other collectors, curators. Wealth managers specialising in investment in artworks and collectibles are gaining ground with their unique clientele base.

In a study by the National Art Education Association, UK, it was found that “Students researching the history of an artwork with which they are very familiar helps them appreciate the value of knowing the original cultural and physical environments of works of art studied in class”.