As early as the end of 2006, Minsheng Bank developed the first asset management product linked to art collection. On July 8, 2007, China's first wealth management product for art collection 1 was issued by Minsheng Bank. With the raising of funds, Minsheng Bank finally extended its chopsticks to the "crab"-"art bank", which made many wealth managers feel scared.
Because this business of Minsheng Bank is still the first in China and few in the world, the risk can be imagined. This mainly includes credit risk, liquidity risk, operational risk and reputation risk. In order to cope with risks, people's livelihood is strictly controlled in all controllable areas, such as choosing financial institutions with rich experience and successful operation system in "art bank" business for comprehensive cooperation; Hire first-class art experts with high social prestige and status as the business director of "art bank"; Choose top auction companies, pawn companies and art investment consulting companies at home and abroad as partners; Introduce trust and investment companies as custodians to ensure the safety of funds.
Minsheng Bank's wealth management products are mainly designed for the bank's high-end customers, and also gradually raise funds from the public. The initial investment of the customer is 500,000 yuan, and the investment period is two years. In order to achieve the maximum return of the raised funds, the key is to rely on a team of experts and consultants with rich industry experience and high standards to find good works that have not been sold well in the vast ocean of art, and to make every effort to create or introduce powerful painters, so as to obtain rich returns. Banks should not only rely on their own strength to make works of art, but also rely on art consulting companies, which is one of the weaknesses of the domestic contemporary art market. Coupled with many uncertainties in the art market, it is not easy for banks to avoid risks, and people in the industry are worried about Minsheng Bank.
Since the launch of Minsheng Bank's "Art Investment Plan", client funds have entered the bank in Beijing, Shanghai and Guangzhou. Minsheng Bank aims to raise 6,543.8 billion yuan. From the operability point of view, it does not want to make a large scale. During the implementation of 1, explore the experience of successfully operating artworks to ensure the subsequent launch of No.2 and No.3 wealth management products. Minsheng Bank, starting from the starting point of art investment, moved chopsticks on the "crab" of Art Bank, perhaps only tasted a delicious part of the "crab", but I am afraid it is too early to eat all the "crabs". Hong Kong Baoqutang Art Investment Finance Co., Ltd. is the only "art bank" in Hong Kong that has been licensed by the SAR Government to operate art as a mortgage loan. At present, the asset mortgage loan business run by major banks can be used as mortgage loans, such as real estate, real estate, fixed assets, etc., but art collections cannot be used as collateral. Although a famous painting is worth more than 100 million yuan, the price of a collection is tens of millions of yuan. Mr. Xie, curator of Baoqutang Contemporary Art Museum, is also a collector himself. The investment in art collection is very painful because of poor capital turnover, so he registered and established an art investment finance company to legally carry out loan services with art collection as collateral. Since the company was incorporated in July last year, it has lent tens of millions of yuan. The collection of works of art mortgaged by loans mainly includes famous oil paintings, famous Chinese paintings, official kiln porcelain and Shoushan stone, mainly Tian Huangshi. Miscellaneous items are not used as collateral for the time being because they are difficult to identify. Lenders come from all over the world, mostly collectors, but there are also galleries and other art institutions.
At the "2008 Art Bank and Art Business Strategic Innovation Seminar Summit", Mr. Xie introduced in detail the operation mode and mortgage terms of Baoqutang Art Investment Finance Co., Ltd. Mr. Xie believes that the biggest risk of "art bank" is to collect fakes. In order to minimize the risk, Baoqutang has hired more than 10 experts from Hong Kong and at home and abroad to identify the works of art applying for mortgage, and to identify them according to the latest market price. Each evaluator will sign the final evaluation. If the collector is satisfied with the valuation, it can be used as collateral. Chinese painting is the riskiest collateral. First, it is difficult to distinguish the authenticity of Chinese painting, and experts sometimes have different opinions. Second, the price difference of the same Chinese painting in different occasions and stages is several million yuan, which is very difficult to evaluate, so the evaluation of Baoqu Hall is often conservative. Mr. Xie emphasized that the basic criteria for choosing oil painting and Chinese painting as collateral are, firstly, masterpieces by famous artists, and secondly, good works. For him, whether a work of art is a masterpiece is the most important thing. These collateral are stored in an all-weather air-conditioned, constant temperature, moisture-proof, confidential and safe place until the owner of the collection takes back the treasure without any damage.
"We don't want to pawn artworks," said Haisheng of Guangzhou Sancai Gallery after the introduction of Teacher Xie. He hoped that the service of Baoqu Museum would be more humanized and that the "art bank" would not be turned into a "pawn shop". In this regard, Mr. Xie has a clear attitude. He said that the art bank is not a charity, and its services can be humanized and improved, but it must not be emotional. After the mortgage, the owner of the art collection remains the same, and there is no pawn for me. After the expiration, the property right still belongs to the original owner. Banks and owners must strictly implement the mortgage loan contract, treat both inside and outside the industry equally, and there can be no double standards, otherwise the risk of "art bank" cannot be avoided.
At the seminar, Mr. Xie was full of energy and laughter. He knew at a glance that Baoqutang had enjoyed the "crab" feast. Although they didn't eat the whole crab, they are undoubtedly the people who eat the most.
In fact, there is no essential difference between Bao Qutang's art mortgage loan and the asset mortgage loan of major banks, but the collateral is different. But it has opened up a new financing channel for the owners of art collections and some art institutions. For example, a gallery has a famous painting worth tens of millions, but it doesn't want to sell it, waiting for its appreciation, but it lacks liquidity. At this time, the painting can be mortgaged, which can not only solve the problem of capital turnover, but also find a safe place for famous paintings, saving the trouble of natural and man-made disasters. Why not? In this regard, Mr. Guo Haoman, the chairman of Hong Kong Yunfeng Gallery, which currently has nine galleries in Hong Kong and the Mainland, said at the seminar that the mortgage loan for art collection is "better than nothing". Wall Art Museum, affiliated to Beijing Century Wall Culture and Art Co., Ltd., is a professional organization dealing in artworks. Last July, it appeared in Beijing as an "art bank". Art rental is the main service of the Wall Art Museum. As long as you pay a certain deposit, you can rent your favorite works of art to be exhibited, displayed or hung in the room. In addition to the deposit, there is also a rental charge for the rental of artworks, which is 3% of the price recognized by both parties on a daily basis? 6% to collect. Take a famous painting of 200,000 yuan as an example, the daily rent is about 6,000 yuan to12,000 yuan.
At the same time, the works of Wall Art Museum can be sold. The works sold have both faithfulness and commitment to preserve and increase value, but the works to preserve and increase value are limited to the works of six artists, such as Wang Jinsong and Su Xinping, who are its main promoters. For example, the buyer spent 654.38+10,000 yuan to buy a work recommended by the Wall Art Museum, which can be appreciated within one year after signing the agreement/kloc-0.09 million yuan (9% higher than the original price). If it does not reach109,000 yuan by then, "Art Bank" will make up the difference for the buyer. If the sold works are appraised by an authoritative appraisal institution or the painter himself finds them as imitations, the Art Bank will compensate them at twice the selling price.
Most domestic art institutions are not interested in the "art bank" of the Wall Art Museum, and collectors also think that the rent of art is too high, which makes ordinary art lovers flinch. It's better to buy art directly than rent it. As for the commitment to add value to the purchased works of art, will it appreciate? How much is the appreciation? Who is in charge? Is it an auction company or a bank? How strict are the experts at Art Bank? What is the basis of price evaluation? Many questions are unknown. Therefore, some insiders believe that the lease and preservation of works of art is only to attract people's attention and attract business. Since last year, the Wall Art Museum has tried to rent artworks. Whether the above problems can be solved remains to be considered. Just as financial institutions from all over the world are aiming at the crab "art bank", in May 2008, "Shenzhen 22 Art Zone", one of the sub-venues of the 4th Shenzhen Cultural Fair, launched the "China Art Ecological Bank". Nine centers will be built in Shenzhen 22 Art Zone, namely: Art Exchange Center, China Art Ecological Bank, Original Music No.1 Aircraft Carrier, Ge Feng Art Creation Library, Cultural Bar Brand Street, International Art Youth Apartment, Art Training Center, China Writers Base and China Image Center. In order to ensure that Shenzhen 22 Art Zone, which is called "the carrier of southern art" by experts, sails all over the world, China Art Ecological Bank was established at the beginning of the establishment of Shenzhen 22 Art Zone. "China Art Eco-Bank" is the core platform for the operation of "Shenzhen 22 Art Zone", and it is also the first art eco-chain transaction management platform developed in China according to the present situation of China art market. Developed by Ge Feng Art Research Institute for three years, the project will provide a series of services such as art trust, insurance, logistics, mortgage, transaction and authorization, covering almost all the functions of the "art bank". It plans to become the largest "art bank" in China, and will interact with financial banks, thus promoting the healthy development of the art market in China. Its service management function will promote the standardized operation of China art market and give play to its international radiation. It is understood that during ICIF, the total investment intention of "China Art Eco-Bank" is 2 billion yuan, which will definitely have a great impact on the art market. The goal of "China Art Ecological Bank" is to "eat" the big crab of "Art Bank". I believe that time will make the final judgment.
The financialization of art is a very obvious trend since the new century. Art has already walked out of the "pyramid" of art and integrated into the market economy, and the way of art investment and financial management is constantly being refurbished. The financial industry or investment institutions that have been on the sidelines for a long time have begun to integrate a large amount of funds into the art market. The "crab" of "Art Bank" has attracted the attention of more and more financial institutions and investment institutions, and the pioneers have gained many successful experiences. We will wait and see who will be the first person to eat this "crab". Undoubtedly, the "Art Bank" has propped up a blue sky for the art market, artists and collectors, and the art market will surely present a more prosperous scene. On June 5438+February 2, 20091,the China Contemporary Art Exhibition of the Private Banking Department of Bank of China (Wuhan) closed, which was the first time that a private bank held an art exhibition in Wuhan. Unlike ordinary customers who simply provide products, banks pay more attention to providing various value-added services to high-end customers, and art investment is one of the important categories. The Private Banking Department of Bank of China (Wuhan) announced that it would build the first art bank in Jiangcheng.
The exhibition exhibited 34 art collections of Leng Jun, Shi Chong and other 12 national famous artists. There are six artists accompanying the clients. If the clients like the works, they can sign contracts with the artists on the spot. Yu Ding, curator and vice president of the School of Humanities, China Academy of Fine Arts, revealed that most of the oil paintings, ink paintings and sculptures on display cost more than several hundred thousand yuan, and some are as high as one million yuan.
At the same time, in Beijing, Shanghai, Guangzhou and other places, private banks have joined hands with the art world to provide customers with art investment channels.