Discover the fulfillment of art collecting with home galleries: "The stock market doesn't give me any satisfaction."
- Grant Cardone, a real estate entrepreneur with an art gallery in his Miami home, stated that he derives more satisfaction from amassing artwork than from investing in the stock market.
- A former investment manager, Christian Levett, offers private tours of his all-female art collection in his Florence home.
- The Boros Collection, which contains contemporary art, is located in a massive World War II bunker in Berlin. Christian and Karen Boros, the owners, reside in a penthouse apartment above it.
Grant Cardone, a multimillionaire and art collector for 15 years, admits to being a spontaneous buyer.
Cardone, who is new to the art world, doesn't consider himself a connoisseur. He buys art pieces he likes, regardless of who created them. He has an art gallery to showcase his collection, which is displayed throughout his home.
Cardone was interviewed by CNBC via video call from his Miami home office, where an untitled piece by American graffiti artist Retna could be seen behind him, having been purchased in an online auction.
He got the piece after clicking the button, despite not having done any research, and he absolutely loved it when it arrived. He paid "maybe $140,000" for the work, he said.
In Cardone's home, two pieces by American pop artist Burton Morris can be found along a corridor, both depicting red Coca-Cola bottles arranged in a repeating pattern known as Coca-Cola 50A and Coca-Cola 50B. Cardone stated, "This I bought from Tommy Hilfiger, and it reminds me of the importance of scaling." Hilfiger was the previous owner of the home.
Cardone, a successful real estate investor and author of "The 10 X Rule," has a large following of around 17 million on social media, where he occasionally shares his insights on art investing.
"The art world is gaining traction as followers question its benefits, but individuals like me find it fulfilling and superior to other investments such as the dollar, euro, or stock market. I derive satisfaction from viewing art in my gallery, kitchen, or office, and am constantly impressed by its beauty."
In Cardone's gallery, with floor-to-ceiling windows and a security guard, is an abstract painting by American contemporary artist Kenny Scharf titled "Blipsibshabshok" (1997), featuring colorful futuristic symbols. Cardone also owns a second Scharf, "Controlopuss" (2018), a striking image of a red multi-legged creature, which he acquired for $279,400 from auction house Phillips.
Cardone pointed to a Basquiat print titled "Flexible" and said, "This is a Basquiat right here. The original would be $45 million." He then gestured to a work above the Basquiat titled "Read More" by American contemporary artist Al-Baseer Holly and said, "This piece I bought with the house."
Grant admitted that he makes purchasing decisions based on instinct.
He stated that he had no intention of selling any of it, as it was solely for his personal enjoyment. Additionally, he mentioned that art brought him immense happiness.
Female art in Florence
Christian Levett, a former investment banker, has a unique approach to art collecting. He has been accumulating art for nearly three decades, beginning with old master paintings and ancient Roman, Greek, and Egyptian artifacts before shifting his focus to works by female abstract expressionists.
Levett, who owns an art museum in Mougins, France, and conducts private tours of the artwork on the walls of his home in Florence, Italy, where he lives for six months of the year, could be said to have a whole home that serves as an art gallery.
Near Ponte Vecchio, Levett's home boasts 20-foot-high ceilings, original frescoes, and two floors of art, all created by women. The collection primarily consists of abstract expressionist pieces by artists such as Mary Cassatt and Dorothea Tanning.
Levett occasionally hosts tours of his collection for small groups, which may include students from American colleges in Florence, such as Harvard and NYU, or members of museum or patron groups.
"When They Were Gone," a 1977 painting by American artist Joan Mitchell, is a standout in Levett's collection. This large piece, measuring nearly 240cm tall and 180cm wide, graces his dining room walls.
Levett acquired it for about $2.8 million around 2015.
"Mitchell is considered one of the most significant female painters of the 20th century, with the auction value estimated to be between $15 million and $18 million," Levett stated.
In 1963, a series of portraits of John F. Kennedy was commissioned, and an Elaine de Kooning oil painting of him was highly praised. Levett purchased the artwork in 2020 for approximately $600,000.
Levett said he opens his home to students in the hope that it will inspire them to support art in the future.
The Female Artists Mougin Museum, which was previously known as the Levett Museum, is set to reopen in France on June 21. The museum's previous collection of art and antiquities is currently being sold at London auction house Christie's, with sales reaching almost £9.5 million ($11.9 million) so far.
Bunker art
In a 6,000 square foot penthouse apartment above their private collection, Christian and Karen Boros reside in a unique art space in Berlin. The Boros Collection, which is housed in a former World War II bunker, is a vast, high-rise building that the couple acquired in 2003 and spent several years converting into a five-floor exhibition space.
The bunker, which housed up to 4,000 people during the war, was later used as a storage facility for tropical fruit before being transformed into a nightclub. According to Raoul Zoellner, director of the Boros Foundation, 450 tons of concrete ceilings and walls were removed during its conversion into an exhibition space and home.
When he was 18, Christian, an advertising entrepreneur, bought his first artwork - a spade by German artist Joseph Beuys, as he told the Financial Times.
The bunker is not a museum, but an exceptional project initiated by an enthusiastic collector couple who could not have imagined how many diamond saws it would take to tear down dozens of bunker walls, or what that would set in motion, according to Zoellner in an emailed statement.
Since its conversion in 2008, over 590,000 individuals have taken guided tours of the bunker, featuring rotating pieces from the Boros Collection. Currently, there are 114 artworks on display, with a focus on the human body in various positions. According to Zoellner, the works explore the constant drive to optimize and the gradual adaptation of our bodies to technological devices.
Investing
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