Business & Personal Finance

This summer, Bruno Cote, one of my favourite contemporary Canadian landscape painters, passed away on June 30, 2010.  

He was born in the city of Quebec on August 10, 1940.  In 1980, he began to travel from Vancouver to Newfoundland and paint Canadian landscapes.  According to his web site, Canada offered him a "richness of inspiration".  "The Pacific Rim's wild beauty in British Columbia, the warmth of Labrador's icebergs, the immensity of the Prairies' skies, the North's savage force and Quebec's magnificent forests" were "all elements of love impregnated in the painter's work."

It has been said that Bruno Cote "captured the heart and soul of Canada in his paintings".

The ability to purchase one of his paintings in any of the art galleries that exhibited his work across Canada was almost impossible immediately after his passing.

I was reminded that an artist's work may be purchased as an investment in addition to its beauty and enjoyment.

Peter Vincent wrote an interesting article entitled Contemporary Art as an Investment.  The author noted "For most of us, the art world is a muddy concoction of auctions, galleries, and museums punctuated by the occasional Globe and Mail headline screaming that one of Jackson Pollack's drip paintings just sold for $140 million, or Andy Wharhol's Campbell Soup Cans going for $14.5 million.  Those Wharhol soup cans started life in 1962, originally purchased for $1,000."

For those interested in purchasing contemporary art as an investment, Peter Vincent warns "much like golf…  for every hole in one in the art world, there are thousands of hooks and slices that will land you in the rough".

Whether buying contemporary art for enjoyment or investment, you may find the following titles at the Toronto Public Library of benefit:  

Bryce, Alan D.  Art Smart : The Intelligent Guide to Investing in the Canadian Art Market.  Toronto:  Dundurn Group, 2007.

McAndrew, Clare.  Contributor.  Fine Art and High Finance : Expert Advice on the Economics of Ownership. 1st Ed.  New York:  Bloomberg Press, 2010.

Skatershchikov, Sergei.  Skate's Art Investment Handbook : The Comprehensive Guide to Investing in the Global Art and Art Services Market.  New York:  McGraw-Hill, 2010.

St. Clair, Hugh.  Miller's Buying Affordable Art.  London:  Mitchell Beazley, 2005.

Thompson, Donald N.  The $12 Million Stuffed Shark : The Curious Economics of Contemporary Art.  [Toronto]:  Doubleday Canada, 2008. 

If looking for more information about Bruno Cote and his paintings, the Toronto Public Library has the following titles:

Assier, Maurice and Bruno Cote.  Bruno Cote.  [LaPrairie, Quebec]:  Editions M. Broquet, [1985].

Cote, Bruno and Martin Fournier.  Moods and Colours of a Land : Bruno Cote.  Ottawa:  Galerie d'Art Vincent, [1999?]