A pension fund for artists
Basically, someone had the bright idea of looking at fine art collecting as an investment. Turns out that well-picked art appreciated at a rate of over 10 percent per year. There have been studies like this for all kinds of commodities (I always like the one that compared buying a case of beer, drinking the beer and returning the empties as being better than buying Nortel stock), but what’s really cool here is that they took this knowledge and developed a kind of pension plan for artists.
Artists in the plan donate 20 pieces over a 20 year period, and when they’re done, they’re left with a fund that might be worth $1.5 million or so. I don’t know that this would work with the “long tail” of artists out there (the fund looks for people who sell pieces for $5K to $10K), but it looks like an innovative safety net for those it can help.