CLASSIQUE artwork sharing session in Chongqing
The salon event on the theme of “Concerns of Individuals with High Physical Attractiveness and High Net Worth 2018” was held in Chongqing on June 12, 2018. Hong Kong Takung Art Company Limited was invited to the sharing session in Chongqing to interact and exchange insights with high net worth groups on the experience and method of overseas asset allocation through high-end artworks.
Many large-scale enterprise heads, finance experts and high net worth clients were invited to the event to discuss taxation, investment, overseas assets and other hot topics as well as innovation and breakthroughs. Ms Qing Heng, vice-chairman of Chongqing Yuzhong District Bookkeeping Agency Industry Association and founder of Jiangyu Finance and Hengxun Taxation, first delivered a keynote talk on “Risks of Individual Income Tax Reform and the Direction of Reform”. Through insightful case analysis, Ms Qing elucidated the structure of individual income tax and the projected direction of reform, and demonstrated her tax planning skills.
Ms Juliet Zhou, managing director (China) of Roger Kam & Co. Certified Public Accountants was invited to deliver talks on three main topics, namely “Activating the Idle Fund within Enterprises”, “Outbound Capital” and “CRS policy” to address the issues of corporate internal fund raising, capital flow, multi-currency cash management and financial management and risks. Ms Zhou has profound experience in corporate compliance and cross-border business. The issues she raised on CRS policy, overseas capital investment and high overseas investment costs echoed the concerns of the attendees. Local enterprises prefer Hong Kong to other countries as financial and investment center because of its unique advantages, the attendees also fully affirmed this practice.
Mr Li Zishen, deputy general manager cum head of CLASSIQUE division of Hong Kong Takung Art Company Limited introduced the new model of overseas asset allocation through high-end artworks. With upcoming investment products, the inclusion of overseas artworks as investments in kind into overseas asset allocation projects relies on the professional decisions of investors and service institutions. CLASSIQUE offered by Takung Art is an integrated professional service platform that provides overseas asset allocation through high-end artworks to the individuals or institutions in need of the service.
In making investment decisions, CLASSIQUE sets the targets at impressionist, post-impressionist, contemporary Asian and contemporary western works of art and makes reference to past auction results and the art market data of international research institutes such as Artprice. Among different forms of art, the artworks in these periods are recognized by the international art market with better investment potential. However, in consideration of factors such as artist life cycle and artwork value life cycle, the limited number of artworks with investment value, and in most cases, the circulation of only some of them in the traditional market such as art exhibitions, art galleries and auction houses, investors are concerned with the capital, authenticity, custody and insurance despite a good annual return of several tens or even a hundred percent, they finally hold back. The launch of CLASSIQUE is to provide an opportunity for interested parties to participate in overseas asset allocation through high-end artworks by overcoming the said difficulties for better understanding of the artworks and investment value.
The attending guests said that they were most concerned with the expertise, convenience and security of investing in artworks, and CLASSIQUE could address these concerns. CLASSIQUE works closely with internationally renowned auction companies with add-on professional custody and insurance services to consolidate all artwork-related professional services. At the same time, blockchain technology is used for registration of artwork ownerships to safeguard the interests of all investors with shared ownerships.
Towards the end of the salon event, Mr Li introduced some “blue-chip” artists to the attendees and welcomed all to learn more about the artists and their works of art on the CLASSIQUE platform. CLASSIQUE endeavors to provide clients with quality overseas artworks for asset allocation.
CLASSIQUE is a French word and carries the meaning of classic works. It is also viewed as the combination of two English words “CLASSIC” and “UNIQUE”, meaning “classic, special and unique work”.
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