Collapse Of Art Investment Co. Hurts Artists, Investors

The collapse of art investment company Taylor Jardine has left a lot of artists and investors owed money. “Investors were told that once they had bought the paintings, Taylor Jardine would arrange for them to be leased to companies in London. They were assured this would generate an annual income of about 15 per cent on top of any increase in the value of the paintings. But, by the time the company folded, just 300 of the 2,000 paintings had been leased. This was a company that banked at Harrods and stored its art at Christie’s. Its brochures were glossy, its website was slick and its salesmen had public school accents. But despite the swanky exterior, investors have lost £6.4m and struggling artists have been told they may have lost the works they offered for sale.”