THE GOOD NEWS ABOUT A DEVALUED CANADIAN DOLLAR!
Affordability of Canadian Art for International Collectors
The depreciating Canadian dollar is leading to significant advantage for international collectors. At the close of business yesterday, $1.00 US would cost $1.4279 Cdn; 1 euro could be bought with $1.5549 Cdn and; 1 pound sterling could be exchanged for $2.0337 Cdn.
Art in any form is one of the buying opportunities that presents itself to all corporate and personal collectors abroad. Consider this example – for an American collector to purchase an Inuit carving priced at CDN $1,000.00, they would be spending only US $702, excluding sales tax). If the purchase of the carving is completed in Euros, the same carving would require only 638 Euros.
Art has always been and will continue to be an asset that serves as “long term store of value”. The art market does not exhibit the volatility typically experienced in global financial markets. Most of the risk in the global art market lies in the currency markets. Yet, the opportunity to buy beautiful Canadian art in foreign currencies is now as good as it has ever been since the early years of the last decade. A low dollar combined with a plentiful supply of beautiful Inuit art is almost the perfect storm for international collectors.
Browse our beautiful collection of uniquely Canadian Inuit art and add to your art collection today.