What to do when you have too much money

in #esteem6 years ago (edited)

I went at the bank this afternoon and I waited for my "advisor" in the imposing lobby which doubles as an art gallery and traditionally hosts exhibitions of contemporary art.
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So there I was killing time, wondering about my relatively little sensitivity to the art pieces on display and then I thought: I'll take some pictures and bring the reflection to my fellow steemians.
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Why would you exhibit art in the lobby of a bank, you wonder? Well don't forget this is Luxembourg and here one of the most lucrative banking business was "private banking" i.e. serving very rich individuals who have more money than they could care to manage themselves ("high" and "ultra-high net worth individuals", UHNWI in the jargon).
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So these guys would pass through the lobby (you don't want them waiting, do you) and might have their eye caught by a painting ....

As I'm a "low net worth individual" (LNWI) I enjoyed waiting in the lobby, pondering each piece, how it is probably ridiculously priced and ... what it all means!
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... or a sculpture ... or other kind of artistic composition ...
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... such as possibly this one ...
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... or maybe a bright and colorful one like this one ...
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And they would (possibly) think: "I have cash, I have bonds, I have equities, I have investment funds, I have alternative investments and gold and real estate .... but I need to diversify more ! One way to diversify my holdings is to buy art ! I should inquire my private banker what do these paintings here cost!"

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So the banker would be happy to offer advice (which is never free even when it seems free).
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And the customer will be happy to decorate one of his many mansions and the artist will be happy to sell something and put bread on the table (in general there are more artists than UHNWI ).

And the bank will be happy too because supporting art and sponsoring artists (free exhibition space) usually allows for some tax deductions and it's anyway good PR. ..

So here you are, today's investment advice, after you stocked up on STEEM you could consider diversifying by buying some art ! ;)

If you know what witnesses are and agree that people commited to keeping this blockchain ticking play an important role ...

(by simply clicking on the picture - thanks to SteemConnect)

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