Mainebiz

February 22, 2021

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W W W. M A I N E B I Z . B I Z 13 F E B R UA R Y 2 2 , 2 0 2 1 F O C U S W E A LT H M A N A G E M E N T / R E T I R E M E N T John works with clients all over New England, a lot of whom have collectibles from fine arts to antique pianos, manu- scripts or stamps, which sparked her interest in the field early in her career. She's found that clients who are col- lectors don't always think of mentioning it to her at the start of the relationship. "Sometimes they don't tell you right away," she says. "e perception is you want to know about their finan- cial assets, but not necessarily any- thing else. Sometimes it's a few years before you discover they've got a pas- sion for cars, or they've got a Monet hanging in their living room." But not everyone collects — or can afford to buy — French Impressionist works, and John underscores it's not a given that every piece of art will go up in value. "ey will go in and out of fashion," she says. "What's good today might not be good tomorrow, and also the financial times change." In other words, people are more interested in buying art when they have extra cash on hand and the economy is strong though that's not something they can control, she says. Her advice to collectors: "You can always buy something that delights you from one of your local artists. at's probably the best thing to do." Brian Bernatchez, founder and man- aging principal of Golden Pond Wealth Management in Waterville, also has some avid collectors as clients but shies away from recommending art or other collectibles as an investment. "I'm into liquidity, I'm into invest- ments," he says. "On the other hand, when people reach a certain level of net worth, they're really thinking of other ways to store value. I'm getting a lot of folks saying, 'I'm not going to travel this year, I'm going to buy a piece of art.'" Another factor he cites: "e stock market has done so well, everybody is feeling richer and they're not spending as much, so that means a lot of discre- tionary money, which is reflected in prices you see now in art and anything collectible. ose markets are quite healthy right now." Sculpture dealer LaCombe can attest to that as well, after selling more than 100 pieces last year. She and her husband are also collectors. "We have collected sculpture for years, and I asked my husband if he con- sidered our art as an investment, but he said we invested in artists (their careers) who need to sell work in order to con- tinue to create," she said. "And we love to live with our collection." Shaping the future Back in Georgetown on the coast, the McIlvains look forward to a time when they can safely share their outdoor sculptures with others. Sky-McIlvain adds that they're drawn to sculpture's three-dimensional visual and tactile qualities and have mainly collected modern pieces with an abstract, natural- istic bent, saying, "We buy sculpture to make us think." Her husband offers a more practi- cal reason, saying, "We collect sculpture because it gives you something to look at … We've never thought of it as an investment." As they get older, they're also starting to think about what will become of their collection when they are no longer here. ey have some in mind for family, others for the grounds of a local school they support, and remain grateful for LaCombe's expertise and dedication. "She's done a wonderful thing for Maine, and she's unique because of how she does it," McIlvain says. R e n e e C o r d e s , M a i n e b i z s e n i o r w r i t e r, c a n b e r e a c h e d a t r c o r d e s @ m a i n e b i z . b i z a n d @ r s c o r d e s CN Brown Company has a variety of rate plans that are suitable for the smallest businesses to the largest en es. Choose a plan based on your business's size and unique needs. Comprehensive hea ng fuel op ons for your business cnbrownenergy.com/commercial-fuel/commercial-electricity Backed by superior service and reliability! > Electricity > Hea ng Oil > Kerosene > Propane > Natural Gas > Gasoline > Ultra-low Sulfur Diesel > Off-road Diesel STATEWIDE F I L E P H O T O / A M B E R WAT E R M A N Brian Bernatchez, founder and managing principal of Golden Pond Wealth Management in Waterville

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