![]() ![]() It is not necessarily an altruistic gesture. "Still, as important as the greatest instruments can be, the most talented artists will always manage to make their voice heard through their expressive creativity."Īnd some philanthropic-minded buyers actively help further players' careers by lending them instruments. "The competition from private collectors and investors has pushed many musicians out of the market," notes Evan Rothstein, deputy head of strings at London's Guildhall School of Music. Buyers want to be able to say, 'I have the violin Itzhak Perlman used to play.'"īut the rush is leaving musicians in a precarious situation. Francesca Peterlongo, who heads a major musical foundation in Italy, says: "The reason that Stradivari and Guarneri are so expensive is not just that they're famous brands and that there are so few of them, but also that famous musicians have played them. Yet such reports don't seem to deter buyers. And when asked to identify a modern violin and a Stradivarius, the majority guessed incorrectly. In a blind test involving several Stradivariuses and modern instruments, a group of established violinists were asked to pick the violin whose sound they most liked. Vienna-based Dietmar Machold embezzled tens of millions of dollars by telling clients their rare violins were worth a modest sum, then sold them for a much larger amount, pocketing the difference.Īdding to the mystery of a Stradivarius's or Guarneri's value is a scientific experiment earlier this year. ![]() Because dealers usually also evaluate the instruments, there can be conflicts of interest.ĭealers like Ingles and Leonhard enjoy worldwide respect, but two years ago another leading dealer was sentenced to six years in prison for fraud. The trade is not only esoteric but unregulated. There are other advantages of the instrument business for investors of a certain sort. Both Fulton and Moulds are accomplished amateur musicians, but Ingles' and Leonhard's clients also include hedge funds and individuals with little interest in music. London banker Jonathan Moulds also owns several Stradivariuses and Guarneris, which he says have tripled in value over 15 years. One collector, Silicon Valley millionaire David Fulton, owns close to 20 instruments made by Stradivari and Guarneri. Today, collecting instruments is a way of making your name, and it has made high-net-worth individuals interested in collecting." "The difference is that now there are major collectors all over the world. "Nonmusicians collecting rare violins is nothing new," notes Leonhard, a leading authority on instrument values. Unlike in the past, when foundations would usually buy instruments to make them available to musicians, today's buyers are often investors. "You may just have to wait a couple of years." Some 650 of Stradivari's 1,100 string instruments survive, as do 150 of the 250 violins made by his equally famous contemporary, Giuseppe Guarneri del Gesù. "The huge majority of Stradivari instruments are violins, so buying one is not that difficult," explains Ingles. ![]()
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