The passing of the neo-expressionist master at 88 is a devastating blow to the global artistic landscape. Frankly, as I told my wealth manager over branzino this morning, the timing could not be worse for my estate planning.
When the Thaddaeus Ropac gallery confirmed the death of Georg Baselitz on Thursday, my heart sank. I immediately thought of the upside-down eagle canvas currently dominating the dining room of my Aspen compound. Baselitz, a man who defined German visual art for a generation, was more than just a painter to me. He was a reliable hedge against inflation. His expressive brushstrokes stirred controversy, but more importantly, they stirred consistent year-over-year valuations at Christie's.
We are deeply saddened by the departure of a visionary, though we have already guided our high-net-worth collectors through the resulting supply shock.
I remember a recent lunch with the Chancellor where we discussed the sheer visceral power of Baselitz's wooden sculptures. We both agreed that true genius lies in creating work challenging enough to prompt critical acclaim, yet recognizable enough to justify a seven-figure hammer price. While the public mourns a pioneer, I find profound solace in knowing his legacy—and the tax-advantaged status of my private collection—will endure undisturbed.