Ashburton art lovers will have an opportunity to make a new acquisition later this year when the Ashburton Trust
sells off its art collection. Reporter SUE NEWMAN takes a look at the what the trust's art investment and finds
out why its selling off the family silver.
Thousands of dollars worth of art works will go under the auctioneer's hammer later this year as the Ashburton Trust divests itself of surplus assets.
The works have been collected over more than 40 years, with purchases usually made at the Ashburton Society of Arts' annual exhibition.
Over the years the collection has grown to reach more than 170 items, most of which are hung in trust outlets and offices around the district.
But the days as a fine art collector are over for the trust. Its board is committed to maximising every dollar it owns and earns, driven by a need to reduce debt and ultimately, return more in grants to the trust's owner, the community.
Former trust president, Tony Todd, has had a hand in buying works of art for the trust for years.
He was a board member for 30 years and for most of that time was a member of the small art acquisitions committee.
The trust became a regular buyer of works of art when it started sponsoring the annual Ashburton Society of Arts awards.
It opted to foot the bill for the winning artwork and part of the deal was it took that painting home to hang in one of its venues.
This practice continued for many years – until the price of the artwork began to exceed the prize money paid out by the trust.
For the artist this took the gloss off winning and the trust opted to pass up its purchase option and instead bought anything that took its fancy from the hundreds of art and craft works on display.
And that worked well, Tony said, with the trust acquiring a wide range of pieces, some bought with a venue in mind, others bought simply as an investment.
Often the trust would buy works by a local artist, seeing this as a way of recognising local talent and fostering local artists.
When the artworks go under the hammer, the wisdom of earlier trust board members when it came to spotting art that would appreciate in value, will be tested.
While he's happy to see the trust turn art into cash, Tony hopes some paintings will be retained, particularly for the reception and lounge areas in the Hotel Ashburton.
He might have had a hand in selecting a large part of the trust's collection in the past, but said he recognises that releasing cash is a much better business decision for today.
And that trust today is very different to the trust of the past. It's traded its comfy club past for a slick, business-focused future.
The trust's life is neatly divided into two phases – pre-deregulation and post-deregulation.
For most of its trading life, since its establishment in 1950, the trust traded in the most protected of environments.
For 54 years it traded as a monopoly. It owned all liquor outlets and for most of that time, all licensed dining establishments within its boundaries.
But in 2004 people decided they wanted the trust to trade in a competitive market, they wanted private enterprise to go head to head with the trust. They wanted choice.
Losing the competition poll forced the trust to change. What it had been doing for 54 years would no longer work for consumers who were demanding a taste of what was on offer up the road in Christchurch.
The trust was smart. It took a long, hard look at itself, realised it was living in the past.
It took to the new trading environment with gusto.
Some say it went too far too fast, that life was better when it was the only hospitality boss in town.
Others applauded it for taking a giant step into the brave, new world of competitive trading.
Today the trust bears little resemblance to its pre-deregulation past. Most of the establishments it owned back in the day are still there, some barely recognisable, but the names are the same.
Some establishments have been sold off, others leased out.
And then there are the new kids on the block – Speights Alehouse, Braided Rivers, the Somerset Grocer, Tinwald Motels and the reborn Somerset House.
In seven years the trust has had a string of chief executives, chief executives with the big ideas and the drive to turn those ideas into reality.
And it's had boards that have placed their faith and confidence in the men they employed to move the trust into the 21st century.
In seven years the trust has built an empire – and almost crippled itself in the process.
That was yesterday.
Today the trust has new plans.
Its big spending days are over, life is now about consolidation and turning a profit.
New enterprises are off, making what's there work is on.
It has a strategic plan that suggests what doesn't work won't stay the distance. Window dressing and frippery are out, cold, hard business logic is in.
Its first victim is its art collection.
The artworks have yet to be valued, but based on 2006 valuations, most have appreciated significantly in value since they became trust property.
No date has been set for the art auction, but it's tipped for a date within the next six months.
sells off its art collection. Reporter SUE NEWMAN takes a look at the what the trust's art investment and finds
out why its selling off the family silver.
Thousands of dollars worth of art works will go under the auctioneer's hammer later this year as the Ashburton Trust divests itself of surplus assets.
The works have been collected over more than 40 years, with purchases usually made at the Ashburton Society of Arts' annual exhibition.
Over the years the collection has grown to reach more than 170 items, most of which are hung in trust outlets and offices around the district.
But the days as a fine art collector are over for the trust. Its board is committed to maximising every dollar it owns and earns, driven by a need to reduce debt and ultimately, return more in grants to the trust's owner, the community.
Former trust president, Tony Todd, has had a hand in buying works of art for the trust for years.
He was a board member for 30 years and for most of that time was a member of the small art acquisitions committee.
The trust became a regular buyer of works of art when it started sponsoring the annual Ashburton Society of Arts awards. It opted to foot the bill for the winning artwork and part of the deal was it took that painting home to hang in one of its venues.
This practice continued for many years – until the price of the artwork began to exceed the prize money paid out by the trust.
For the artist this took the gloss off winning and the trust opted to pass up its purchase option and instead bought anything that took its fancy from the hundreds of art and craft works on display.
And that worked well, Tony said, with the trust acquiring a wide range of pieces, some bought with a venue in mind, others bought simply as an investment.
Often the trust would buy works by a local artist, seeing this as a way of recognising local talent and fostering local artists.
When the artworks go under the hammer, the wisdom of earlier trust board members when it came to spotting art that would appreciate in value, will be tested.
While he's happy to see the trust turn art into cash, Tony hopes some paintings will be retained, particularly for the reception and lounge areas in the Hotel Ashburton.
He might have had a hand in selecting a large part of the trust's collection in the past, but said he recognises that releasing cash is a much better business decision for today.
And that trust today is very different to the trust of the past. It's traded its comfy club past for a slick, business-focused future.
The trust's life is neatly divided into two phases – pre-deregulation and post-deregulation.
For most of its trading life, since its establishment in 1950, the trust traded in the most protected of environments.
For 54 years it traded as a monopoly. It owned all liquor outlets and for most of that time, all licensed dining establishments within its boundaries.
But in 2004 people decided they wanted the trust to trade in a competitive market, they wanted private enterprise to go head to head with the trust. They wanted choice.
Losing the competition poll forced the trust to change. What it had been doing for 54 years would no longer work for consumers who were demanding a taste of what was on offer up the road in Christchurch.
The trust was smart. It took a long, hard look at itself, realised it was living in the past.
It took to the new trading environment with gusto.
Some say it went too far too fast, that life was better when it was the only hospitality boss in town.
Others applauded it for taking a giant step into the brave, new world of competitive trading.
Today the trust bears little resemblance to its pre-deregulation past. Most of the establishments it owned back in the day are still there, some barely recognisable, but the names are the same.
Some establishments have been sold off, others leased out.
And then there are the new kids on the block – Speights Alehouse, Braided Rivers, the Somerset Grocer, Tinwald Motels and the reborn Somerset House.
In seven years the trust has had a string of chief executives, chief executives with the big ideas and the drive to turn those ideas into reality. And it's had boards that have placed their faith and confidence in the men they employed to move the trust into the 21st century.
In seven years the trust has built an empire – and almost crippled itself in the process.
That was yesterday.
Today the trust has new plans.
Its big spending days are over, life is now about consolidation and turning a profit.
New enterprises are off, making what's there work is on.
It has a strategic plan that suggests what doesn't work won't stay the distance. Window dressing and frippery are out, cold, hard business logic is in.
Its first victim is its art collection.
The artworks have yet to be valued, but based on 2006 valuations, most have appreciated significantly in value since they became trust property.
No date has been set for the art auction, but it's tipped for a date within the next six months.
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