Why are people investing in art?
Published on 14 June 2012.
13 June 2012, Art Media Agency (AMA)
Despite the economic crisis, the art market does not stop breaking records. Since 2008, eleven of the twenty most expensive art purchases have taken place. Less than a week after the sale of Munch’s The Scream ($120m), Orange, Red, Yellow by Marc Rothko sold for $87m.
Several economists assert that art is not the best way to invest. Artwork resale can be extremely complicated because few artists keep the same value on the art market over the years. Moreover, the world of art is unpredictable, and valuing an artwork is not an easy task: it is subjective, although guiding criteria do exist. Sergey Skaterschikov published a report on art investment proving that no artwork purchased for $30m has ever consequently made a profit.
The Times of India concludes that wealthy people buy art to show off.
Ask how you can own this work by Dali.
888-888-3254 Ext. 204
Mention "Gala Looking at the Mediterranean" when you call.
Posts
