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my wife is in to art ... we have some collectibles but since we have no interest in ever selling them we don't even bother to put them on a net worth sheet ... as long as they are consumption items they really have little value to us as an investment.
she bought these pieces decades ago because she liked them . she had no idea ERTE would become a well know artist and be worth 10x what she paid. it is called THE MILLIONAIRES SUIT
You buy art when you have nothing else to spend your money on.
It's not an investment, it's the subtle way to say "I have so much money I buy stuff like this."
It's also a great vehicle for criminals to launder their money.
However, you can tell who is really wealthy and who is fake-wealthy by the quality of the art on their walls.
I always look at the art when some billionaire's home is featured in a magazine.
Trump brags about his Renoir, fake.
Steve Martin used to hang some of his personal art collection in his movies. Very distracting to me to see it so briefly.
I don't think he does it any more.
my wife is in to art ... we have some collectibles but since we have no interest in ever selling them we don't even bother to put them on a net worth sheet ... as long as they are consumption items they really have little value to us as an investment.
she bought these pieces decades ago because she liked them . she had no idea ERTE would become a well know artist and be worth 10x what she paid. it is called THE MILLIONAIRES SUIT
How do you insure them? Is it just a rider on your homeowner's policy?
What types of art work appreciate? How do I find appreciating artwork to buy?
Buy the art you like, under the assumption that it will never grow in value. There is no way to tell which artists working today are producing works which will become more valuable in the future.
Art, like collectibles, can vary drastically in value over the years as tastes change.
Buy the art you like, under the assumption that it will never grow in value. There is no way to tell which artists working today are producing works which will become more valuable in the future.
Art, like collectibles, can vary drastically in value over the years as tastes change.
Buy art you truly like- there are many high end art pieces that I personally wouldn't give you a $100.00 for and yet there are beautiful pieces around the $300- $400 range. On the higher end I really wouldn't mind having a Rothko.
30 years ago my wife bought the erte millionaires suite for i think 4k framed , it consists of two paintings ... erte was relatively unknown and she liked the pieces which were originals not signed reproductions which are a fraction of the prices . . .... who knew one day they would be actual collectibles .
With any investing, you are better off to understand the item you are investing in... unless you buy mutual funds and never look at them, and even then, you'll be better off you you understand what your investment company is doing.
To invest in art, you really need to deeply understand art and what makes one piece valuable and another piece, that might look the same, worth garage sale prices.
The art world is full of people trying to sell you something and what they are selling is not necessarily worth buying as an investment. This is not an area where you can turn your investing over to an advisor and let them do all the buying for you.
So, yes you can buy art as an investment, but it can be a very good place to lose a lot of money. The best investment pieces are already up in the millions so out of the reach of most of us.
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