From Picasso to Basquiat: A look into the Lucrative World of Art Investment
Investing in art may be a profitable and interesting endeavor for individuals who enjoy the arts. The art market has witnessed substantial development in recent years, with several works of art commanding record-breaking amounts at auctions. Here are some interesting statistics and figures regarding investing in art that you might find interesting:
The art market has expanded steadily during the last decade. According to the 2021 Art Basel and UBS Global Art Market Report, the global art market was worth $50.1 billion in 2020, a 1.9% increase over the previous year.
Art may be an excellent long-term investment. According to the Knight Frank Luxury Investing Index, art has beaten the S&P 500 by a wide margin over the last 25 years.
Works by famous painters such as Pablo Picasso and Vincent van Gogh have sold for millions of dollars. A Picasso artwork sold for $115 million at auction in 2019, while a Van Gogh picture went for $81 million.
Art may act as an inflation hedge. At times of economic uncertainty, investors frequently turn to physical assets such as art, which have a long history of holding their value.
The value of art can rise quickly. A painting by Jean-Michel Basquiat sold for $110.5 million in 2017, breaking the artist's previous record and becoming the highest-selling American artist at auction.
There are several methods to invest in art, ranging from purchasing individual works to investing in art funds and exchange-traded funds (ETFs) that specialize in the art market.
Art collecting may be a very personal and fulfilling experience. Buying art allows you to appreciate and enjoy the pieces' beauty and cultural importance while also earning from their investment possibilities.
Collecting art can also be a personal and rewarding experience. Owning art allows you to appreciate and enjoy the beauty and cultural significance of the pieces while also potentially profiting from their investment potential.
The art market provides investors with several options to profit from this historically successful asset class because of its constant growth, potential for long-term profits, and propensity to rise swiftly. Art may be a great complement to your investing plan, whether you are an art collector or an investor trying to diversify your portfolio. Schedule a free consultation to learn more!
