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art is a good investment

Post #275 • May 12, 2004, 7:10 AM • 2 Comments

It doesn't matter whether this is true or not. If people think it's true, they'll buy more art. Spread the word, fellow artists: art is a good financial investment!

The inevitable democratization of the art market will spark a flow of new capital into the art economy, with exciting consequences not just for investors but also for the public. Creating a world in which the average investor owns shares of a Duchamp alongside shares of DuPont will reinvigorate interest in art history, appreciation, and sensibility. It will trigger deeper exploration of less-well-known artists from all periods, as well as more support for new talent, styles and mediums. Employment opportunities will blossom for those with superior abilities to understand and forecast the value of our cultural heritage.

(Fine print: Individual investor returns may vary.) Via ArtsJournal.

Comment

1.

No. 2

May 13, 2004, 2:16 AM

I would hope this to be a joke ...since:

Auction houses probably would eventually all close down, rendered redundant by the inevitable erection of the new Stock-Art Exchange - where, by the way, my broker would be working his Armani pants off his ass making absolutely sure that I get ownership of the two La Grande Jatte shares that I so desire, whilst doing his utmost to rid me of the last of my Martha Stuart stock (or whatever)...

Trend would end up dominating the art world completely (not just somewhat), and tagging along would be factors like: general market value, strong/weak dollar/yen/D-mark/(whatever), speculation, "business" merges, insider trading, etc.

Would anybody ever have reason to GO SEE ART in such a setup? Wouldn't the weekly newsletter from my broker advice me adequately on what to buy and what to sell? Why even bother leaving the house then?

PS if 50 people each own one share in Blue Nude - then who gets to hang it on their wall?


2.

Franklin

May 13, 2004, 4:35 AM

I'm not sure, maybe they could timeshare it... Or, that's what the museum would be for - a stockyard.

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