Artist and the Art
There are stocks, there is real estate, there is gold and then there is art. For quite a while now, investments are going beyond the perceived norms. Nowadays buying an art works seems to be a byword in the world of investment. But is it really so, is the moot question one must answer. Sure, you regularly hear of people paying obscene amounts for a work of art by a famed artist. But what are the chances that it will appreciate further or yield great returns? Well, most buyers pick an artwork so that they can display it in the confines of their house or for the satisfaction of owning a great piece. But unlike stocks, you can’t just press a button when you want to sell it. If you are a seller, you need a buyer too. Whether a miniature or monoliths, it is far less liquid if you want to divest. Nobody likes to see their investment decline over time. It is, at most, a great portfolio diversifier. Data shows that art does perform well over time just like stocks.
A great irony of the art world is that the artist seldom benefits from his works in his lifetime. The price of his creation reaches phenomenal heights only after his time on this earth has passed. Art appreciates over time. Often the artist lives an improvised life, his passion being the only driving force while he tirelessly creates work after work. Seldom is he recognized or appreciated in his lifetime. No doubt there are exceptions that attain the pinnacle of stardom in their lifetime but such cases are extremely far and few in between. More often than not, it is the speculator who reaps a fortune.
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