Wednesday, October 6, 2010

Is Art Recession-Proof?

Eight Forty-Eight - Is Art Recession-Proof?
"In 2002 after the troubles at Enron, Arthur Anderson turned their Chicago offices into a gallery and sold off some of their art collection. Their fine art investment proved profitable."

This report poses an interesting argument for investing in fine art. Click on the link and listen for yourself.
Peter and I asked a local gallery owner for her take this weekend and she laughed a boisterous laugh. Her words: buying emerging art is like buying a lottery ticket - you could get lucky but the chances of turning a profit in the future are slim. If you want a profitable return on your investment you must start by spending a large sum of money.
I for one would like to purchase a nice Modigliani.
If only I had about 5 to 8 million dollars.

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