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Art is an investment and if it's worth $1 million now, it's guaranteed to be worth a lot more in 10 years. If you know that for sure I have some crypto currenc
by CaptainZapp 8y ago
Art is an investment and if it's worth $1 million now, it's guaranteed to be worth a lot more in 10 years.
If you know that for sure I have some crypto currencies to sell to you. Guaranteed to make you a mint in 10 years.
Sarcasm aside. You're statement is bullshit. While it's possible that art apreciates significantly it's also very possible that a piece of art depreciates in value massively.
Usually this has very much to do with an artist falling out of fashion. Suddenly the prices for his works are only 1/3rd what they used to be.
If you want to read up on a more knowledgeable opinion I provide a link.[1]
Money quote :
Certainly, it [art] can. A couple of decades ago, a Rand Corp. study estimated that only 1/2 of 1% of all paintings being sold at that time ever resold for more money than they had originally sold for.
[1] https://www.quora.com/Can-a-fine-art-painting-lose-value https://www.quora.com/Can-a-fine-art-painting-lose-value
edit : change of a redundant word + parts of my comment ended up in the quote