Fantastic little article on rich art collectors and a sort of speculation on why they purchase all of these strange and expensive art pieces.
Speaking of which, how did modern art get so expensive in the first place? Or was it always like this?
Great article. At times, I believe it has been like this. However, I don't think it usually is. I believe that this is a time where a lot of people have a lot of money, and the contemporary art community has built an experience for them.Speaking of which, how did modern art get so expensive in the first place? Or was it always like this?
kleinbl00, I recall that a while back you and some friends had put together a plan to capitalize on the speculative nature of the modern art world. Am I right? If so, how did it go? Also, a very interesting read Owl.
If I had I completely forgot. I run the other way - if there's no intrinsic value things are much too easy to manipulate through stampeding. The stock market is played by millions and still a few power brokers can splash things however they want. the art world? Forget it. You can't even look up a P/E ratio for art.
I think I confused the conversation with another. Anyways, I've continued my collection of artwork from local artists and it's very gratifying. I try to get a new piece for our home ever month or so. It makes such a big difference.