Spending millions on art: money waste or wise investment?
Norman 29 November, 2007, 19:09
Value in art is a personal choice. For an individual collector it's a personal issue. For a national museum, it's often a matter of national pride or reputation, like the church bells recently returned to Russia by a major American university. Russian culture should be maintained!
Art is an everlasting investment.
As long as there are people with sensibilities and a craving for the better things in life and as long as they not replaced by robots and cyborgs, paintings, sculpture, pottery, carvings at all will continue to rise in value and respect.
Therefore, a Rembrambt or a Van Gogh will be ever the most cherished and sought after.
Therefore spending on art (The good ones) is the BEST INVESTMENT!!
As technology grows, I believe the value of something that is created from hand in such a simple matter as from a hand with a brush onto a piece of canvas will continue to rise.
There is a lot of junk art out there who's sole purpose is to make money. True art will always be cherished.
Buying art as a financial investment is little different to buying a house or a stock or anything else. We don't know the future monetary value of anything really. If we look at the museums of the world it would seem that art has tremendous cultural value. If we look at the High Streets maybe not so much!
it's basically a decent foil. most of the art purchases are to evade taxes and to make some clean notes..why evade tax when you can set up business in Dubai, where there is no tax at all. You can easily use the city as a port of transfer for imports and exports to Asia, Africa and Europe.. bytheway, you can contact me if you need a tourist or business visit visa to UAE..it's a fun place to see.
