Investing in Art
Stocks, bonds, cash and other accounts are common places for individuals to allocate their investments. However, art can also be a viable investment option.
In 2013 alone, people from all over the world spent about $63 billion on art. Of those who bought art, 75 percent at least partially viewed the art as an investment opportunity. If you are considering investing in art, be sure you are aware of the factors that may influence your decision.
Collecting vs. Investing
Collecting is typically for show or display while pursuing a passion. With this, you buy what you personally like and don’t necessarily focus on the price tag. However, investing in art has a much different approach. Investors may not have a personal or emotional attachment to a piece. Instead, they will see the potential to make a profit.
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