Recent Quotes from the Financial World Concerning Art
"Paintings, cars, bottles of wine and other collectibles are being touted as safer and higher-yielding investments than financials". Robert Frank, The Wealth Report, The Wall Street Journal -September 26, 2008
"art is an asset class of its own. It is neither a real asset nor a financial asset. Art combines passion and investment. But under purely financial aspects as well, art is a genuine contender as part of any sophisticated asset planning. . . The zeitgeist and the search for alternatives to the classic forms of investment will ensure that art as an asset class will enjoy an unimagined upswing." Wolfgang Wilke, Vice-President, Dresdner Bank's Economics Department
"The art of collecting has turned into the science of investing. . . Art has now gone from being something you hang on the wall, that you collect, to being an annuity." Mitchell Moss, director of the Taub Urban Research Center at N.Y. University
"Collecting art can be one of the most enjoyable ways to spend money. An engaging work can provide its owner with a lifetime of visual pleasure-and then fetch cash! But investment in art should not be solely financially motivated! Buy what you love, because even though it might go through a transitory devaluation, the intrinsic value of the work will always be there!" Ioannis Evangelos C. Haramis, an investment advisor from www.GreekShares.com
"Art has been an attractive investment for centuries and is becoming increasingly recognized as it has outperformed more conservative investments over the last few decades. It is an alternative investment earning capital gains rather than a dividend. . . The art market has been in existence for a long time because of its returns - capital gain, pleasure and social status." Virginia Wilson, Art Consultant, Australia
Art is a tangible object which offers many people more peace-of-mind than securities, stocks and bonds. If the bottom falls out of the stock market, the money may be lost forever. A painting may diminish in value, but unless it is physically destroyed, it is probable the value will go back up. Art investing Versus the Stock Market, Linkroll.com
Illustrated is "I Love the World", an original serigraph by Peter Max. You can see more details at Max |