Unless one is particularly wealthy, with plenty of cash to lose, one should spend money on art to support the artist.
London, UK (PRWEB) January 28, 2013
Frank Quin of the investor’s portal iNVEZZ recently wrote a commentary on investing in art as a way of making profit. And while art may be universal, Quin’s commentary explains why art investments on the other hand definitely are not.
Mr Quin introduces investing in art by pointing out the obvious dilemma for the aspiring art investor – if a work of art has already acquired international appeal the chances are that its value “has gone stratospheric.” Whereas, if a work of art has few or no admirers, it‘s worth next to nothing as an investment.
Quin therefore notes that the key to investing in art is to have the knowledge and nous to pick future trends, as well as specific artists, before they enter the mainstream. He gives the example of musician Eric Clapton who recently sold a work by abstract German artist Gerhard Richter for £21.3 million, or ten times the price Clapton reportedly paid for the painting a decade ago.
Quin however puts this success story into perspective, pointing out that Gerhard Richter was already a well-known artist rather than an undiscovered talent, as evidenced by the £2 million reputedly paid by Eric Clapton for the painting. He then points out that while it is possible to acquire a work of art “for a fraction” of that amount, there is too much chance involved in picking which specific work or works of art to invest in. To illustrate his point, Quin compares choosing a work of art to picking a specific ping-pong ball out of a thousand virtually identical ping-pong balls.
In conclusion, Quin notes that unless one is particularly wealthy, with plenty of cash to lose, one should spend money on art to support the artist. The notions of investment and art, concludes Quin, constitute an oxymoron.
To learn more about iNVEZZ, join, contribute your own professional or amateur expertise on the investment areas of your interest or engage with other investors or experts, please visit http://www.iNVEZZ.com.