Comments on: Art market datapoint of the day http://blogs.reuters.com/felix-salmon/2009/10/21/art-market-datapoint-of-the-day-3/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: An economist http://blogs.reuters.com/felix-salmon/2009/10/21/art-market-datapoint-of-the-day-3/comment-page-1/#comment-8377 Thu, 05 Nov 2009 14:16:14 +0000 http://blogs.reuters.com/felix-salmon/2009/10/21/art-market-datapoint-of-the-day-3/#comment-8377 I think you’re missing a few fundamental points. What if at the same time, and investor had chosen equities or property? Say, the bought shares in Heller Ehrman…they certainly wouldn’t be getting $1m back from that investment. I have worked as an economist in the art market for 15 years and in fact most art does appreciate in financial value. The problem with investment in the market is LIQUIDITY. This is a forced sale at a bad time for that sector of the art market.

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By: Chris Grayson - Art Director http://blogs.reuters.com/felix-salmon/2009/10/21/art-market-datapoint-of-the-day-3/comment-page-1/#comment-8163 Wed, 21 Oct 2009 21:27:15 +0000 http://blogs.reuters.com/felix-salmon/2009/10/21/art-market-datapoint-of-the-day-3/#comment-8163 I would only buy art on my own taste, and its value would be pegged on my appreciation. I don’t expect that I will ever be purchasing art at those prices and just as well — there are so many great artists producing great work — it’s where I’d rather spend my money.

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By: Bob_in_MA http://blogs.reuters.com/felix-salmon/2009/10/21/art-market-datapoint-of-the-day-3/comment-page-1/#comment-8157 Wed, 21 Oct 2009 20:54:28 +0000 http://blogs.reuters.com/felix-salmon/2009/10/21/art-market-datapoint-of-the-day-3/#comment-8157 I’ve bought a number of prints over the last few years, mostly old masters and Americans from the first half of the 20th century. I always bid low, and only for things I really want. I got a couple real buys at auctions last November and March, when a lot of people were pretty scared.

I figure they will probably always be worth close to what I pay for them, and if really bad inflation ensues, they will be something of a hedge. But mostly, I buy these to hang on walls and look at them every day.

Buying contemporary artists as an investment is probably pretty dicey. Tastes can be pretty capricious. Rembrandt was broke for half his life and at times bought his own prints just to keep prices from falling to nothing. Yet now his prints are some of the most valuable. Who knows what the trendy were buying in 1640?

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By: Donald A. Coffin http://blogs.reuters.com/felix-salmon/2009/10/21/art-market-datapoint-of-the-day-3/comment-page-1/#comment-8145 Wed, 21 Oct 2009 18:13:28 +0000 http://blogs.reuters.com/felix-salmon/2009/10/21/art-market-datapoint-of-the-day-3/#comment-8145 Which is why I have never bought art as an investment; I’ve bought it because I like looking at what I own. I get joy and contentment and inspiration from it. And I don’t worry about what it’s “worth.”

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By: Uncle Billy Cunctator http://blogs.reuters.com/felix-salmon/2009/10/21/art-market-datapoint-of-the-day-3/comment-page-1/#comment-8140 Wed, 21 Oct 2009 15:53:38 +0000 http://blogs.reuters.com/felix-salmon/2009/10/21/art-market-datapoint-of-the-day-3/#comment-8140 What is the commission that a broker or auction house makes on the sale of a painting? Do appraisers figure in the sales at all? I’m reminded of when, not so long ago, Candy and Candy bought a $10-$20M building in Los Angeles for $500M using the poor icelanders for financing. It’s all the artificial manipulation of value, and skimming. It depends on the “ratings agencies” in their various forms, and effective BS.

(The answer to yesterday’s question: “What does the “RT” mean in tweets?” Is, “re-tweet.”)

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