Art, other than collectors’ stuff. More and more experts recommend investing in paintings
Art is no longer just “stuff” for collectors. According to the survey “Index for fine Art” by Artnet, investment purchases of works by great artists are increasingly frequent. Today, in fact, between high rates and geopolitical tensions that are not at all reassuring, owning a beautiful painting can represent economic security. Above all, obviously, if they are high-level works, such as the most expensive and representative ones of the life of the great Masters.
Thus, investing in the art market can prove to be a real trump card for diversifying your asset portfolio. Not surprisingly, if for collectors the emotional value remains the key factor for the purchase of works of art (60% say so), for the first time in 12 years 41% of the sample declared a Deloitte that the financial value it is his primary motivation.
Various asset managers also bear witness to this trend. Again according to the investigation by DeloitteIn fact, 60% of these experts recommend investing in works of art. Suffice it to say that the trend is truly growing rapidly, as in 2021 only 50% supported this thesis. However, those who also share this strategy are family office (62% in 2024 versus 39% in 2021).
As he writes Courierincorporating clients’ passions into the management of their assets is a very effective method for creating a relationship of trust.
But not just paintings and sculptures. Luxury goes hand in hand with art, even if it can now be considered a single whole within the most prestigious auctions. Precious watches, sparkling jewels, fine winesexclusive design and iconic bags dominate the dreams of the wealthiest.
These “Passion Assets“, easy to evaluate and less subject to market fluctuations, become the object of desire of expert collectors, but also of novices. An investment that takes on an increasingly secure tone, but also an expression of style and passion, a way to own a piece of history and beauty that lasts over time within the walls of your home.
Some significant data in this sense: Phillips recorded everything sold in online watch auctions in 2023 and a growth of +45% for Design auctions; Christie’s awarded the diamond The Bleu Royala 17.61-carat stone, the largest blue diamond ever sold at auction, for $44 million; Sotheby’s instead he gave up one Ferrari 250 GTO from 1962 for 51.7 million dollars.
Thus, art, which has always been a refuge for the soul, is transformed into a universe of financial opportunities, going far beyond traditional painting. How hedge funds once revolutionized the world of investmentsinvest in today art opens up new scenarios, where passion and profit intertwine.
Buying a work is no longer just a question of taste, but one strategic choice, a way to diversify your portfolio and, why not, dream of a more prosperous future. Art becomes a means to improve the quality of our life, offering an experience that goes beyond the mere possession of an object.
The art market turns out to be a fascinating window onto the future, where the search for beauty merges with the search for profit. A future in which the artin all its forms, could become the key to all-round well-being.
The ten most expensive paintings sold in 2023
Of course, to invest it is not necessary to come up with enough money to buy a building. However, it is interesting to note how, in 2023, in a ranking of ten works, the “black shirt” of the ranking – a Picasso from 1934 – was paid over 42 million euros.
1) Pablo PicassoFemme à la montre – 139 million dollars
2) Gustav KlimtDame mit facher (lady with fan) – 108.4 million
3) Claude Monet (1940-1926), Le bassin aux ninphéas – 74 million dollars
4) Jean-Michel Basquiat (1960-1988), El gran espectaculo – 67.1 million dollars
5) Gustav Klimt (1862-1918), Insel im attersee, 1901/1902 – $53.1 million
6) Francis Bacon (1909-1992), Figures in movement, 1976 – $52.1 million
7) Mark Rothko (1903-1970), Untitled (yellow, orange, yellow, light orange), 1955, $46.4 million
8) Richard Diebenkorn (1922-1993), Recollection to a visit to Leningrad, 1965 – $46.4 million
9) Henri Rousseau (1844-1910), Les flamants, 1910 – 43.5 million dollars
10) Pablo Picasso (1881-1973), Femme endormie, 1934 – $42.9 million
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