The pictured Basquiat painting of a skull recently sold at Sotheby’s for over $110 million. Looking at the incredibly high prices certain pieces may earn at auction, is it possible that planners and investors need to look at art as a viable investment option? Conservative investors tend to look at art collections like second homes or yacht-chartering businesses. Adam Lindemann, a prominent collector, advises that it is better to buy art for art’s sake. Lindemann explains that buying art is not like making investment decisions. Investing requires cold, objective analysis and purchasing art requires interest, patience, and hopefully, some passion.
See Art as an Investment Class? It’s Tricky, Trust and Wealth Management Marketing, May 31, 2017.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
