Paulina
13 Oct 2024
Off-Topic / Arts and crafts [149]
Here's a long, thorough article explaining this phenomenon in detail:
myartbroker.com/investing/articles/why-do-billionaires-invest-in-art
Here's an important fragment, I think:
"To maximise the value of their art collections, billionaires employ various strategies and tactics, such as buying artworks by emerging artists, leveraging their influence to create demand for certain artists, and investing in art-related businesses.
One such tactic is to buy works by emerging artists with potential for growth in value. For example, billionaire hedge fund manager Steven A. Cohen invested in emerging artists such as Jean-Michel Basquiat and Jeff Koons, whose works have seen significant appreciation over time. Cohen was revealed to be the mystery buyer of Koons Rabbit selling for over half a billion dollars."
rich people often treat art as investment
Here's a long, thorough article explaining this phenomenon in detail:
myartbroker.com/investing/articles/why-do-billionaires-invest-in-art
Here's an important fragment, I think:
"To maximise the value of their art collections, billionaires employ various strategies and tactics, such as buying artworks by emerging artists, leveraging their influence to create demand for certain artists, and investing in art-related businesses.
One such tactic is to buy works by emerging artists with potential for growth in value. For example, billionaire hedge fund manager Steven A. Cohen invested in emerging artists such as Jean-Michel Basquiat and Jeff Koons, whose works have seen significant appreciation over time. Cohen was revealed to be the mystery buyer of Koons Rabbit selling for over half a billion dollars."
















