June 22, 2006
Art as investment
The old saying about art and antiques is to buy it because you love it. Yet there will always be those who think first in terms of investment, and this Slate article pushes the view that art can indeed be a good investment vehicle.
Tyler Cowen begs to differ -- and rightly so. As he correctly notes:
Studies of auction prices are usually biased toward the winners; the losers never go on the block again or are sold quietly at a loss through dealers.The other factor not mentioned is the unregulated nature of the art market. Art dealers routinely engage in practices that are strictly verboten when it comes to securities. This means that art can be a very good investment indeed for insiders, but much less so for everyone else.
Posted by David on June 22, 2006 5:37 PM
Tyler & vanrijngo are like two peas in a pod. You think Enron stinks,.. the art market make Enron look like a pesty mosquito. Damn,... it's to bad that Ken has died of a heart attack today,... A lot will be relieved by this fact. So many others were hoping he would serve most of his 165 years in prison he could have recieved, but I'd only guess that many others were more worried about the canary aspect of him doing time.
vanrijngo
Posted by: Bob--vanrijngo on July 5, 2006 1:06 PM
cronaca.com