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global shift of wealth and art market

  • Category :
  • business and economics and toys
  • March 25th, 2006

    http://news.ft.com/cms/s/46eb5f3e-b968-11da-9d02-0000779e2340.html

    FT.com art and weekend has this article out on the art market. What’s interesting to see is how the global shift of wealth changes the art market. But this is unfortunate as the art market is primarily a rich people’s playground. I found a watch the other day that I’ve only heard about, the Glashutte caliber 60. Knowing it’s rareness and the potential of the brand (own by swatch group to rival Lange & Sohne), I would have pick it up for under 18. It was listed for 50. Nonetheless, this baby is going to appreciate in 10 years. So in this case, for for someone in the lower-middle class like me, art as an investment is out of my reach.
    If I am good and my jackpot rate is 1 in 5, putting your money in watches to generate a 10% annual return would take at least $500K, out of the reach for even a middle class American. One thing you could do is to wait for it to be popular enough for some mutual fund to be setup. But the point of investing in art is when they are NOT popular, not when they are popular. The rich always have it easy don’t they :)

    Entry Filed under: business and economics,toys

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