{"id":9873,"date":"2017-12-07T16:42:22","date_gmt":"2017-12-07T21:42:22","guid":{"rendered":"http:\/\/artinsurancenow.com\/blog\/?p=9873"},"modified":"2018-04-13T16:53:47","modified_gmt":"2018-04-13T20:53:47","slug":"could-buying-art-make-you-rich","status":"publish","type":"post","link":"https:\/\/www.artinsurancenow.com\/blog\/could-buying-art-make-you-rich\/","title":{"rendered":"Could buying art make you rich?"},"content":{"rendered":"<p><strong>One man\u2019s trash is another man\u2019s treasure.<\/strong><\/p>\n<p>For one investor that dream came true. The painting \u2018Salvator Mundi\u2019 believed to be painted by Leonardo da Vinci purchased for \u00a345 just sold for $450 million. So, is investing in art a good way to get rich quick? And how should you proceed? \u201cwith extreme caution\u201d say financial advisors.<\/p>\n<p>While stories like the recent Leonardo da Vinci sale and endless Antiques Roadshow episodes make it seem very attractive to invest in paintings and objets d&#8217;art, such cases are relatively rare. What you get back is based on supply and demand and there are big movements upwards or downwards if particular works or artists come in or out of fashion.<\/p>\n<p>Attending a neighborhood garage sale or popping into a local thrift store can leave a lot to be desired. After sifting through dented furniture, chipped ceramics, and strange art, one is often left feeling that the presented merchandise is worthless. But if you are lucky enough, you may just find a diamond in the rough.<\/p>\n<p><strong>Some Top Garage Sale Finds:<\/strong><\/p>\n<ul>\n<li><strong>$3 for a Ceramic Bowl, Sold at Auction for $2.2 million<\/strong><\/li>\n<li><strong>Andy Warhol Sketch Purchased for $5, Valued at $2 Million<\/strong><\/li>\n<li><strong>50 Cents for a Painting worth $10,000<\/strong><\/li>\n<li><strong>Tiffany Mirror Purchased for $2, Valued at $25,000<\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_9877\" aria-describedby=\"caption-attachment-9877\" style=\"width: 594px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"9877\" data-permalink=\"https:\/\/www.artinsurancenow.com\/blog\/could-buying-art-make-you-rich\/thelastdavinci\/\" data-orig-file=\"https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2017\/12\/The-Last-DaVinci-Image.jpg?fit=1584%2C780&amp;ssl=1\" data-orig-size=\"1584,780\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The Last DaVinci Image\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2017\/12\/The-Last-DaVinci-Image.jpg?fit=300%2C148&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2017\/12\/The-Last-DaVinci-Image.jpg?fit=474%2C233&amp;ssl=1\" class=\"wp-image-9877\" src=\"https:\/\/i0.wp.com\/artinsurancenow.com\/blog\/wp-content\/uploads\/2017\/12\/TheLastDaVinci-300x148.jpg?resize=474%2C234\" alt=\"Photo of Salvator Mundi (Leonardo da Vinci)\" width=\"474\" height=\"234\" data-recalc-dims=\"1\" \/><figcaption id=\"caption-attachment-9877\" class=\"wp-caption-text\">Salvator Mundi (Leonardo da Vinci)<\/figcaption><\/figure>\n<p>The high sale price of the Leonardo painting was not typical, a recent academic study, based on examining data from 1.2 million auction house sales of paintings, drawings and prints, concluded that art appreciated in value by a modest 3.97% per year, in real US dollar terms, between 1957 and 2007.<\/p>\n<p>Given the current environment of low interest rates, that&#8217;s still a better return than many savings accounts will give you. Paintings are seen as attractive investments because it&#8217;s very clear what you&#8217;re buying. Part of this is driven by investors&#8217; desire for &#8220;real assets&#8221;.<\/p>\n<p>Many investors lost money in the financial crisis by investing in products they did not understand, they are turning back to things such as art. Wealthy clients spend an increasing part of their wealth on art and collectibles.<\/p>\n<p><strong>You don&#8217;t necessarily have to be super-wealthy to invest in art.<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"9878\" data-permalink=\"https:\/\/www.artinsurancenow.com\/blog\/could-buying-art-make-you-rich\/aaf-ain\/\" data-orig-file=\"https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2017\/12\/AAF-AIN.jpg?fit=960%2C742&amp;ssl=1\" data-orig-size=\"960,742\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.2&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;iPhone 6s Plus&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1490810212&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;4.15&quot;,&quot;iso&quot;:&quot;40&quot;,&quot;shutter_speed&quot;:&quot;0.066666666666667&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"AAF AIN\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2017\/12\/AAF-AIN.jpg?fit=300%2C232&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2017\/12\/AAF-AIN.jpg?fit=474%2C366&amp;ssl=1\" class=\"aligncenter wp-image-9878\" src=\"https:\/\/i0.wp.com\/artinsurancenow.com\/blog\/wp-content\/uploads\/2017\/12\/AAF-AIN-300x232.jpg?resize=474%2C367\" \"Photo of Affordable Art Fair NYC Spring 2017\" width=\"474\" height=\"367\" \/ \"Affordable Art Fair photo\"  alt=\"Affordable Art Fair photo\" title=\"Affordable Art Fair photo\" srcset=\"https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2017\/12\/AAF-AIN.jpg?resize=300%2C232&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2017\/12\/AAF-AIN.jpg?resize=768%2C594&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2017\/12\/AAF-AIN.jpg?w=960&amp;ssl=1 960w\" sizes=\"(max-width: 474px) 100vw, 474px\" data-recalc-dims=\"1\" \/>The<a href=\"http:\/\/www.artinsurancenow.com\"> ArtInsuranceNow.com<\/a> sponsored 2017 Spring Affordable Art Fair was an excellent example of great works of art that are accessible. \u00a0There are a growing number of art fairs and online marketplaces such as Artfinder aimed at buyers with a more modest budget.<\/p>\n<p>The Affordable Art Fair (AAF), which started out in London&#8217;s Battersea Park in 1999, now holds fairs in more than 10 cities around the world. But while it may be becoming more affordable, just don&#8217;t bet on becoming a millionaire yourself.<\/p>\n<p>With a keen eye and a lot of luck you may come across a valuable find but most art industry experts suggest that you buy a piece of art because you like it, not because you want to get rich. &#8220;If it goes up in value that should be just an added bonus.&#8221;<\/p>\n<p>Protect your valued finds by visiting us at <a href=\"http:\/\/www.artinsurancenow.com\">ArtInsuranceNow.com<\/a>, voted a 2017 <a title=\"\" href=\"http:\/\/www.insurancebusinessmag.com\/us\/rankings\/top-specialist-brokerages-2017\/art-insurance-now-61094.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">Top Broker<\/a> and listed as the \u201cCream of the crop\u201d in our respective area of Art Insurance by Insurance Business Magazine. We can help with all Art related insurance requirements. <a href=\"https:\/\/artinsurancenow.com\/#applications\">Apply here<\/a> or Contact William Fleischer CIC at 800.921.1008 to discuss your unique situation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One man\u2019s trash is another man\u2019s treasure. For one investor that dream came true. The painting \u2018Salvator Mundi\u2019 believed to be painted by Leonardo da Vinci purchased for \u00a345 just sold for $450 million. So, is investing in art a good way to get rich quick? And how should you proceed? \u201cwith extreme caution\u201d say &hellip; <a href=\"https:\/\/www.artinsurancenow.com\/blog\/could-buying-art-make-you-rich\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Could buying art make you rich?<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":9876,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"Could buying art make you rich?","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[25,71,22,23,8],"tags":[146,161],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Could buying art make you rich? - Protecting Art Nationwide | Art Insurance for Artists, Galleries &amp; Collectors from New York to California<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.artinsurancenow.com\/blog\/could-buying-art-make-you-rich\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Could buying art make you rich? - Protecting Art Nationwide | Art Insurance for Artists, Galleries &amp; Collectors from New York to California\" \/>\n<meta property=\"og:description\" content=\"One man\u2019s trash is another man\u2019s treasure. For one investor that dream came true. The painting \u2018Salvator Mundi\u2019 believed to be painted by Leonardo da Vinci purchased for \u00a345 just sold for $450 million. So, is investing in art a good way to get rich quick? And how should you proceed? \u201cwith extreme caution\u201d say &hellip; Continue reading Could buying art make you rich? &rarr;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.artinsurancenow.com\/blog\/could-buying-art-make-you-rich\/\" \/>\n<meta property=\"og:site_name\" content=\"Protecting Art Nationwide | Art Insurance for Artists, Galleries &amp; Collectors from New York to California\" \/>\n<meta property=\"article:published_time\" content=\"2017-12-07T21:42:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-04-13T20:53:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i1.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2017\/12\/Man-looking-at-fine-art-painting-at-antique-sale.jpg?fit=640%2C434&#038;ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"434\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"wfleischer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.artinsurancenow.com\/blog\/#website\",\"url\":\"https:\/\/www.artinsurancenow.com\/blog\/\",\"name\":\"Protecting Art Nationwide | Art Insurance for Artists, Galleries &amp; Collectors from New York to California\",\"description\":\"Protecting Art Nationwide | Art Insurance for Artists, Galleries &amp; Collectors in New York &amp; California\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.artinsurancenow.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-CA\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.artinsurancenow.com\/blog\/could-buying-art-make-you-rich\/#primaryimage\",\"inLanguage\":\"en-CA\",\"url\":\"https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2017\/12\/Man-looking-at-fine-art-painting-at-antique-sale.jpg?fit=640%2C434&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2017\/12\/Man-looking-at-fine-art-painting-at-antique-sale.jpg?fit=640%2C434&ssl=1\",\"width\":640,\"height\":434,\"caption\":\"Man looking at fine art painting at antique sale\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.artinsurancenow.com\/blog\/could-buying-art-make-you-rich\/#webpage\",\"url\":\"https:\/\/www.artinsurancenow.com\/blog\/could-buying-art-make-you-rich\/\",\"name\":\"Could buying art make you rich? 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The word \u201cArt\u201d originated from \u201cto arrange.\u201d Any human that arranges things that already exist in a new or different form. Art is a means by which individuals can express their technical and creative skills to communicate with the world. It\u2019s not just painting, music, writing, or\u2026","rel":"","context":"In &quot;Art Insurance&quot;","img":{"alt_text":"Art Gallery Image","src":"https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2014\/08\/Art-Gallery-Image.jpg?fit=640%2C389&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":97,"url":"https:\/\/www.artinsurancenow.com\/blog\/artist-can-insure-there-own-art\/","url_meta":{"origin":9873,"position":1},"title":"Artists can insure their own work","date":"March 15, 2012","format":false,"excerpt":"For the past few weeks, I have written Fine Art policies for Painters, sculptures, and photographers.\u00a0 The coverage is broad enough where the Art is covered in Transit, at the Gallery or Venue, and most important while it is in the studio. The value of the art is based on\u2026","rel":"","context":"In &quot;Artist Insurance&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":620,"url":"https:\/\/www.artinsurancenow.com\/blog\/american-airlines-involved-in-damage-art\/","url_meta":{"origin":9873,"position":2},"title":"What to ask Art Gallery\/Dealer before consigning your Art","date":"February 16, 2016","format":false,"excerpt":"Damage to Art happens more often than is reported. How\u00a0can you make sure you are covered? American Airlines, along with seven other art handling companies, is being sued for damage to a slash sculpture by Lucio Fontana. the damage work occurred\u00a0while it was\u00a0being shipped to the New York Armory Show.\u00a0\u00a0Lloyd\u2019s\u2026","rel":"","context":"In &quot;Art Collector&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":781,"url":"https:\/\/www.artinsurancenow.com\/blog\/david-bowies-art-collection-to-be-auctioned-how-would-a-collectors-policy-respond\/","url_meta":{"origin":9873,"position":3},"title":"David Bowie\u2019s Art Collection to be auctioned, how would a collectors policy respond?","date":"October 26, 2016","format":false,"excerpt":"Not just David Bowie\u2019s Estate sends work to the art auctions but individual collectors do also. The most popular conversations I have are collectors looking to insure their work while in transit to an auction house like Christie's, Sotheby\u2019s, de Pury, and Phillips house. Many times the auction house will\u2026","rel":"","context":"In &quot;Art Collector&quot;","img":{"alt_text":"LiveOnline Auction Image","src":"https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2016\/10\/LiveOnline-Auction-Image.jpg?fit=900%2C600&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":10821,"url":"https:\/\/www.artinsurancenow.com\/blog\/as-a-curator-do-you-buy-an-exhibition-or-art-dealer-policy\/","url_meta":{"origin":9873,"position":4},"title":"As a Curator, do you buy an Exhibition or Art Dealer policy?","date":"October 21, 2022","format":false,"excerpt":"Lately, I have been asked this question by curators that insure Art Exhibitions. There is silence when I ask if you are a curator or dealer. I feel it is essential to distinguish the difference. An Art Curator has many roles when mounting a show; What is the exhibition about?\u2026","rel":"","context":"In &quot;Art Insurance&quot;","img":{"alt_text":"Person adjusting art frame","src":"https:\/\/i0.wp.com\/www.artinsurancenow.com\/blog\/wp-content\/uploads\/2022\/10\/lefty-kasdaglis-50cZ1fIPGrI-unsplash-scaled.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":420,"url":"https:\/\/www.artinsurancenow.com\/blog\/use-ucc-filings-when-you-cosign-your-art-to-a-dealer\/","url_meta":{"origin":9873,"position":5},"title":"Use UCC filings when you Cosign your Art to a Dealer.","date":"June 29, 2015","format":false,"excerpt":"Recently, while I was discussing art with an attorney, UCC filings came up.\u00a0\u00a0 Usually, this is filed when you take out a business or personal loans and the lender to protect its collateral\u00a0files\u00a0the UCC with the state. It's an inexpensive file, which is used to notify the state you are\u2026","rel":"","context":"In &quot;Art Collector&quot;","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.artinsurancenow.com\/blog\/wp-json\/wp\/v2\/posts\/9873"}],"collection":[{"href":"https:\/\/www.artinsurancenow.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.artinsurancenow.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.artinsurancenow.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.artinsurancenow.com\/blog\/wp-json\/wp\/v2\/comments?post=9873"}],"version-history":[{"count":14,"href":"https:\/\/www.artinsurancenow.com\/blog\/wp-json\/wp\/v2\/posts\/9873\/revisions"}],"predecessor-version":[{"id":10072,"href":"https:\/\/www.artinsurancenow.com\/blog\/wp-json\/wp\/v2\/posts\/9873\/revisions\/10072"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.artinsurancenow.com\/blog\/wp-json\/wp\/v2\/media\/9876"}],"wp:attachment":[{"href":"https:\/\/www.artinsurancenow.com\/blog\/wp-json\/wp\/v2\/media?parent=9873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.artinsurancenow.com\/blog\/wp-json\/wp\/v2\/categories?post=9873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.artinsurancenow.com\/blog\/wp-json\/wp\/v2\/tags?post=9873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}