Buy and Hold Has Been Great in the Art Market

Shutterstock photo
Buy and Hold Has Been Great in the Art Market

(New York)

The art market has done very well since the Financial Crisis. While it may have stalled a bit over the last couple of years, art became a truly investable asset in recent years. An anecdote from a recent auction shows just how prolific some returns have been. A recent Basquiat auction broke a record for US artists, with a single painting selling for $110.5m. The most interesting part about the sale is that the family who sold it bought it for only $19,000 in 1984. The work was auctioned as part of a feud between heirs to an estate.

FINSUM : Forget Amazon, is this an example of buy and hold or what? The trick of the art market has been that some niche works have seen huge gains, while other areas have seen no appreciation.

Source: Bloomberg

  • Art
  • basquiat
  • buy and hold
  • alternative assets

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , global macro events

More from FINSUM




Research Brokers before you trade

Want to trade FX?