Art 'viewed as a serious investment'

A growing number of financial experts consider art to be an alternative investment worth considering.

This is according to the Guardian, which reported that although art investments may not offer the same level of growth as other categories such as wine and gold, they can still provide an attractive return.

Figures show that total sales of art at Christie’s auctions worldwide increased by 87 per cent between 2000 and 2008.

Commenting on investor sentiment towards art, Iain Tait of asset management firm London & Capital told the publication: ’Art offers a relatively attractive return with low volatility.

’There is a willingness to look at alternatives. There is a lot of cash on the sidelines waiting to be employed.’

However, the newspaper noted that one of the problems associated with art investment is that it is difficult to accurately measure value, as auction prices do not account for the pieces sold privately for undisclosed sums.

An article published in MoneyWeek earlier this year warned investors to be wary of the contemporary art market, describing it as ’very illiquid’ and ’utterly untransparent’.
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