Why buy art -- there aren’t that many good reasons on the market these days. The main ones usually presented have discouraging downsides they drag along with them. Say the reason you want to buy art is to impress the in-laws, your social set, the gardner who peeks in the window. No matter what you put up your insurance adjuster brother-in-law will say something snide, moron, you can shake it off, but what if the nephew with glasses is laughing behind your back because there’s something wrong with Thomas Kinkade that you don’t know about? Substitute any other name, even Picasso, and the gnawing insecurity remains. It has to do with buying art to impress, and nothing to do with the art at all is what I’m suggesting.
Buying art for investment is a trip to Reno without the flashing lights and bells. Oh they proclaim on billboards how some tourist went home with fifty thousand, but on the sidewalk young couples weep uncontrollably. It’s like that. When some dealer drops his or her voice to just above a whisper, you’re in big trouble because you’re about to hear how this prodigy is on the verge of skyrocketing to the top dragging your paltry ‘seems-like-alot-now’ along. With enough documentation the client’s greed could eventually cloud their vision for this contrived mediocrity, no buybacks. It would be better to go to Reno and hear the news straight away.
Many people just collect, anything. On TV shows experts pronounce the current collector’s value for vintage pewter spoons, faded autographs, slightly chipped grandma vases from the attic. Everything older than a minute seems to plug into some unseen metering machine counting up the dollars of its ‘collector value’, even after its useful life is through, your very own mint-condition cream separator. They say this applies to art but that's demeaning. Collecting art would be like collecting anything else, always looking to trade up to more perceived market value and more fame no matter how acquired. It can be an exciting and expensive hobby, but not essentially different than a private mania for dime store ashtrays.
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