Art: A Recession-Proof Investment?

Is art a recession-proof investment?  We cannot help but note that in recent weeks, at least three newsworthy art purchases have been made:  In February 2012, it was reported that the oil-rich country of Qatar paid a record $250 million for the Paul Cezanne painting, “The Card Players,” a record price for any work of art.  In early May, a version of Edvard Munch’s “The Scream” sold for $119.9 million at a Sotheby’s auction.  On May 8, 2012, Mark Rothko’s 1961 painting “Orange, Red, Yellow” sold for $86.9 million at a Christie’s auction, representing a new record as the most expensive post-war artwork sold at auction.

“No matter what the economy is, the best investment is art. Which is the truth. Art is the only thing that always goes up in value and how people buy art instead of stock,” Diana Vachier comments.  Do you agree?  We may be onto something here.

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