It wasn’t very long ago when a million dollar painting was hard to find. These days, you don’t have to be one of the Masters to sell art for over a million dollars. According to this article by Ernest Beck, contemporary artists’ paintings are going for millions of dollars.
Just like every boom, The Art boom can’t go on forever. With the economy on a downward turn, art prices are likely to come down. Art Collectors shouldn’t worry, a dip in prices will only get you that much closer to owning that masterpiece that you’ve had your eye on.
Smart investors will keep up with artwork appraisals to see where the market is going. Prices have been known to rise and fall, but the best thing about art is no matter what the price the beauty remains the same.
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