How to use Fine Arts to Store Wealth?

The recent uncertain economic conditions have created several challenges and difficulties for investors. With businesses running out of resources, many investors are looking for secure and long-term investments. Investors have been investing their money in exotic assets, ranging from rare and vintage coins to paintings by prestigious artists. The fine art market is the newest attraction for long term investors. Elite and experienced art collectors usually hold onto their art collections as stores of wealth. As most of the investors purchase art with the investment purpose, so they don’t look at the art as a decorative object. These artworks are nothing more than tangible assets and source to store the value.

The fine art market is continuously booming. Every next auction seems to be selling the most expensive art ever. When it comes to using fine arts to store wealth, we don’t usually talk about typical paintings and arts sold at a local store or wall art that you bought to match with the sofa. The fine art market consists of rare paintings and artworks by prestigious artists. Thousands of transactions are made to launder money across the countries, and regulatory authorities have no control over these deals. Most of these transactions are made through private sales instead of public auctions.

In the private deals, the investors have more control over the transactions, but the situation is different in the auctions; that’s why private sales are more trending. 72% of the fine art market investors bought the paintings and art pieces to pursue their passion. 54% of the rich investors said that financial gains were the biggest motives to purchase fine arts. Even if the market goes down, the fine market has greater resistance against the recession and the poorly performing markets.

Diversifying your investment portfolio with investment in the fine art market offers better investment opportunities. You can easily reduce the risks of loss by storing wealth in fine art pieces. Fine art marker has been one of the best-performing markets for several years. Investing in the fine art market does not require a lot of expertise or experience to make profitable decisions. But galleries and private sellers will try their best to rip you off if you are looking for a desirable painting. Building a portfolio with the fine art market investments may require you to seek help from experienced art investors. When art experts manage your investments, you can yield more return with your fine art market investments.

Investing in the fine art market may not be suitable for everyone, so don’t let the figures influence your decisions. Legit art purchase is not always guaranteed to appreciate in value, but market monopoly by the investors, money launderers, and money embezzlers is creating a secure atmosphere for the rich elite to store value with the fine art portfolio.…

Is the Fine Art Market a Scam?

There have always been suspicions and doubts about how the art market works. Some people call it a scam, and the system is manipulated to store money, and the prices are insanely high due to the monopoly of the big art galleries and elite collectors. The original worth of the paintings and the fine art pieces are kept hidden from the original buyers, and the galleries tend to offer different prices depending upon the financial status of the buyer.

Some art galleries only sell their fine art to the elite and rich buyers. The other side of the market is the manipulation of the fine art masterpieces to launder money. A create containing a $100 painting was captured at Kennedy International Airport, and upon the investigation, the art was found to be worth $8 million. Many other paintings have been used by money embezzlers to launder money into different countries. The authorities captured several artworks by prestigious artists.

The value of the art is not dependent upon the aesthetic value of the work but the price tag decided by the art galleries and the rich collectors. The fine art pieces are generally bought from the artists and then sold at insanely high prices by making the art desirable by the fine art market. Galleries are the forces behind setting the prices and the demand for the art work. These galleries are backed by rich elites, and the manipulation of prices may be illegal as per the state laws.

If the fine art marker is controlled by someone with financial interests behind the sale may create a worrisome situation. The price manipulation in any market creates shortage, distortion, and inefficiency. Even the legit fine art market generates tens of billions of dollars in the global market, and the estimation of the shady deals is beyond the expectations. The regulatory authorities are trying to stop the price manipulation, but there are no hard and fast rules to put stop these scams. Although the value of art is a matter of taste, the scams are obvious.

The biggest scam happens with the artists because galleries have strict control over the prices. The reputation of the fine art gallery is associated with the high prices, so if the art does not sell at a high price, the galleries won’t lower the price. Instead of lowering the price, fine art galleries tend to drop the artists. Lowering the prices will send a bad signal to the rest of the buyers. The same goes for auctions where the organizers raise the prices by planting their own men in the bidders. These hired men bid more to motivate others and to sell the art at an exceptionally higher rate. So, there is no doubt about the legitimacy of fine art, but expensive art galleries, money launderers, and elite buyers are the major players in the fine art market manipulation. The fine art market has now become a money-driven market that needs strict regulations and laws to stop the manipulation.…

3 Most Influential Modern Artists

Most influential modern artists have driven millions of art lovers to the museums and art galleries over the years. Their paintings have generated record sales in auctions and private sales, and they have been the center of attention in art debates. Some of these modern artists used technologies to harness the art market, and some adopted centuries-old techniques and methods to bring the old art back. The work of these artists reminded the art lovers of the true spiritual power of art and showed us the true power of solidarity.

Most Influential Modern Artists

The nods to the past have riddled the postmodern society. The list of most influential modern artists may vary for different sources depending upon personal interests. Here are the three most influential modern artists.

1. Kara Walker

The list of modern artists is incomplete with mentioning Kara’s contribution to the fine art market. You can find her artwork at Tate Modern’s Turbine Hall. Her way of expressing art is exceptional, and you can see her pushing to reach the most prescient modes of art. Her masterpiece features a 40-foot-tall fountain and takes the space of cavernous space. Kara Walker is labeled as one of the boldest and most ambitious artists of modern art. Most of the art lovers are comparing her recent work with the mommoth 2014 installation. There is nothing that Kara Walker cannot do.

2. Arthur Jafa

If you consider Venice Biennale as the Olympic event of the art world, Arthur Jafa is definitely going to win the gold medal. He has also been awarded the highest honor of Venice Biennale. The artist has a unique approach to modern art, and his work speaks for his ideas as he believes that there is nothing of right or wrong in the art but the expression of your relationship with the art.

3. Olafur Eliasson

Olafur Eliasson was appointed as the goodwill ambassador by the United Nations in the 2019 UN Climate Action Summit. His work is mostly inspired by the environment. His work is actually inspired by climate change, and his recent position has given insane exposure to his work. He has been pretty busy with new art events and exhibitions. He has also been featured in a Netflix series. His show is also generating more than 2500 daily visitors. If you are into modern art, you must give his work a try.…