Owning art is better than money in the bank
For centuries, all over the world you will find people of means who have acquired fine art and other collectibles.
Who buys art? Sometimes the buyer is impulsively making a purchase of a painting or sculpture after falling in love with it. Other times the art purchase is a major acquisition and is quite deliberate following an extensive search for the perfect piece to compliment a carefully constructed collection.
Art can be for personal or business use. Increasingly, fine art is viewed by many as an alternative asset class for investment purposes. Though generally considered not really an illiquid asset, art and collectibles may provide portfolio diversification and, under certain economic conditions, may have the potential to outperform equities and other investments.
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