Here is an excellent article on buying art, it makes a good case for owning something special.
2009 - June
"The paradigm has shifted. Less than a year ago, the wealthy [or seemingly rich] were in a feeding frenzy – scooping up contemporary art - at the most notable of galleries, art expos and auction houses in New York, Miami, Paris, London, Venice and beyond.
The value of the art work was highly inflated – boosted by the insatiable appetites of those who wanted to consume and who believed the spin… “you must own this.” The spin-meisters? Gallerists, curators & art "advisors" who had something to gain. Less-than-well-executed paintings, broken pottery, preserved wildlife, graffiti, cartoons - even excrement – was touted as “important,” as precious, as invaluable – and hundreds of thousands – if not several millions of dollars were spent. “Good” art seemed out of reach for all but the top echelon.
And the art purchased? Its value has plummeted [like most things]. It is possible it will never recover the value paid. The “investors” were sold not on quality, but on the buzz created by clever marketers.
So why buy art now? Because no one else is. Visual artists throughout the world have suffered the lingering drag of the economy. Hardly anyone is .... the rest of the article
Thanks to member Sandy Schimmel Gold