Financial Advice for Retirement, Social Security, IRAs and Estate Planning

The Difficulty Of Art Investing

October 8, 2018

I’ve often said that art and other collectibles aren’t investments. You shouldn’t buy them with the main goal of making a profit. Here’s a good example. A painting by the artist Banksy was auctioned, and then the painting automatically shredded itself within seconds after the auction concluded. Is it worthless now, or worth more?

The framed, stencil spray painting shows a girl reaching towards a heart-shaped balloon and had been the final piece sold, equalling Banksy’s previous auction record of £1.04 million.

However, in a twist to be expected from street art’s most subversive character, the canvas suddenly passed through a shredder installed in the frame.

Many in the crowd weren’t sure if the painting would be worthless after seemingly being destroyed but an art broker believes its value has now gone up.

 

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