Art is becoming a commodity

D

deepakraam

Deepak Narayanan
Recently, the money flowing into the art is increasing rapidly.It is nt the same as it was earlier.Ppl are buying art to decorate their homes.But the money involved in the art also makes it as an investment.Ppl who buy the art in an exhibition are preserving it for sometime and selling it in another exhibition thereby making a huge profit.The money involved in this transaction is very huge.Ppl are even selling it thru online auction like E-Bay.So art is becoming more like a commodity.

Wat do you think?

-Deepak.
 
Yes. There has been sudden appreciation in the prices of art works. But now with the fall in the global equity markets and the current recession, the speculators in art have also withdrawn in fear and art prices have fallen by nearly 30-40%. This has brought back the sanctity to the art market.
 
While good art is rare, that is not the reason it is expensive. Good art is expensive because the artist knows he can get the price they ask. Any struggling artist's painting will sell for much less than a big famous artist's, because the famous one will be able to get the asking price. The sale of art is just a microcosm of capitolism as a whole.
 
I agree to Dimple's point of view partially. Good art is not rare. There are good artists who come up with good art but then the art doesn't have a backing of an established brand name just because the artists are the struggling artists. For ex any art by MF hussain is backed by his own brand name which makes it a pricey affair. Coming to the main point of discussion though, yes at one time art as an investment option reached to its heights and was seen as fruitful way of earning huge bucks. It is still on but the economy slowdown has had an impact which has made this activity a infrequent phenomena and the one catering to a very niche segment....
 
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