Updated: Nov 4, 2019
Why the Contemporary Art World Is Insufferable, Corrupted by the Super-Rich by Sola Agustsso (Perspective 1: Art collecting is an investment)
The article written by Mr. Agustsso clearly does express much of what we may know or think of when it comes to the world of art.
A look at Mr. Agustsso's analogy of the situation:
1. Art collecting is an investment.
Perspective: Yes. Art can be compared to the stock market, and artists both living or deceased are bought and traded as you would buying shares in Microsoft or Amazon. Let me share the net worth of 11 of the most successful artist:
Chuck Close - $25mil
Richard Prince - $30mil
David Hockney - $40mil
Gerhard Richter - $40mil
Antony Gormley - $50mil
Anish Kapoor - $85mil
Takashi Murakami - $100mil
Andrew Vicari - $142mil
David Choe - $200mil
Jeff Koons -$500mil
Damien Hirst $ 1 BILLION
If you think for one second these fortunes were amassed by selling work to the general public your delusional. These are just a few living artists--the wealth skyrockets when we allude to deceased artists.
So the Artist Stock Market - ASM is a market controlled by a very finite cluster of individuals, institutions, and corporations, new NPO's or NON-PUBLIC OFFERINGS of emerging artist looking to take their brand to the ASM--better realize that with the masses of art wanna-be's, and would-like-to-be's out there in the world; clamoring for attention of the super, and the super super, and the supper-supper-supper rich. Your chances to join the market is like trying to find A GRAIN OF SAND IN A HAYSTACK!
A tremendous amount of art already exists, and to be honest, a lot of it--isn't that good, or at best, might have minuscule to marginal success. The chances it will ever grace the eyes of the ELITE who control every bid, every transaction that occurs in the ASM is at best--a dream one should enjoy, and then face reality once they've awakened.
Art is an investment tool used to strengthen and diversify a portfolio. It differentiates those who have, from those who want--to those who'll never get?
If YOU RIGHT NOW! had $20,000 to spend. Would it be art you spent it on? Be truthful with yourself. The ANSWER is NO! Your frame of reference does not allow you to see a painting as a necessity to your survival, your needs, your habits, your addictions, your quirks--unless you already possess the disposable income where $20,000 has no impact on your survival.
LIE to yourself, you wouldn't be doing anything out of the ordinary--but telling yourself your planning on having an art collection of value--that wasn't from some yard sale, Target or Walmart store is the definition of your reality gone wrong.
There's nothing wrong in realizing that art is a created concept of real imagination, and vision--BUT those ideas, insights, and concepts are only going to be conceived by the artist of privilege and delivered by the DOCTOR of the RICH!
For this, Mr. Agustsso is valid in his assessment.