Hello r/investing!
I have a close friend who is rising quickly in the art world. He has a feature coming out in a globally renowned ‘taste maker’ magazine, and he just signed on to sell at a well-known gallery in one of the wealthiest and most well known shopping districts in the US (they also sell works by Picasso, Dali, etc, but I’m not allowed to disclose more info!). I have an opportunity to get one of his medium sized works for under $1000, but he told me that the price for his pieces is going to go up by ~4x once they’re represented by the gallery since they’ll be setting the prices and have already given him an estimated selling price.
I don’t know much about investing in art, so I was wondering if there is anyone out there who is familiar with investing in this asset class. I don’t know what to look for/how to trend forecast that well in the art world, so I would love advice about what I should be focusing on.
I do a bit of seed round venture investing, so I have been thinking about this opportunity in the same way - a high risk, long-term play that bets on the success of his brand. Would be sweet to have a painting a appreciate a lot, but I also just like the painting.
Any advice is appreciated!
Submitted July 13, 2021 at 06:04PM by jonjopop https://ift.tt/3B0cZsf
