Flipping Houses…oh no wait…Flipping Art as a New Financial Sport
So I am a bit behind on the take these days due to the hectic life that comes with 3 small children. My last blog was about how the art market doesn’t seem to be performing as well as last year, yet apparently some works of art by untested, novice artists are selling for huge price tags. Not only that, but prices are increasing at great percentages . A Lund painting recently sold for 1500% gain. Try doing that flipping a house!
Israel Lund's "Untitled" 2013 painting (Source: Christie’s via Bloomberg).
Flipping art has apparently become quiet the thing these days, as art collectors venture and seem to win. However, as some warn this is a sign of a financial bubble…so buyer beware.
In any case, take a look at this article…interesting read. And if you dare, perhaps try your hand at flipping art. Seems to do better than investments and it’s a lot more fun…