«GOOD BUSINESS IS THE BEST ART»

Investors in contemporary art are facing having to pay more as prices have risen at their fastest pace in three years, according to the latest Arts and Antiques Quarter Two 2011 Market Survey from the Royal Instituion of Chartered Surveyors. Many invetors are buying affordable works for decorative rather than financial reasons and the price of contemporary art in the under £1,000 bracket rose considerably in the second quarter of 2011, it shows.Some 22% more chartered surveyors reported prices for these works rose rather than fell, the highest figure since the middle of 2008. It appears that buyers with an interest purely in the aesthetic value of contemporary pieces may be entering the market, which in recent times has been dominated by those acquiring works as a financial investment, says the RICS report.

Inveestmentinternational.com
July 26 2011