Just wait. Same thing happened to Wacko Jacko. He auctioned his stuff after the whole kiddie scandal and no one wanted to touch them, not even for a pittance. Now he's dead all is forgotten, and how much would his stuff be worth now?
Russell Brand does a very nuanced deconstruction of fame and the consequences of criminality in his show Messiah Complex - viewable on YouTube - and he makes the point that at a certain point, fame and the money business erases all crimes, comparing Elvis and Michael Jackson in the same breath as Gary Glitter (from memory), but it could easily have been Jerry Lee Lewis or any of those pre 70s stars. It was a very different world back then, so perhaps best to stick to pre 70s rock and roll memorabillia and art.
I bought few paintings from everywhere I travelled, but my friend who owns a gallery once told me that they are always looking for some promising artist/painter. They are buying their pieces most especially those who won in local art competition. Those paintings that they bought 10 years after really appreciate ten-fold. They also host many local competition. He had been successful now a days owning a big gallery branches in the biz high streets, he was my classmate in high school and been together in art club of the school for 4 years. He always inviting me to invest my spare money on those art pieces. Well, i buy only for some purpose and afraid to put more.
I have dabbled in art. My biggest piece of advice is buy something you personally like to look at because if you cannot move it you could be staring at it for a while.
Unless you are buying a recognised or widely known up and comer, make sure you like it as CFP says, because you could be the only person who ever paid for it.
To me art is a bit like the fable about the emperors new clothes. I remember when the "great" Geoff Whitlam was prime minister in 1973 and authorized the purchase of an abstract called Blue Poles......I guess it is still hanging in Canberra. I saw it years ago and to me it looked like something my daughter did at kindy. I think about $6 mill was wasted on that rubbish.....
Yep, I remember seeing Blue Poles as a teenager and it left me with the impression that art was total BS. I just couldn't get my head around it and probably still can't (though I haven't really tried recently if I'm being honest) Value in art as an investment is so subjective it does not make sense to my logical, analytical brain. I'm sure that people make money from investing in art but those are probably the same people who could make money selling ice to eskimos.
I also think art is a perfect racket for money laundering, because it is so subjective art "purchases" at ANY inflated price can be used as cover for any kind of illegal transaction. I wonder if old Osama had any art collections next to his gold!? :lol:
There is a true story about an art teacher in New York who asks his first year students to write a critique on a 'Pollock' which they dutifully do, exploring the post modern concepts inherent in one's interpretation of colour and mayhem. The 'Pollock' is actually a closeup of his work apron. When Whitlam approved the Blue Poles purchase, they paid around $1.3mill. Current valuation is from 20-100 million. But that's like saying Italy has 500 million worth of Mona Lisa hanging on the wall. Roll on QE 5,6,7......
I have a few art pieces at home, though they say it's a good investment I would like to just stare at them when I go home after a long day at work
Yeah I have a few Picasso's to, some of those vinyl presses of mostly naked birds... I like em but would sell in another few years perhaps.
^^ Cool. Been buying for quite a few years now. Not a heap, no Picasso's and not sure if you could call it "investing", because we just buy what we like, but it is certainly enjoyable.
Ok, how does that work? Did the guy just produce so much stuff that Joe Average can afford one, or even a "handful" of Picasso's? How is that possible when others of his go for $100M?
Yes. Like I said, I don't own oils. Only his famous oils go for $miilions. There is a lot of other stuff available that doesn't cost as much. My small collection is made up of watercolour paintings, pencil drawings, pen drawings, and even a crayon drawing.
How do you know they are original? There is no way this is original for example: http://www.ebay.com.au/itm/Original...ed-Pablo-Picasso-COA-Cubist-era-/291907901981 Comes with a COA and all fancy talk, yeah right, that's got to be in the "I've got a bridge to sell you" category.
No different to coins I suppose - once you look at the stuff enough, there are red flags to non-genuine items - you just showed how easy it is to pick the rubbish from the genuine gear. Also, like coins, buy from reliable dealers or auction houses (not ebay ).
That might be ok to you, but what about when you go to sell it? Surely provenance is everything?, especially for something like a Picasso I can't seen to find a single one that has anything Picasso related. Got any links?
