Record prices are being bid for art recently. Some are seeing art as an investment. That could be a good thing for artist right? Well maybe. You would think that all of this interest in buying art as an investment would raise the prices of art across the board, but what investors seem to be looking for is innovation. Japanese artist Kazuo Shiraga's “BB56”sold for $4.9 million was painted by the artist's feet as he suspended himself above the canvas by a rope. BB56 last sold in 2008 for $300,000 (the artist has since died). Thomas Wolfe in his book "The Painted Word" cited the fact that modern art is moving from the visual to theories of what art should be. Today, the trend could be toward who could be the most innovative. Will beauty be lost in the race to dollars?
In Miami, Art Basel (https://www.artbasel.com/miami-beach) will start on December 4th, let's see if they will break last year's record.
By the way, anyone interested in getting in on the ground floor of art investing my studio, both 'brick and mortar' and online is always open. :)
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