🖼️Why people invest in art?

• Prestige: Art has been a way to showcase one's wealth. A perfect artifact that that is unique, made by a world-famous artist, and in certain scenarios considered a well-known creation, will offer the bidder quite the thrill once the hammer drops at auction. The feeling gets multiplied, with each addition of artifact to one's personal collection.

• Diversifying portfolio: Art has been the asset to have stood the test of time and escaped the grip of volatility of the ever-fluctuating market. With a low correlation with other classes, it is a unique investment, making it the investor's favorite way to diversify their portfolio.

• Glamorous lifestyle: In the past, The HNIs went shopping for fancy cars, or yachts to flaunt their wealth, but the trend is different now. Art has become a must-have item for the elite. When you're wealthy, you're more inclined to want to flaunt it, and art is a perfect way to do so.

• Secure their funds: Art could be used to hedge against a recession. People purchased art during times of uncertainties, such as during WWII and the Great Depression. With unstable economies and currencies that are subject to depreciation, the affluent frequently invest in art as a means of diversifying their risks.

• Tangible Investment: The tangible nature of art makes it more suitable as an investment. Although some people may have their valuable art pieces under tight security in the bank, most love to display them in their homes and offices for everyone to see. They enjoy looking at the art whenever they can, as art promotes serenity, peace, and introspection.

• High residual and historic value: Unlike stocks and bonds, which can lose their value in a short time, the value of art appreciates over time. People believe that art allows them to know the history of humanity and also understand other points of view.

• Cultural pride: Over the last 20 years, the quantity of highly-valued masterpieces from China and Africa has increased dramatically, notably among purchasers from these countries. This implies that when you are wealthy, it is natural to have an interest in acquiring art that makes you proud of where you came from and demonstrates love of your culture.