Approximately one-third of young people (18-34) have decided purchasing art is more worthwhile than leaving their money in low-interest savings accounts. While this art is considered “affordable,” pieces can still reach prices of a few thousand dollars. A survey by Direct Line estimates that people in this age range have spent nearly $3 million on art in the past year and approximately 15% believe the works are assets that will appreciate in value. While the price of an artwork is never guaranteed to increase, it is nice to see the younger generation embracing the arts and supporting up-and-coming artists.
The Affordable Art Fair took place in Hampstead, London this past weekend and will be in New York City (The Tunnel, Chelsea) from October 3-6. (Click Here for more info)
