Art Flippers Chase Fresh Stars as Murillo’s Doodles Soar – I have always said that the Contemporary market is equivalent to stock market IPOs; there is always a chance that the one you pick will soar. I find it really interesting to see how a few of the artists go from the unknown to the ‘sold out’ overnight. The real question is: do they have the power to stay on top for the long run? It would be interesting to do a study and see how many do.
I am still a firm believer that you buy art for the enjoyment you get from owning it … not for the potential financial gain. There is nothing wrong with wanting to protect your money and if you buy right, in the long run, you should do well; however, buying a work today just so you can hopefully reap a big profit tomorrow is not what the art world has been about. Sadly, today certain segments of the Contemporary market are taking on a Las Vegas atmosphere.
This article from Bloomberg features a number of artists and their work. How many would you acquire if the only benefit you receive is the enjoyment you get from looking at it/them for the next 30 years?
Oscar Murillo
“Untitled (Drawings off the wall)”