Investment in pieces of art increases in Italy: +45%

For centuries, art has been considered not only something that makes our lives and the halls of houses and mansions more beautiful, but also...

ROME (ITALY), Friday, November 29, 2019 (MERCURPRESS.COM) - For centuries, art has been considered not only something that makes our lives and the halls of houses and mansions more beautiful, but also a great way to invest your money. Lorenzo de' Medici, one of the greatest patrons of the Renaissance, already knew this in the 15th century, when he had his palace filled with works by great artists and, even today, this market continues to give its fruits. In the last 10 years, the sector has doubled in value, confirming itself as one of the most frenetic, to the point that art is no longer seen only as a passion, but as a way to make the most of their savings. Until recently, in fact, investors chose to buy art driven by their personal passion (40%), while today, more than half of "patrons" (65%) choose this field because it is considered similar to their personal interests, but with an increasing focus on the return on investment. Also on the side of the final purchaser, the perception of the value of the works has increased. 89% of buyers take this into account, while 11% simply choose according to their personal taste, following the search for beauty. It is estimated that in the last 4 years the investment in works of art has increased by 45% in terms of value.
It is, in fact, a profitable sector, which has the advantage of owning objects of inestimable beauty, but which, like all others, is not without risks. In addition to having to deal with global economic fluctuations, there is the risk of falling victim to scams and buying something of dubious origin, the value of which could have been inflated out of all proportion. Only in 2018, the Carabinieri of the Cultural Heritage Protection unit seized as many as 1,232 fakes, 953 of which were copies of works by modern and contemporary artists.
"Recognizing a forgery is not easy for those who do not have a particularly trained eye, while for those in the industry, there are revealing traits that make you understand the authenticity of the work. - Commented Jean-François Cazeau, a well-known French art dealer with a historic art gallery in Paris, in the Le Marais district, and a second one in Sanremo, opened about a year ago. - To avoid these problems, it is necessary to turn to qualified and competent professionals from different sectors of the market, such as art galleries, who bring their name and reputation into play in every transaction.
"Once this issue is addressed, the art market is a great way to make money. - Cazeau continues - For example, the value of Picasso's multiples, such as engravings and linocuts, grew by 200% between 2000 and 2015. When you buy works of art, you come into possession of a physical good, the price of which, as for all others, can vary depending on the global economic context, but which, even in the event of a general contraction of the markets, always finds a stable level of growth. Historical artists such as Picasso, Giacometti, Mirò, Matisse, etc., have recorded constant growth, with an average of 10% each year. As far as contemporary works of art are concerned, the issue is a bit more complex, since it is a market in which artists still work. The growth of the artist must be carefully monitored, according to precise criteria, which, therefore, require a lot of experience and specific knowledge.

Mercurpress International: Investment in pieces of art increases in Italy: +45%
Investment in pieces of art increases in Italy: +45%
Mercurpress International
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