The Bells, the Bells!
"Sales of contemporary art at public auctions surpassed $2 billion for the first time last year, the Paris-based arts-data organization Artprice said."The report tallied auction sales between July 2013 and July 2014, and it found that contemporary art sales grew 40% from the previous year. The number of big-ticket items that sold for over 10 million Euro ($12.8 million) more than doubled in the period."Those who follow the art market will remember the record-breaking Christie's auction in November that saw buyers walk away with the most expensive publicly auctioned piece of art ever, Francis Bacon's $142.4 million Three Studies of Lucian Freud (1969). That auction also minted Jeff Koons' $58.4 million Balloon Dog (Orange) (1994-2000) as the most expensive piece by a living artist ever sold at auction..."
"The effort to make oil, gas and coal investments as unpopular as tobacco stocks...gathered momentum..." the paper declared.
"You don't have to worry about corruption...or politics...or sanctions," he says. "It's all in the price already."
- take advantage of mortgage deductions...
- lock in low interest rates for the long term...
- build equity...
- improve their credit scores.