Can you guess the value of this 1976 work by Francis Bacon entitled Three Studies for Self-Portraits?
At the rate of which the price increased previously—almost 830%, the estimated value of these paintings is around $60 million. What’s more astonishing is that this painting was bought in 1999 for $3 million, a mere 5% of its current price estimate.There are many similar stories where artwork fetches spectacular returns on investment. As such, it is no surprise that an ever increasing number of people are entering the art world as investors and collectors. Art auction houses have witnessed the number of bidders increase by approximately 50% in the last decade.
Now wait a minute, if you are already envisioning yourself at the next art auction buying artwork, hold up!
Investing in art is a highly lucrative and stable investment prospect, but it is important to gain insight into the art investing