Personal Finance
Did Covid-19 Actually Affect the Art Market?
By ValueChampion  •  August 22, 2020
Out of all the ways you can invest your money, art is the most speculative one. While other forms of investment have at least a few metrics that help define its current value and future growth, the value of an artwork is based on a myriad of factors, ranging from the invisible hand of art galleries to pure consumer sentiment. Therefore, some art investors advise buying art based on sentimental value rather than investment potential. Because of this, it would seem that the art market would suffer during disastrous global events like the COVID-19 pandemic as discretionary and emotional purchases are put on hold. However, that might not be the case. Looking at auction data from Christie's and Sotheby's during the height of the pandemic along with 2020's global art market data we discovered just how much COVID-19 affected this multi-billion dollar market. Key Findings The Art...
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By ValueChampion
We distill sprawling marketplaces—for insurance, credit cards, bank accounts, and more—down to choices that represent a sweet spot for value—as in offering the features, returns, or experience we think you need for the smallest outlay. We ask: Is the return on a particular purchase or decision worth the cost or risk of that option, and how does the choice stack up against other options?
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