
How the Art Market Thrives on Inequality - sytelus
https://www.nytimes.com/2012/06/03/magazine/how-the-art-market-thrives-on-inequality.html
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ChrisGranger
This article is from 2012. Does the claim that "no painting bought for $30
million or more has ever been resold at a profit" still hold true?

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sytelus
TLDR;

 _The art market, in other words, is a proxy for the fate of the superrich
themselves. Investors who believe that incomes and wealth will return to a
more equitable state should ignore art and put their money into investments
that grow alongside the overall economy, like telecoms and steel. For those
who believe that the very, very rich will continue to grow at a pace that
outstrips the rest of us, it seems like there’s no better investment than
art._

 _no painting bought for $30 million or more has ever been resold at a
profit._

