Art as an Asset Class

Art : As good as Gold ? 

According to the report, more than R296 million changed hands for South African art at last year’s auctions – 11.5% lower than 2013 despite 6.9% more stock. The average price per piece is now R53 800 – 22% lower than the 2013 average, yet Herman remains positive about market growth.

“Oil paintings dominate art turnover by a long shot, but it is indeed declining.” Herman continues, as though we were discussing property or gold stocks: “On the other hand, however, sculpture has improved materially.“

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