From Rococo and Neoclassical to Abstract Expressionism and Minimalism, the world of fine art has a long history of innovation, with artists constantly exploring new ways to express their experiences and challenge our perceptions. Great art is without a doubt revolutionizing. Yet, very little of the world in which we see from moment to moment, every single day, gives credit to this art, and the innovative artists that created it. That's probably why art, up until recently, seemed like a hobby for the rich, instead of a brilliant investment reflecting ones business or personal ipseity.
Contrary to the massive changes in genres of art, the art market hasn't changed much at all, which more so follows the institution seeped in tradition. Concerning the art markets minimal if not slight innovations, advances in society such as technology and rising wealth in developing nations, have been reshaping the art market, bringing higher appraisals, a global surge of collectors, and shifting attitudes toward the very worth of art.
By utilizing art experts such as art appraisers, art brokers, and art consultants, collecting art has become one of the biggest booming investment strategies in the world- to date.
Take the United States, China, India, Russia and South America for example. The increase in interest is reflected in a significant rise in market prices over the past decade. While sales differ by collecting category or period, overall sales climbed from about $36 billion in 2005 to $68 billion in 2014. After a minor dip in 2015, they have been increasing exponentially in the last 2 years with record highs. And many of us have already seen the record high auctions sales, particularly for the recent Basquiat f