Recent big sales at art auctions have created some eye-popping headlines. Most notably Edvard Munch’s “The Scream” just sold for a record $119.9M at a Sotheby’s auction—making it the most expensive artwork ever sold at auction. Is art the next hot performing asset class? Can your hobby be turned into a successful investment? And if so, how can you measure the success associated with the effort to know whether your favorite hobby should remain just that? Before you dump your portfolio in search of the next Picasso or Warhol, dig into the data with us to determine the real risks and costs associated with holding art as an asset class.
