Performance art is coming in from the margins with a flood of prestigious exhibitions and museum initiatives that throw new light on a medium often seen as a relic of the 1970s.
There has definitely been an upwards momentum in the female American Abstract Expressionist’s market… “It’s certainly an area we would recommend clients to seriously consider,” said Michael Plummer.
The art world is relatively illiquid, and prices depend on several factors—lack of supply, changes in taste, new research, when a work was bought, how often it has appeared at market, condition, provenance, and, as Michael Plummer of Artvest Partners, says: “The most unpredictable factor of all—collector behaviour.”
“Many investors are looking for a pleasure that is not going to lose its value, unlike automobiles and yachts,” says Michael Plummer, co-founder of Artvest Partners, an independent art-finance consulting firm that advises a range of clients across the world on how to invest in art and helps them to negotiate the art market.
37.4% of European, and 31.1% of North American millionaires now view art as the most fruitful passion investment, according to the report. “This is a significant turning point in the perception of art as an asset class in western societies,” said Michael Plummer of Artvest Partners.