REPOST: Could buying paintings make you rich?

Depending on the circumstances and on a number of factors, one can actually make immense money from art. Financial advisors, however, recommend exercising proper caution. Read more insights on BBC:

Online sites like Artfinder are enabling less well established artists to sell their works

It’s a fantasy akin to winning the lottery.

That painting you spotted in an antique shop for a tenner turns out to be worth thousands, or the ugly painting gifted to you by your grandmother and hidden in a cupboard ever since is actually worth a pile of money.

For one investor that dream has come true.

A painting of Christ believed to have been painted by Leonardo da Vinci has just sold for a record $450m (£341m).

Just under 60 years ago, the very same painting, then generally reckoned to be the work of a follower of Leonardo and not the work of Leonardo himself, sold at auction for a mere £45.

Even accounting for inflation that’s a pretty dramatic return on your investment.

So is investing in paintings a good way to get rich fast? And how should you invest in art?

Continue reading HERE.