Yes, But Is It Art?
I have previously written about Art, the sustaining and preservation of fine art collections, the collecting of fine art and the difficulties surrounding art in inheritance situations. (See my website www.attorneybarbaradalvano.weebly.com for the article: The Art of Valuing Art)
According to recent research, it appears that the “culture” and purpose of art collecting has been changing over the years. *
In general, Millennial Generation attitudes often differ significantly from their parents’. (see my articles under the Millennials Category)
Older generations deemed art as something to be collected, enjoyed and eventually passed on to future generations via inheritance.
Younger generations are more likely to use art, not only as an investment, but also as loan collateral.
For each generation, art may have a different meaning and a different function. Even artists cannot agree on its purpose.
Art is not what you see, but what you make others see. -Edgar Degas
Any fool can paint a picture, but it takes a wise person to be able to sell it. – Samuel Butler
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* Reference: Wealth Mangement.com “Six characteristics of NexGen Art Collectors” by Evan Beard and Ramsay H. Slugg (June 27, 2016)