Wednesday, April 10, 2013

Art As a Billion-Dollar Asset Class

More than a score of philanthropists have made, or promised to make, gifts of $1 billion or more. Normally the gifts take the form of securities or cash. Leonard Lauder's $1.1-billion gift to The Metropolitan Museum of Art consists of art, including 33 Picassos and 17 Braques.

Will we be hearing a lot more about art as an asset class from Sotheby's and Christie's?

Picasso's "The Scallop Shell," 1912
The New York Times features a few highlights from Leonard Lauder's collection of cubist art here.

1 comment:

Jim Gust said...

I looked at the images from the Times. Granted, I have no art history background. But I just can't accept this cubism stuff as "art." It's fancy doodles, nothing more. I predict that in one hundred years, the conventional wisdom will be, "what the heck were they thinking?"