Today's Wall Street Journal (Aug 19-20 Weekend Edition), says there is an increasing trend among wealth managers to advise on art along wth stocks.
"Wealth managers are getting bullish on art," the article says, and are beefing up services and in-house resources to help clients naviagte the art market. Such services are not just available to the ultra-rich. "Plenty of art moves at prices less then $10,000," says the report.
"The heightened appreciation for art as an investment is driven largely by rising prices at auctions," the paper reports. "Art can reduce rick in a client's portfolio, as research shows it has a low correlation with stocks and bonds....(referred to) as the 'second beauty' of art."
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