Art investors know one of the best-kept secrets to supporting the creative effort: A lifestyle that bursts with good health and energy.
The reason for this is, quite simply, collecting art motivates one to maintain a healthier lifestyle.
First of all, in a study conducted by the National Endowment for the Arts and the U.S. Bureau of Economic Analysis showed that the arts gave a tremendous boost to the U.S. economy, to the tune of a whopping $704.2 billion. This documented a 32.5 percent increase from 1998 – 2013.
If supporting the greater good isn’t motive enough, collectors can watch the market and wait for an artist to die. That’s a pretty common theory, but according to artbusiness.com, this is most effective if:
a) The artist has reached a level of fame and the work has been rendered valuable during his/her lifetime, or
b) The artist gets hit by a bus. The sudden death of an artist can cause the value of his/her work to spike, creating a shopping frenzy in what artbusiness described as, “Temporary insanity.”
To that end, the buyer must be motivated to stay healthy. If you are going to outlive me, you will be competing with excellent genes. Time is on my side. My grandmother from Sweden lived to be 104. My parents were both in their eighties. I normally do a lot of walking. I love green veggies, I don’t smoke, and I look both ways before I cross the street.
The lifespan thing does give me opportunity to amass a pretty good volume of work, and I can keep practicing and improving.
Maybe with a little luck, the fame thing will kick in. (I can only hold my breath for so long.)
Either way, I guess it’s a gamble. But if you like art, and just buy it because you enjoy it and want to support the economy (which should be the real motives, after all), it still behooves you to stay healthy.
I did get a paper cut today.