Quote:
Originally Posted by BareBacked
Were you able to sell it and make that 7%?
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Absolutely. I consistently purchase and resell. The art I collect ranges from $300-$5k, and much of the time, the return is 100% or more. I specialize in the street art market (Shepard Fairey, Banksy, etc), and purchase at source. Often times, a $45 print will resell for $200-$500+ (a $500 print, reselling for $1,000 to $2,000), etc.
Like I said though, I wouldn't recommend investing in art unless you have knowledge in the subject (places to purchase, how to resell, etc). Ebay works, but is not the best way to get the highest return after Paypal fees, ebay fees, etc.
The recessions helped with purchases, as art is a "luxury" item, and the prices on older work dropped significantly. With the improvement in the economy over the last few months, the price ascent has been swift.