Why is it important to invest in art when economic analysts recommend to invest in gold, silver and other precious minerals, as a consequence of the economic recession generated by the pandemic and the oil crisis?
According to international press reports, United Nations chief Antonio Guterres said that the world faces the most serious crisis since World War II. (AFP, 2020). This important event was, for the art, the worst cultural genocide in human history. This genocide tried to destroy the history of one culture and admit the hegemony of other. At the same time, it was a crucial moment to consolidate the art market, as we knew it by the beginning of this year.
In addition, it was a moment when people were raising awareness to the importance of the art in their history, heritance, recognition, and identity, to the extent that some people risked their lives to protect art treasures. Also, there were many people who were dedicated to discover mystery’s generated by the theft of art collections at that time. Meanwhile European governments were willing to financed investigations related to those thefts.
But what happen at this point, in 2020, when the covid-19 has changed the entire world, not only in the health area, but at all points of view?
The economy as we knew it, has been transformed into a subsistence economy. Where the search for income is a priority, due to the necessity of liquidity to support the present obligations and to ensure the resources to survive.
Although it is important to ensure the immediate financial liquidity, there is an increasing opportunity of investment in the long run because of the actual crisis. Therefore, art, as an asset that valorizes itself, becomes a great option to invest in. The reason behind this is that history has demonstrated the importance of art in the development of the humanity.
That is why artist such as Goya, Picasso, Monet, Beethoven, Mozart, Gaudi, Bach, Miguel Angelo… are still fascinating us. This fascination is the one that lets an individual invest a large amount of resources, in order to preserve and own a piece of history known as art.
Edition and translation:
Camila Llano and Laura Llano.
Three pieces that express feelings, “The Explosion of the Universe in Alloy” by Gloria Llano (left)- “The Scream” by Edvard Munch (Top right)- “Early snow” by Zhang Daqian (bottom right).
AFP. (2020, April 1). Pandemia de coronavirus es la peor crisis desde la Segunda Guerra Mundial: ONU. El País. Retrieved from: https://www.elpais.com.co/mundo/pandemia-de-coronavirus-es-la-peor-crisis-desde-la-segunda-guerra-mundial-onu.html