Ofer Levin, the investments strategist and renowned art collector, said on an interview given to ‘Globes’ that: “Historically speaking, the art market has maintained an upwards momentum, especially when comparing it to well-known financial instruments. Art might serve well as a means to reduce risk in times of temporary weakness in equities, bonds or any other financial instrument”.
He added: “The importance of patience, or in other words, holding investments in art for the long-term, is paramount. In the 1991 crisis, for example, the auction market plummeted more than 60%, and as a result, prices were impacted for a long time. In fact, it took more than a decade for sales to recover to their 1990 level. So, if you are considering investing in art always think long-term”.