Hedge Funds Have Modern Art Market up 55%

From today’s FT:

The annual art market research index produced by Hiscox, the art
insurer, shows that the value of contemporary art has risen by 55 per
cent over the past 12 months, an acceleration of the trend over the
past five years which has seen prices soar. But much of that price inflation has been fuelled by workers in the
financial services industry such as hedge fund managers, boosted by
high salaries and hefty bonuses.

Darn, I wish I would have kept the painting my 3-year-old did yesterday at his friend’s Jackson Pollock splatter-style birthday party.

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  1. Karthik says:

    Modern art? Isn’t that an oxymoron of sorts?
    YMMV and all that, of course.

  2. dub dub says:

    @Paul, I’d respectfully suggest you hold onto your kid’s art for non-financial reasons anyway ;)