Saturday, January 25, 2014

Investors drawn to ArtPalmBeach | www.mypalmbeachpost.com

Friday through Sunday this weekend the Palm Beach County convention center will be the site of ArtPalmBeach. This is an assemblage of pricey art, mostly contemporary, which will attract many "island" buyers. It is being said Lake Worth's LULA program, Palm Beach may be where the expensive art is sold, but Lake Worth can be where that art is made. And now we have the zoning in place to encourage that effort. Art is a vastly unregulated market, as Bruce Helander reminds us in the article. Click title for link.
“It is highly secretive,” Helander said. “It is the most unregulated commodity in the world. These are primarily objects of cotton canvas with some wood frame around it that magically turn into millions of dollars.”
The more valuable the item, the cagier dealers are about revealing prices. Asked about a Marc Chagall oil painting and a Paul Klee watercolor on display at ArtPalmBeach, Howard Brassner, owner of ArtLink International in Lake Worth, would say only that the price tags “are approaching $1 million” apiece.