There are major differences between investing and art collecting—ones that everyone used to understand before the prices of artworks became so astronomical. One is a passion, the other a means of earning a profit. Investors are advised to diversify their holdings in order to mitigate risk. Art collectors don’t buy a basket of artworks—a few Impressionist paintings, a couple of Old Masters, some Chinese scroll paintings, some contemporary sculptures—but concentrate on the type of art or few artists that appeal to them.
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