Money Flows To Art

According to New York University's Fine Art Index, investment art produces an average annualized compound return of 11 percent. There has been an increase in the number of high-net-worth individuals available to buy art - those with a $1 million or more in financial assets. The 'World Wealth Report' counted 2,272,000 in the United States and 7.6 million worldwide with 70,000 'ultra-high-net-worth individuals' - each with $30 million plus in financial assets. The wealth controlled by these individuals was approximately $28.8 trillion and is projected to $40.7 trillion by 2008. The biggest portion of that wealth was in stocks and bonds - but 30 percent was in alternative investments like property and art. For the full story - click the title Irish Art