Why do rich people like to play paintings?

Passion for art

Artistic expressions are the result of a person's thinking, norms, customs and traditions. Through art, one can gain a deep understanding of the different cultures, perspectives and civilizations that exist in a society.

Some wealthy people have a genuine love and passion for art. They are curious to learn about many aspects of culture through paintings and sculptures. Creativity motivates them and keeps them optimistic.

They enjoy the visual and cognitive presence of art, which helps them understand themselves and others deeply.

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Built heritage

Wealthy people often buy unique and expensive paintings to create a legacy for future generations. Imagine inheriting a classic masterpiece by a great artist like Leonardo Da Vinci or Vincent Van Gogh. Wouldn’t that be something to be proud of?

Art is a part of human culture and it is essential to pass on the value and significance of art from one generation to the next. Many wealthy people buy valuable paintings to preserve them for future generations and they cherish these ancient works and keep them safe. They have an emotional attachment to their art collections and want to preserve and restore them over the long term.

Add to the lavish lifestyle

For the wealthy, owning a valuable painting represents status and sophistication, just like luxury cars, watches and properties. A modern art painting or sculpture in one's home decor can express one's taste and self-worth.

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Owning a beautiful and unique painting brings immense joy to the rich. They see expensive and aesthetic works of art as a way to express their lavish lifestyle. So, this is why the rich often buy expensive works of art.

Improve the working environment

Such beautiful works of art will inspire creativity, spark imagination and enrich the working environment. It creates a good working atmosphere, brings great productivity and high energy.

Another reason why rich people spend millions of dollars on expensive paintings is because it improves their mood and broadens their horizons. When a person is surrounded by such an artistic atmosphere, it stimulates their mind and helps them solve problems better.

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Diversify your portfolio

Wealthy people often invest their money in various portfolios like stocks, mutual funds, real estate, etc. to get returns. Similarly, fine art can be a good investment.

The wealthy invest in art by purchasing it at auctions or from art galleries and museums. Investing in art can be risky, but if successful, its value can increase exponentially and the returns can be extremely high. However, one should always do due diligence before investing in a high-risk asset.

In 2017, Leonardo Da Vinci’s Salvator Mundi was sold for a record $450 million, making it the most expensive painting ever sold. Collectors from many countries were present to witness this historic moment.

Return on investment

According to a business research firm, the global art market is set to grow from $441.02 billion in 2022 to $579.52 billion in 2023, at a compound annual growth rate of 31.4%. In unstable economies , wealthy people often invest in art for high future returns and it is a significant opportunity for capital growth.

If someone buys a painting for $500 today, its value could increase 100 times in ten years. Similar funds grow many times over. Therefore, works of art have consistently delivered better and better returns over the past 50 years, proving that it is a profitable investment.

Charitable purposes

Some wealthy art collectors buy such expensive works for charitable purposes only. They buy beautiful, aesthetically pleasing works of art to donate to art galleries, cultural institutions and museums. They want to preserve and restore these art forms for future generations.

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T. Linh

Source: https://giadinhonline.vn/vi-sao-nha-giau-thich-choi-tranh-d198570.html