Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Milchan: Art the Best Asset for 2010

January 4, 2010 by Marion Maneker

Forbes has an interview with Hollywood Billionaire Arnon Milchan who owns New Regency films. What’s interesting is not his plumping for the best art as an asset but his skepticism about gold, an asset that often responds to similar economic forces:

What’s the best asset to own in 2010?

Art. If you have triple-A art, I’ve never seen it really go down. Great art is the best thing to own. We’ve seen recently the art market picking up fast. The last Sotheby sale broke records.

Gold: buy, hold or sell?

Sell. We’ve gone through a huge crisis and gold has gone sky-high. At the end of the day, gold is a refuge–it’s not a positive currency. It’s a place you go when you’re scared. I don’t see gold as a player in a healthy economy. If you just bought it, I would say hold. But if you bought it five, 10 years ago, sell it.

Billionaire Predictions 2010: Arnon Milchan (Forbes)

More from Art Market Monitor

  • Boom and Bust of Contemporary Evening SalesBoom and Bust of Contemporary Evening Sales
  • Lynette Yiadom-Boakye Painting from Turner Prize Showcase to Be AuctionedLynette Yiadom-Boakye Painting from Turner Prize Showcase to Be Auctioned
  • Magritte is the New Picasso: London’s Winter Modern Auctions Sales AnalysisMagritte is the New Picasso: London’s Winter Modern Auctions Sales Analysis
  • Sotheby's Gets Another Debt DowngradeSotheby's Gets Another Debt Downgrade
  • Bouvier’s Greatest Deal Was Also His UndoingBouvier’s Greatest Deal Was Also His Undoing
  • Is the Kassay Frenzy Fading?Is the Kassay Frenzy Fading?

Filed Under: Collectors

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor