What's It Costs to Own Art

The Wall Street Journal wants to remind you that buying art is only the beginning of the party:

The cost of managing an art collection can vary widely but could add up to between 1% and 5% of the value of the works annually – depending on whether you are talking about a single work of art or an entire collection, according to Annelien Bruins, founder of London-based Bruins Private Collections Consultancy. If you are making regular purchases and therefore have to take into account transaction costs and taxes, then costs can rise to 15% of the value of the collection, says Ms. Bruins.

After that there’s a lot of other small expenses which the Journal is happy to itemize.

The Hidden Costs of Owning Art (Wall Street Journal)