Blackrock’s Fink Validates Art as an Asset Class

  
In a quote that is sure to add to the raging interest in Contemporary art, Blacktock’s CEO Larry Fink calls Contemporary art a great store of wealth:

“The two greatest stores of wealth internationally today is contemporary art….. and I don’t mean that as a joke, I mean that as a serious asset class,” said Fink. “And two, the other store of wealth today is apartments in Manhattan, apartments in Vancouver, in London.”

[…] “It’s become much more accessible for global families worldwide to store wealth outside their country,” said Fink. “And they don’t have to own gold.”

New York Apartments, Art Top Gold as Stores of Wealth, Says Fink (Bloomberg)