Investing in art may surprise and delight you. Sometimes it’s fine art, but not necessarily what you might expect. Take for instance the $6.2 million that cryptocurrency entrepreneur Justin Sun spent in November for a 25-cent banana duct-taped to a wall, which he then ate. That’s a lot of money for a snack.
“There’s a long history of artists defining or ridiculing what is art,” says the art market analyst Michael Moses, who co-created the Sotheby’s Mei-Moses art index. “When you have an enormous amount of money it doesn’t matter anymore.” He was one of just a few uber-wealthy buyers who splurged big on fine art last fall.
