Is the real estate bubble about to burst?

I tend to agree with Michael that there is a difference between "Memorabilia" vs. "Art"....

However, I do think that certain pieces of art have cultural significance, and will retain and increase their value due to that. But - I ain't no expert!

I did re-read J. Paul Getty's essay on buying fine art (and using art as an investment) in his book, "How to Be Rich". My memory was right - he essentially bought many pieces of priceless art - often for lower than their owners paid for it - during the depression. These subsequently went up in value, many times what he paid for them.... Many of these art pieces he later donated to museums.

The main drawback of art as an investment, it seems to me, is that you have to be willing to wait. It can take time for the value of art to appreciate. Also, it helps to be rich already to even be "in the market" for many pieces of fine art.

- Dien Rice