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RE: Changing Your Betting Mindset
I'm not much of a traditional gambler, but I do like to invest in art by up and coming artists when I can, as a speculative investment. Worst case, I own art I like that isn't worth more than I paid for it. I do look a lot at whose art I invest in though, and I invest in the WHO part of who could win as much as the art they make. lol
That sounds like a really smart approach without much downside. I don't have a very good eye for art though unfortunately, or I would seriously consider it as another alternative investment.
It's weird I didn't either, but then I saw an article about an up and coming artist whose work I really liked. That was the first sign it was a decent investment - there was an article about him in the paper lol After I bought the first piece I decided to look into the art world a bit more. It felt good to support him, and to get to meet him when I picked up the painting, so I wanted to buy more of his art, but, I wanted to educate myself too. I found style and dedication are the 2 main factors in artists work becoming known. Having a unique style or 2, and producing lots of work over a long period of time. I actually only became an artist myself quite a few years after I started collecting art, and what I learned in that time helped prepare me and shape the path of my own art career.
It is interesting the comments you make about art and its investment because I guess art as a discipline is a bit different from art as a business. The definition of art (and its often subject nature at least in contemporary art) makes it difficult to put a value on the work. What I do agree with is investing in the WHO and not so much the WHAT because the return on investment on a person is worth much more than the value of the work that they produce.
Art as an investment is also in some ways like crypto - get in with the right artist at the right time,you can make a lot of % profit by holding a few years. I've even had offers directly from some of the artists I collect to buy their art back for 2-3x what I paid for it just because they sold it to me "too cheap" early in their careers. But, I'll hold another 10-20+ years lol
With so many great artists on Steemit already, do you see any potential as an artrepreneur of a blockchain based market place for people here to buy and sell artworks? There has been discussions about it on steemgigs and I would love to see it happen!
I wouldn't have time to run it myself, but I think it's a great idea. Explaining to artists how to turn the $ into fiat, or ideally building that service into the platform, would be the most important part of the equation, if that can be made easy, then I guarantee artists would flock there. Crypto is great, but, it can be hard to explain and lots of people still have this idea it's for dark web drug deals etc...
If you market them well you'll never lose because it's not even betting.