Sunday, August 1, 2010
Good news for Aussie Art
Australian artists and art lovers are breathing a little easier this weekend, and looking forward to a successful Melbourne Art Fair, thanks to an announcement by the government on Friday.
Yes, did you know that those who invest in art for their own superannuation funds may have been forced to offload a whole bunch of work onto the market, or stash it away in storage, in order to comply with some crazy recommendations made back in April in the "Cooper Review" into super??
Now, while I believe in buying art for the love of it, rather than purely investment (that's a nice idea though), this could have meant a whole bunch of artwork being undersold, thanks to a flooded market; not to mention the value ripped out from under our talented Australian artists.
Thankfully, for the time being (who knows what will happen after August 21) the Aussie Art market is safe!