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Art: rewarding but risky

Only top-end works qualify as investments, reports HELMI YUSOF

RECENTLY, Tracey Emin's My Bed - an installation work of an unmade bed artfully littered with condoms, cigarette packs and underwear - sold at a Christie's auction for £2.2 million (S$4.5 million). Good buy? Or "goodbye" to all that money?

Roland Fuss, a finance expert and art lover from the University of Saint Gallen in Switzerland, is hard-pressed to say which it is. Past research has shown that art is a highly volatile asset class, promising low returns while carrying a high risk.

Speaking to The Business Times after the St Gallen Public Lecture held at the Steinway No 1 Historical Exhibition at the National Museum of Singapore, he says statistics shows that it is mostly top-end art that sees...

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