Impressionist Artist W. Chapman

The only reason to buy art is because your love for the artwork. Those that speculate in an art’s future sale price tend to lose money because art is illiquid.

At auction, art buyers pay 25% of first $200,000 of the hammer price; 20% of amount above $200,000 to $3 million; 12% of excess over $3 million (previously $2 million).