Is art collecting only for the rich?

Is art collecting only for the rich?

Let's be honest, you're not going to be collecting art if you're worried about paying rent.

But does that mean art collecting is only for the rich? I'm not an art expert neither am I rich. So I decided to ask someone who was both: Elie Khouri, chairman of Omnicom Media Group and avid art collector.

"Buying art doesn't have to be for the rich,“ he tells me on my business talk show Greenback. "You don't have to have a lot of money to buy art. You start small - you can buy print editions by young artists that are completely young and that can over time become known and established.

"So it's not for the rich for sure,“ he says, albeit, that's easy for a rich person to say [sorry, Elie].

I do agree, however, that anyone can collect art. It just won't make you any money, which takes me to my second point - that while art collecting is not just for the rich, art investing is.

Why? Because art is a bad investment. And who has the luxury to make bad investments? The rich, of course. Art is an unregulated, illiquid, costly and volatile asset that produces no income. For once,