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After weathering a turbulent 2020, the art market bounced back with a massive recovery last year that seems to be continuing into 2022 with online art sales accounting for 20% of total sales. Recently, an Andy Warhol painting sold at auction for $195 million, the highest price ever for a 20th-century artwork, second only to Jean-Michel Basquiat’s “Untitled” which sold for $110.5 million that was created in 1982. Art markets are thriving despite inflation being at a 40-year high, ailing stocks, and a very shaky cryptocurrency market. Could 2022 be the year for Black art sales to thrive?

Why This Matters: The recent run-up in inflation rates around the world has intensified the search for hedges and art can serve as an inflation hedge in almost any environment, according to The Washington Post. Experts have found that the accumulation of art is an excellent way to diversify one’s portfolio. Unlike bonds, art is a tangible investment that is legible to all and, in general, reliable when it comes to dividends.

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