Business Standard

Why Silicon Valley's young elite won't invest in art

A lot of money is flowing in and out of Bay Area, but it's not going towards art

Art, Silcon Valley
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Guests pass by artworks on display at the Rubell Family Collection booth during the Art Basel Miami Beach art fair in Miami Beach, Florida

James Tarmy
Walking through the frigid warehouse that housed the inaugural San Francisco edition of the Untitled Art Fair in January, 23-year-old entrepreneur Connor Zwick took in the fair’s 55 contemporary art galleries and was unimpressed.
 
“I look at art all the time and see a lot of art I like,” he said. “But it’s not correlated with price at all.”
 
As he went from booth to booth and was quoted prices ranging from $7,000 for five photographs by the artist Buck Ellison to $42,000 in a different booth for a single, larger photograph by the artist Ori Gersht, his perplexity

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