Tipu Sultan Paintings on Sotheby’s Auction
Art is one of the most precious asset class. Owning an art is just like owning any other asset class such as stocks, bonds, gold, real estate, mutual funds and businesses.
According to Economic Times,
Twenty-four rare paintings depicting the famous Battle of Pollilur, in which the East India Company army surrendered to Tipu Sultan and his father Hyder Ali, are the piece de resistance of British auction house Sotheby's Oct 6 Islamic World Sale of Art.
The paintings are estimated at 650,000-800,000 pounds.
The Battle of Pollilur, which took place Sep 10, 1780, marks its 230th anniversary this month. The battle is one of the worst defeats the British suffered on the subcontinent, with a high casualty.
Art is the great asset class and it is not just the hobby anymore. Investors invest in art for huge capital gains. Many rich people invest their surplus money to buy art.
World’s richest person Carlos Slim Helu is an art lover and he has his own art house in Mexico. Anil Ambani also owns art portfolio. Thus, art is a great asset class.
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