Investment or passion?

An accessible and engaging guide to understanding how the art market works

In 2019, a small wooden panel that an elderly woman had forgotten in her Paris kitchen was sold at auction for 24 million euros. For years, she had no idea that this seemingly insignificant piece of wood — now on display at the Louvre Museum — was in fact The Mocking of Christ by the Italian painter Cimabue. Of course, finding such a treasure in a kitchen is hardly common, but it’s a fascinating example of why knowing, valuing, and dedicating time to art truly matters.

Surrounded by an aura of luxury and exclusivity, the world of art collecting can seem out of reach for most enthusiasts. However, it’s more accessible than it appears — and can be deeply rewarding, as long as two key elements are present: a passion for art and an understanding of the market.

María Sancho-Arroyo has spent the last thirty years working with artists, collectors, and investors, including two decades at the renowned auction house Sotheby’s. From behind the scenes of this sophisticated universe, she opens the door to readers with a guide that offers access to the rich ecosystem of fairs, galleries, and collections.

Investment or Passion? unpacks, in an entertaining and informative way, the different sales channels, the secrets of valuation, the interplay between museums and the market, and the possibilities of art as an investment — even for modest budgets.

Ultimately, this book aims to provide the essential tools to navigate the art market with skill and ensure that every acquisition is not only gratifying, but also adds value and satisfaction to your experience as a collector.