Bette continued, as she resumed eating, “I mean, even in my case, when I had capital tied up, I was able to structure some financial deals based on some art that I own, which I got long ago when I had just finished graduate school.  So talk about a financial return – not just from the value of the paintings, but also as assets on which to base a financial transaction that’s completely unrelated to art. I’ve since repaid the financing that I structured out of some of my art holdings, thankfully, with the gains I made out of the investment I’d done it for.  So it’s a relief that all the art I … or I should say myself and Tina own … are free and clear.”

Rachel cocked her head to one side, “If what you say is true, then there must be others who are also building collections of their own.  How big of a market in art are we talking about?”

Bette pursed her lips, then responded, “Globally, if you consider that in late 2013, there were an estimated 200,000 individuals with assets of approximately $30 million or more, which is an increase of 6% over the level in 2012, plus add in the fact that there has been a growing distrust amongst some, not all, of them, in financial assets, then that leaves only certain types of assets, like art and collectibles, for the world’s ultra-rich, to invest in.  I’ve heard various estimates, but I’d say a safe estimate of sales and turnover in the global art market could be in the range of between $55 billion and $65 billion every year for the past seven years, except in 2009.”

Even Tina sat up and looked at Bette, as she and Rachel both dropped their mouths, “What?!   That much??”

Rachel thought aloud, “And where do people keep all this valuable art?  Having invested billions on it every year!  In their homes?”

“Well,” Bette started, “there’s more and more being kept in freeports, actually.  And there are lots of reasons why people do it – safety, security, taxes, etc.  Running freeports is a growing industry in itself, because of this.  It’s gotten to the point wherein it’s no longer unusual for an exchange or a deal struck between owners may not need to involve money.  Rather, what happens is an exchange of ownership of art, and maybe other things.”