1000 Paintings

I'm a great believer in the merits of investing in artwork. Mainly because I believe the artmarket is relatively inefficient, offering exceptional opportunities for speculation. But also because I just like artwork. Unfortunately, I can't afford name brand artists. No matter, as the unknowns promise a better return.
In any case, this afternoon I came across One Thousand Paintings, the current project of a Swiss artist named Sala. Essentially, he's selling 1000 numbered paintings, priced based on the number on the painting and the number of paintings sold. Lower numbers cost a good deal more, and the price goes up as he sells more paintings. Or more precisely: "Value = 1000 - number; Initial discount: 90%; The discount will decrease by an absolute 10% for every 100 paintings sold; Min. price: $40."
As of this writing he's sold 247. I bought #878, the year the Treaty of Wedmore divided England between the Anglo-Saxons and the Danes after King Alfred the Great of Wessex defeated Guthrum in the Battle of Ethandun (Edington). Some kind of story seemed essential.
Hopefully, I made a good bet. At least the guy's a hell of a self-promoter. In art - as everything else - "genius is 99% perspiration & 1% inspiration." And plenty of artists aren't the perspiring sort. The one thing I can't figure is paying extra for a low number. Assuming the purchase is an investment, I think the market is unlikely to value low numbers more than high ones.

via BoingBoing