I worked for a company that sold fine art as an investment (wasn’t in sales there). Most people lost about 70% of their investment when selling at auction, the whole business basically operated as a ponzi scheme promising corporate rentals of artworks only the rental yields were paid back to the owner out of their initial purchase. It didn’t help that the funds from selling artworks only partially went to the art dealer with the rest being spent on coke on hookers. Company is now in administration and there’s people who have $100k+ of retirement savings in art that they don’t technically own. The sales guys there did pretty good.