Several developers have been using the powers of art in interesting ways to engage home buyers. Examples of the growing trend include billionaire Argentine art collector and developer Eduardo Constantini’s use of sculptures by Jeff Koons for his Oceana Bel Harbor development in Miami. Others have commissioned renowned artists and sponsored exhibitions in hopes that the prominent works will help to convince buyers that they have found the right place. Worldwide, it is reported that $66B of art was sold at auction last year. And Christie's just had its first every $1B week at auction, cementing art's status as a top-tier asset among the new superrich. [NYP]
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