The Value of Modern Art
Sergio Bustamante is a Mexican artist/sculptor living in the Guadalajara area. His work is unique. Art collectors, particularly those outside of Mexico, claim it will increase in value over the years.
I know nothing about valuing art. I can tell you a little about the Bustamante sculpture to the left. It stands on the Puerto Vallarta Malecon. Intrepretations of what it is are varied. That is probably a good thing.
In 2002, when a hurricane hit north of Puerto Vallarta, the winds and water carried Bustamanate’s sculpture away in the surf. Such godsends always seem shortlived.
Some weeks later, some Mexican fellows drove into town with it on the back of a flatbed along with various other bric-a-brac they had found littering the beach in the state of Nayarit. They were selling it as scrap metal. At the scrap yard it was recognized.
The Bustamante originally sold for some $25,000, about the value of a timeshare purchase. How much is it worth in the secondary market? I would suggest that the Mexicans would be the most knowledgeable and they were willing to part with it for about 10 cents a pound, or about $30. That suggests to me that a timeshare, which sells for about $15,000 in the secondary market, is a better deal.
Bustamante art is available for sale in select stores in Puerto Vallarta. Sergio does have his good days, so drop into one of the stores and look around. Or head over to the scrap yard for a potentialy really good deal