"The art world in general is a very niche market. You will have ten or 20 people who are at the top of the collectors for coins or a certain type of furniture," he said. "But when you put them all together, it is a vast market" with lots of players.
There is also an emotional side to art investing, he added.
"Once you buy a piece, there is a vast enjoyment the collector gets out of it. There is also the prestige value of owning one of these pieces," he noted.