Earlier quoted context omitted.
>For some people, buying art aren't isn't too different from buying stocks You are making it look like there's no emotion involved. Buying art in my opinion is mostly an emotional one, unless you're lucky and getting a Monet in a yard sale (which you admit by saying 'you can't do anything to enjoy equities hanging on your wall.'). Also, it is definitely not a logical rationale like buying stocks. Atleast not a stable…
There is centuries of data about how this asset has appreciated. It has a brand that has endured 500 years. Most of the stocks you will invest in, probably won't exist in 50. What could you possibly want to diversify against? It has outlasted Governments, new technologies, and new ideologies. Diversification is a durability strategy and this painting has proven durability across a multitude of change.
I wasn't just talking about stocks. There are so many other places to invest with that amount of money.