To say that money can’t buy taste is a truism with particular relevance in today’s luxury markets as they rebound from the global recession. Ostentatious spending is out, replaced with wise and cautious consumption that has translated into the development of sophisticated and refined tastes. That’s not to say that people aren’t spending. Globally and in Lebanon, luxury is now more than ever about passion markets. Demand for cars, wines, watches, jewelry and art are being driven by a feel for offbeat designs, one-off collectables and vintage items requiring a discerning eye and valuation literacy. Aesthetics and the emotional appeal of luxury goods with no expiry date are the important indicators of investment value. Nowhere is this more evident than in the growing market for art in Lebanon. Cash-laden and educated new collectors are venturing into the market. After initial market overzealousness for Iranian art, these cautious investors are propelling the
