TODAY PANAMA – Increased purchasing power is attracting investment in art galleries, theater productions and bookstores.
Prices of art pieces that have been sold in Panama range on average from between $3,000 and $300,000, according to data from Marion Gallery.
Gabriel Cruz, owner of Marion Gallery, told Martesfinanciero.com that “… Some paintings have been sold for $300,000. In my view, Panama is a growing market and has a middle and upper classes who are increasingly demanding more of this kind of art.” “… collectors feel that buying an inexpensive work today is a good investment, as it is not likely to devalue.”
“… The employer said that profit margins obtained by the sale of a piece or painting can be between 20% and 50%, however, how profitable the business is will depend on how well it is managed. ”