A mechanic at the LAM Museum in Lisse, the Netherlands, mistakenly threw away a valuable piece of modern art by French artist Alexandre Lavet. The artwork, titled All the Good Times We Spent Together, consisted of two beer cans placed on the museum’s glass lift shaft. The new museum employee assumed the cans were trash left behind by visitors and disposed of them. However, the museum’s curator discovered the missing artwork and found it in a trash bag, miraculously intact after a light cleaning.
Museum director Sietske Van Zanten defended the mechanic, stating that it was an honest mistake and a compliment to the artist, Alexandre Lavet. The museum’s goal is to showcase everyday objects as art, encouraging visitors to see them in a new light. Lavet’s work blurs the line between ordinary objects and artistic expressions, with his beer-can installation symbolizing cherished moments spent with friends over drinks.
While the museum did not disclose the exact value of Lavet’s piece, they acknowledged that it was too expensive to be discarded. Lavet’s other works are valued between £670 and £2,095, reflecting the significance of contemporary art as an investment. The incident emphasizes the challenge of recognizing modern art, especially when it closely resembles everyday objects.
Investing in art can be a profitable venture, as demonstrated by the success of artists like Jean-Michel Basquiat, Andy Warhol, Banksy, and Picasso. The art market has historically offered competitive returns, with an annualized return of 8.3% from 1985 to 2020. Despite the pandemic, art sales only decreased by 4%, highlighting the market’s resilience.
However, art investments require patience as the value of a piece may take years to appreciate. Factors such as the artist’s reputation, demand for their work, and economic conditions can influence the value of art. Additionally, art is often illiquid, meaning it may be challenging to sell quickly. Investors must be prepared to hold onto their pieces until the right buyer is willing to pay the desired price.
