Declining Oil Market a Boon to Artist

AUSTIN, TEXAS, January 27, 2016 (Newswire.com) - ​Oil painter Dion Laurent is hiring and training unemployed oil field workers amidst declining wages and massive layoffs in the oil industry.
​Speaking from his Central Texas studio, Laurent declares, "Hey, what's bad for the oil industry is great for us. Oil paint has never been cheaper. Now, we've got loads of extra cash on hand due to the lower cost of supplies, and in this market, cheap labor is everywhere. My only concern is that loads of paintings will flood the market and create a massive sell-off of oil paintings."
​Texas A&M University Mays School of Business Professor Andrew D. Warhola, Ph.D. said the oil painting market should be able to maintain an extended upward swing in supply, as a sell off in the stock market generally leads to an increased investment in oil paintings.
Asked about the effects of a flood of oil paintings entering the market, Dr. Warhola replied, "There may be a flood of new oil paintings, but most of them won't be worth a barrel of oil, so I am not concerned about a market decrease in the value of good and great paintings, many of which are already in the blue chip market."
​Warhola continued, "Laurent's values will continue to increase, but not many gems will come out of the oil field workers. Still, I would advise to continue investment in the oil painting market, and recommend a long term position on all good and great oil paintings.  Really, I'd take my money out of Exxon and invest in a Laurent".
Looking out over his crews of student painters, Laurent smiles, "Other than my plein-air painters, the rest of them have it pretty easy here.  This is a big win for the Texas Oil Industry and for Texas Arts."

I would advise to continue investment in the oil painting market, and recommend a long term position on all good and great oil paintings.

Andrew D. Warhola, Ph.D. Mays Shool of Business