Art has emerged as an asset class most moneyed people would love to have in their investment portfolio. The usual recommended ratio of art is 10-15% of the portflio.

But it is not just companies and the well-heeled who are chasing artwork as an investment, even students are drawn to owning them.

Obviously, the work has to be good, and another important factor is to find out where the artist comes from and the history of the work. It is also important to find out how many museum shows the artist had.

However, it is not easy for someone to invest in art because it involves some knowledge about the world of paintings. Most people are not comfortable buying an expensive work merely on a recommendation from a so-called expert. Many investment experts concede that this lack of expertise is the main obstacle when it comes to investing in art. Amar Pandit, a certified financial planner (CFP) with My Financial Advisor, says a lot of his clients invest in art but they buy them directly from auction houses and galleries. "A lot of times, it is not really an investment but its something that they like and enjoy," he adds.

While prices of works by well-known artists have skyrocketed, it's the upcoming artists who are attracting both the seasoned and the new collectors. It is a definite trend worldwide - more and more people are buying art, especially online. Worldwide there is especially a good demand for the younger generation of artists.