Wall Street Bonuses Go For Fine Art, Houses, and Mistresses

The market for fine art, including photography, has been on an upward swing for a while, but has really taken off in the last few years. One reason might be the very good years that Wall Street investment bankers have had. With multi-million-dollar annual bonuses, there has been plenty of disposable income available for luxury purchases. Now a new survery of Wall Street professionals shows what all that money is buying.

The market for fine art, including photography, has been on an upward swing for a while, but has really taken off in the last few years. One reason might be the very good years that Wall Street investment bankers have had. With multi-million-dollar annual bonuses, there has been plenty of disposable income available for luxury purchases. Now a new survery of Wall Street professionals shows what all that money is buying. While most of the money has been going to buying new homes and bigger homes, fine art has also been in demand. The survery also indicates that some of the bonus money has been going to other luxuries, such as flying lessons, horses, and "mistresses and other lovers." Go here to read the report of the study in the Wall Street Journal.