Why do people decide to spend money on art rather than anything else?

The motivation behind collecting art varies from collector to collector. Some want to continue a family tradition, or pursue a philanthropic activity, others to gain visibility or become an active participant within the intricate network of influences that constitutes the art world. But they all have a common aspiration: they want to buy the best works of art that their money allows them to buy and as a result become part of a creative, inspiring and innovative industry.