If you could buy a piece of art that would be worth $1 million in 10 years, would you do it?
Yes. But there are things to consider first:
What kind of art? If it's an oil painting, for example, I'd need to know how much I'd be paying for the materials and how much the artist is asking for their time. And then there's the question of whether or not the art in question is even going to sell at auction—and if it does, whether or not someone will pay me what I want for it.
If my goal is simply to make money off my investment, then no matter how expensive something is now, there are cheaper options out there that will probably yield better returns on investment. However, if my goal is to own something beautiful that appreciates over time—and perhaps even increases in value due to its rarity.