Sure, I have a half dozen cheap paintings, $5 in the 1950's, done on gray shirt cardboard complete with happy little trees,. I love 'em.
I would't consider art an investment, more like a crap shoot.
Yeah, yeah people have made fortunes on art, people have also made fortunes on the lottery too, but the odds are bad.
Art investment is for people with too much money, and it's not about art, it's about bragging rights.
Oh, and art, like diamonds and drugs, are only worth what someone is willing to pay. When shit hits the fan... worthless. Except maybe the drugs.
