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Old 03-07-2011, 12:09 PM   #1
Real Men Wear Green
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Default Painting sold for 106 million

It's a Picasso.



If you had a few billion dollars, would any of you buy this?
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Old 03-07-2011, 12:21 PM   #2
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Default Re: Painting sold for 106 million

If I had $100+ billion, I would consider buying it. $3 billion? No.
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Old 03-07-2011, 12:21 PM   #3
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Default Re: Painting sold for 106 million

No.
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Old 03-07-2011, 12:28 PM   #4
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Default Re: Painting sold for 106 million

I never get why painting sells for so much. I guess it's the rich man's collection game. As I understand it, it's the demand, history and rarity of the painting and not really the "artfulness" of it that drive the price up.
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Old 03-07-2011, 12:34 PM   #5
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Default Re: Painting sold for 106 million

Not a chance. I don't think I would even spend that much money on a house.
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Old 03-07-2011, 12:52 PM   #6
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Default Re: Painting sold for 106 million

what ever they want to do with their money. they obviously worked hard for it so that person can at least have the right to treat them self to something that intrigues them. Even though, I don't know what is so intriguing about that painting.
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Old 03-07-2011, 01:06 PM   #7
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Default Re: Painting sold for 106 million

I'm just not sure if it matches the decor in Vapid's house though.
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Old 03-07-2011, 02:09 PM   #8
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Default Re: Painting sold for 106 million

Quote:
Originally Posted by Premeditated
what ever they want to do with their money. they obviously worked hard for it so that person can at least have the right to treat them self to something that intrigues them. Even though, I don't know what is so intriguing about that painting.


a lot of billionaires work their asses off. yeah.
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Old 03-07-2011, 02:38 PM   #9
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Default Re: Painting sold for 106 million

Quote:
Originally Posted by iamgine
I never get why painting sells for so much. I guess it's the rich man's collection game. As I understand it, it's the demand, history and rarity of the painting and not really the "artfulness" of it that drive the price up.

It's very complicated actually.

In the short term it's the market, like you say. And the market can be driven by a few relevant players (huge collectors and/or gallerists), regardless of the "artfulness" (or let's say the actual artistic value) of the work.

In the long term, there is a higher correlation between the economic/market value of a work and its artistic value.
True genius remains.

Why does painting sell so much? Because those works are unique.
There are diamonds or other stones that are worth as much as painting masterpieces and no one wonders why.
They are rare and they have an aesthetic value + in the case of painting there's human genius put into them.

On another note one might wonder why this


this


this


and this


and many more similar to them, each have a comparable, astronomical value.

This is the same idea repeated over and over.
It is revolutionary, conceptually outstanding, ok... But oh well.



Anyways, while in some case it may be a rich man's game (well, for the richest ones I guess), in most cases is just another way to invest your money.
And while Picasso is the probably one of the most solid investments you can make, when you set a new world record it is very very tough to say you have a made a good investment
I'm not saying that in the future the buyer won't be able to re-sell it at the same price or higher, but certainly you won't make the biggest margin out of it.
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Old 03-07-2011, 02:45 PM   #10
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Default Re: Painting sold for 106 million

Quote:
Originally Posted by Premeditated
what ever they want to do with their money. they obviously worked hard for it so that person can at least have the right to treat them self to something that intrigues them. Even though, I don't know what is so intriguing about that painting.

That's a sentence that I'd use for people who CONSUME a lot of money (i.e. cars, clothing etc, just think of Antoine Walker for other examples).

But like I've said, in most cases if you put a lot of money into art, it is not "consumption".
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Old 03-07-2011, 08:26 PM   #11
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Default Re: Painting sold for 106 million

Quote:
Originally Posted by Jasi
Why does painting sell so much? Because those works are unique.
There are diamonds or other stones that are worth as much as painting masterpieces and no one wonders why.
They are rare and they have an aesthetic value + in the case of painting there's human genius put into them.

See, I do wonder. I used to ask why the heck something as useless as a diamond ring cost so much. Come on, every man has wondered about this. Okay, lets say the rarity and aesthetic value. But really? I think it's the value society puts on those things that made it valuable, which in turn makes us believe that value, which in turn makes us part of that society. It has very little to do with our own personal artistic judgment.
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