Dubious wrote:
Most people who pay these kind of absurd prices are less inclined to like the paintings they purchase - though they may - but as an investment independent of one's personal tastes. Almost every time paintings by the famous are auctioned it's usually always at a considerably higher price then previous.
Dub, you're merely voicing an opinion that has as much value as a reader would like to place upon it. What is your definition of "absurd price"? Something that you yourself find objectionable, no matter what you feel about prices and art. The closer truth lies in the fact that paintings that command huge amounts of money will in all likelihood survive the pillage of time. Values place admiration on objects assuring future generations will be able to enjoy.
Dubious wrote:Totally naive! It's the power of the "Brand" whether or not people actually like the art behind it which determines these totally grotesque prices...
You ignore that "Brand" is created by public acceptance. Would "Elvis Presley" brand not have tremendous value had his music and overall career had not been admired by the public? Would Picasso's "Dora Maar" achieve the value it has if it wasn't for the artist's career and public acceptance? The list is long given the time and interest to pursue it.
Dubious wrote:Would I buy a total piece of shit for 50 million$ that I wouldn't mount over a toilet bowl if I was reasonably certain I could resell it for 10 million more in a year or so?
The key phrase (highlighted) is paramount to your foolish question. For you to purchase anything for $50M would require you having a tremendous amount of money available to you to even consider a purchase of that magnitude. If you're going to play the "assumption game", begin with the reality of where your wealth comes from? If your personal "value" so great to those you serve that spending that amount of money on an artwork is merely an investment for you? How much are you willing to spend on the security of such a piece, (think vaulting, humidity factors, long term security concerns, etc. which would account for the value of the future sale).
Dubious wrote:There's a huge number of people who don't love Picasso and his art is not what's driving the prices up. That part is due completely to it's investment value based on the brand of what is merely perceived to be art.
Ridiculous assumption, Dub, especially your last sentence. Art is art, period. Whether you as Joe Public enjoy an art piece is strictly on your own perception in what you are looking at - how does it make you feel? what is it that attracts you to it? would you consider purchasing the piece and hang it on your wall? what would your family and friends think of your choice in art? There are several factors one does consider before making a purchase dependent upon the original value placed on the piece.
Dubious wrote:The following is an example of that. Unbelievable when you look at what caused the inflation...and there are plenty more examples. It's a business first and foremost. It's the art of making money not Art appreciation which is most appreciated by buyers, sellers and re-sellers...a unique club of the super wealthy.
A "quick-to-criticize" comment that is ill-thought out. True one would certainly enjoy making some level of profit off an investment, but that is unrealistic. Think of the investment one makes in a home or an automobile... how about a musical instrument... do you fancy the object over the "future profit"? The super wealthy are in reality, no different from any of us other than they have more value than the majority, whether thru inheritance or self-made. Many of those wealthiest become caretakers of various objects of great value... a rather large responsibility to take on considering the cost one spends on such objects of art. To treat those objects carelessly would say they have no interest in their intrinsic value. Those people's wealth will quickly "piss away".
I watched a fascinating documentary on Gerhard Richter's art which showed the man at work, his studio, some of his shows, etc... and the one thing I kept thinking is how driven the man is to create and the communications he has with his pieces in progress (the artist and the muse). I'm sure he would be just as curious as to why his works command the money they do, especially after the initial sale... something the majority of struggling artist would envy, but not consider an end goal to their personal art path. Why is a painting from the Renaissance Period not as valuable as a modern piece of artwork? The mystery of art that brings so many levels of interest to it is what makes art what it always has been to mankind. Art is the only survivor of the past that we, the current generation, has to know of that past. Think of all the art that has been saved, salvaged and continues to be discovered... it is all art. There is very little written word or memories of song our distant forefathers amused themselves with other than pottery, statues, murals, etc...
http://www.theguardian.com/artanddesign ... hter#img-2[/quote]