Quote:
Originally Posted by Itse
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This is stupid rich people buying in on the newest fad.
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Come on, Itse, you are one of the more sensible posters here. You don’t get to be rich by being stupid unless you strike a massive lottery win. To those who pay tens of millions for a piece of painted cloth or a jpg image, this money is pocket change and an investment bet. “Artistic value” does not enter the equation. At worst, if they can’t re-sell, they can always donate this stuff for name recognition and tax deductions.
The common point of view is that it doesn’t affect general public; it’s just uber-rich playing their uber-rich games. But it does. It is much easier to approve a $1M rusted metal beam monstrosity commissioned on public tax money as a public sculpture by a bunch of appointed board members. “Hey, it’s only a million. Look, jpg’s are selling for $65m!” Who’s stupid here - the rich, the governments or the public?