I really don’t get the idea of paying millions of dollars for classic artworks, when you can just as easily get nice paintings for $60 to hang on walls.
It is absolutely remarkable that work as technically immature as this has any value at all. There are living artists who have no fame whose work challenges the Masters. This particular painting demonstrates that art is, indeed, symbolism, by portraying effete androgynous life.
Or get a facsimile of the famous art. I have a Mark Rothko knock off in my living room and it cost me only $80 and looks like the real thing.
They are high stakes poker chips/a place to put your money. Sometimes they “travel”. Easier than carrying that much cash. Especially when you buy a painting in a country that you don’t live in. You’ve just parked almost a hundred million there.
I think the idea is to resell it a few years for $10 million more than you paid for it.
It's rare that I see one of these paintings that I actually like.
“I really dont get the idea of paying millions of dollars for classic artworks, when you can just as easily get nice paintings for $60 to hang on walls.”
Oh, I get paying a lot for fine works of art. I’ve done it myself. Lots of Chagalls in my house.
This, however, is crap.
Sounds like you have a good head on your shoulders. I have been having a similar discussion with my son. He likes status symbol objects rather than functional opjects. He is coming around.
Some people like to possess rare or historical things. It makes themselves feel superior. In reality, it locks away liquid assets on the hope the item will be worth more in the future. Sometimes it works, some times it doesn’t.
Art, wine, cars and jewels seem to be what people gravitate towards. One of the Koch brothers blew something like $4.5 million on 6 bottles of rare wine that turned out to be counterfeit. Art can have the same pitfalls.