David Hockney masterpiece sells for $90M with the British painter, 81, smashing the record [tr]

Reuters ^ | November 16, 2018 | Staff

[C19fan]

An iconic 1972 painting by British artist David Hockney soared to $90.3million at Christie's on Thursday, smashing the record for the highest price ever paid at auction for a work by a living artist. With Christie's commission, Portrait of an Artist (Pool with Two Figures), surpassed the auction house's pre-sale estimate of about $80million, following a bidding war between two determined would-be buyers once the work hit $70million. The previous record for a work by a living artist was held by Jeff Koons' sculpture Balloon Dog, which sold for $58.4million in 2013. Hockney's previous auction record was $28.4million.

[Savage Beast]

I thought it was a woman, waiting for her husband, or more likely her teenage son, to surface so she could tell him that dinner was ready...or maybe he was wanted on the phone...

...shows what I know.

[Georgia Girl 2]

If I like a painting I just get out my brushes and copy it, frame and hang it. We have three Picasso's in the foyer. 😇

[Wuli]

There really is no accounting for the ridiculous sums too many folks pay for “fine art” other than the extreme envy a bidder will have if, and when, it is sold to someone else. The dollars spent cannot be said as an idicator that any of the pieces are “better” in an artistic sense or even are more enjoyable to more people. All of it is in the eye, and desire, of the individual.

[Dutch Boy]

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.

[Jonty30]

I tend to lean towards the idea of buying quality stuff that has a functional aspect to it. For example, spending a lot of money on a kitchen table, in hopes, that will still work just as well, if taken care, 150 years from now. That’s an expense that can be passed down through generations that they don’t have to spend any money on.

That kind of buying treasures I can appreciate.

[RoosterRedux]

I'll bid $90.3 million for your Picasso.;-)

Will you take a check?

[Georgia Girl 2]

In God we trust all others pay cash. 😇