Art is 99% scam. Rich people buy art then pay a private appraiser to appraise it for a higher value and then they donate it to a museum as a tax write-off (typically, not always)
The auction house estimated Warhol's painting at $200 million, so while $195 is a lot of money, the buyer didn't pay more than what the picture was worth.
$45,045,000 for Washington Crosses the Delaware is just a coincidence? Seriously? So the bidding was so fierce for this painting that it went $25 million over it's estimated worth but then the bidders started nickel-and-diming it? That's just stupid. Someone intentionally paid that amount for it.
All of that aside, I find it sad that piece of modern art garbage was estimated to be worth 10 times the value of such a classic and historic piece of art.
The art market has been nuts for the past few years. The Andy Warhol painting of Marilyn Monroe just sold last Sunday for $195M.
Not everything that happens in the world is a conspiracy. Sometimes outlier shit just happens.
Art is 99% scam. Rich people buy art then pay a private appraiser to appraise it for a higher value and then they donate it to a museum as a tax write-off (typically, not always)
In addition it is also often money laundering
🐸https://flickr.com/photos/pomphorhynchus/3751733832
The auction house estimated Warhol's painting at $200 million, so while $195 is a lot of money, the buyer didn't pay more than what the picture was worth.
$45,045,000 for Washington Crosses the Delaware is just a coincidence? Seriously? So the bidding was so fierce for this painting that it went $25 million over it's estimated worth but then the bidders started nickel-and-diming it? That's just stupid. Someone intentionally paid that amount for it.
All of that aside, I find it sad that piece of modern art garbage was estimated to be worth 10 times the value of such a classic and historic piece of art.