MORE EVIDENCE OF THE COMING CONTEMPORARY ART IMPLOSION-THE $142 MILLION TRIPTYCH

Clearly, the purchase is about acquiring something rare and valuable that will be a great investment, hopefully rising in value.  Although, how much more can something with that kind of price tag – a price that rose and rose in the heat of bidding – rise in value?  No one spends that kind of money on something to flip it for a mere one-million dollar profit a year later, do they?

The purchase might also be about status or the thrill of the hunt.  I get it.  Surely the seller is thrilled, but Francis Bacon and Lucian Freud – rest their souls – are none the wiser.  Picasso, Rembrandt and others are probably spinning in their graves.  Where’s their BIG payout?

 

http://artbookguy.com/the-1424-million-painting_733.html?goback=%2Egde_37657_member_5812346566723256321#%21

Share the postShare on Google+Tweet about this on TwitterShare on TumblrPin on PinterestShare on LinkedInShare on Facebook