The painting and its role in the art market

Inevitably come to mind the prophetic words of Andy Warhol, who recognized business in art and art in business. By this, the existence of the same motive, both in profit and in the creation of paintings.
Purchase of art can be compared only with a tape measure. In fact, the risk is not significant, the more valuable the picture, the greater the chance that in the future it will bring profit to its owner.
The art market is a very complex system. How to understand for example, when one billionaire sells another billionaire a picture for a hundred million or more. (In November 2006, David Geffen, a magnate from Hollywood, sold the picture of Woman III, artist William Koening, to billionaire Stephen A. Cohen for $ 137.5 million.) What is the point? Or when the same David Geffen, artist Jackson Pollock, for 140 million dollars .. Continue reading →