Art prices
Art prices
Out of context: Reply #6
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- monNom0
The super expensive paintings are almost never purchased by some rich guy just to hang on his wall and appreciate. It's usually a group buying the painting as an asset they hope will hold it's value, or appreciate in the near future.
Art prices usually go up around the same time gold prices go up, as it's a sign that confidence in the local currency is waining, and people with money are trying to protect their wealth.
This is also why paintings become more expensive once an artist dies. No more supply means prices rise (if people want the paintings).
and yes, it is bullshit.