What makes a painting worth $90 millon?

[moon]

This David Hockney Painting was sold for a Record-Breaking $90.3 Million at Christie's.

My question is, how is a painting, especially one by a living artist worth so much?

In my admittedly uneducated opinion, it is a nice painting, but there are dozens, or hundreds just as nice or even better.

What makes this piece so special?

http://www.artnews.com/2018/11/15/d...isties-new-record-work-living-artist-auction/

 

[barkley]

My question is, how is a painting, especially one by a living artist worth so much?

it's only worth what someone is willing to pay for it. art is a speculative investment.

 

[Cannot_Wait_4Disney]

This David Hockney Painting was sold for a Record-Breaking $90.3 Million at Christie's.

My question is, how is a painting, especially one by a living artist worth so much?

/

Because as you can see, nobody looks as hot in a white speedo as I do.

 

[StageTek]

True. People who buy paintings and spend above $50,000 are not buying something that is nice or even better. It's an envestment, not aesthetic.

Hockney is very popular. Hold it for 18 months and sell it for another record breaking number. Even $100 million would be good.

Or maybe the buyer actually thinks there isn't something nicer or better.

 

[JaxDad]

Bob Ross could have banged that out in 25 minutes, with a break to show us his pet squirrels.

 

[GreatLakes]

Nothing tangible other than someone else willing to pay that much for it. It is like any non-secured investment. It is worth what the consensus says it is worth and really only worth what someone will pay for it.

 

[FlightlessDuck]

https://www.theatlantic.com/entertainment/archive/2018/11/david-hockney-christies-auction/575530/

The Hockney painting is an unquestionable and probably timeless masterpiece (perhaps unlike the previous record holder). One can make an argument that it is one of the two or three most crucial canvases of the ever-youthful, now-81-year-old British master’s career. As the people at Christie’s (the ones who put forth the $80 million figure) are delighted to point out, the work marks the only time Hockney combined two of his most popular subjects: a swimming pool and a double portrait.

No, I don't know why that makes Portrait of an Artist worth $90 million.

I don't know what's art, but I know what I like. I do like that painting, but not $90 million worth.

 

[Mackenzie Click-Mickelson]

I found the recent documentary The Price of Everything to be quite interesting in terms of looking at not only how art changes, pricing of art, what people consider art, how the artists feel, etc.

 

[tvguy]

Bob Ross could have banged that out in 25 minutes, with a break to show us his pet squirrels.

30 minutes. He needs 5 minutes to "beat the dickens" out of his brushes.

 

[kaytieeldr]

25 minutes. Even PBS runs promotional programming between shows.

 

[Cannot_Wait_4Disney]

Hey. If a Campell's soup can or paint flung at a canvas a-la-5 year old, is a timeless classic, why not a guy in the pool?

 

[Cannot_Wait_4Disney]

25 minutes. Even PBS runs promotional programming between shows.

Still 30. He uses that off camera time to mix up his Dark Sienna, Alziran Crimson, Titanium White, and Yellow Ochre.

 

[longboard55]

The truth is all these uber rich who complain they pay too much in taxes, really do not

 

[_19disnA]

The prices for art seem so arbitrary, I have no idea how anyone determines the real 'value'. Can be quite iffy as an investment if enough people start to think art, in general, is overvalued.

 

[moon]

I remember an episode of Knots Landing (looong time ago, I know), one of the characters who was wealthy was diagnosed with a terminal illness and had months to live. She and her husband had been planning on investing on a painting that was worth thousands. After leaving the Doctor's office she was walking in a daze, and went to the art gallery. Next to the painting she was going to originally buy there was another worth $400 (IIRC)

She decided to buy the $400 painting but paying the amount she was going to pay for the other one.

Must be sweet to be a struggling artist and get a fairy godmother (or father) to propel your career like that!

 

[Southernmiss]

Dh bought me a print that I've had my eye on for 2 years. He had it framed and matted. This was my first 'real' art. Total was abt $450 for the print and framing. I am still choking that one down.

Can't imagine paying some of the prices some pay for art.

 

[old feller]

A very expensive frame.

 

[Gumbo4x4]

The same thing that makes a ticket to WDW worth more than $100.

 

[low-key]

The only painting thats worth 90 million is "Dogs playing Poker"

 

[moon]

The truth is all these uber rich who complain they pay too much in taxes, really do not

This bears repeating. So true!