Why art is expensive?



A-2

Table of Contents
[]
  • 1. The excessive expensive paintings
  • 2. Why art is expensive?

The world of art has always been something that is hard to understand to normal people. We find it hard to understand the meaning of the art and to assess why is is excessively expensive.

 The “Salvator Mundi” was sold at $450 million The “Salvator Mundi” was sold at $450 million / Ph: Pexels

1. The excessive expensive paintings

In May of 2019, a 1986 sculpture by Jeff Koons was sold at the recors price of $9.1 million at Christie’s. Honestly, some people just do not understand what special with a large, silver reflective rabbit that is was set that umaginable price. This rabbit painting was bought by gallerist Robert Mnuchin, a former Goldman Sachs partner, also the father of Treasury Secretary Steve Mnuchin, on behalf of an anonymous client. In September, Sotheby’s Hong Kong sold a pair of painting by a Chinese French painter Zao Wou-Ki for the price of $65.1 million and $11.5 million respectively. In 2017, “Salvator Mundi”, a long-lost painting which was doubtfully to be by Leonardo da Vinci, was sold at Christie for $450 million. This painting set the record of the most expensive art that ever sold. So why is for that price?

2. Why art is expensive?

First and foremost, it should be noticed that the rich hardly buys an art from an anonymous painter. Most of the purchases are through the destination auction such as Sotheby’s or Christie’s. So, obviously, these aunctions must receive some commission for their promoting art. And the price of painting sold at the auction includes the commission, which is very high.

A-3

Besides, normally, gallerists often visit art school’s MFA graduate to find fresh young talent to present. And the tuition to purchase the art study at MFAs is not cheap. The 10 most influential MFA programs cost an average of $38,000 per year, which means that an art student need around $100,000 for their degree. Only artists that are outstanding in a graduate show have their work displayed in group shows. Another reason, according to Olav Velthuis, a professor at the University of Amsterdam who studies sociology in the arts, is from the difference in demand. The demand for art is not distributed evenly among all living artists. Many buyers tend to put their attention on a small numbers of artists, creating a chance for them to boost the price up.

Due to several reasons, the price of paintings is droven up, which is a good chance for the development of creativity for artists.

Why art is expensive?

Support Ogusyis by making a contribution – no matter how small.


Enter your amount
£
Enter your amount
£
Enter your amount
£
Yourname
Email
Phone

AD4


Discover Europe’s Top 3 Affordable Holiday Destinations in 2024

Explore the latest findings from the British Post Office Travel Money’s ‘Holiday Money Report’ to uncover Europe’s most budget-friendly vacation spots for 2024.

Explore the latest findings from the British Post Office Travel Money’s ‘Holiday Money Report’ to uncover Europe’s most budget-friendly vacation spots for 2024.

Read more

How to Bring Hygge into Your Home?

Hygge, the Danish concept of coziness and contentment, has gained popularity around the world for its emphasis on creating a warm and inviting atmosphere in the home.

Hygge, the Danish concept of coziness and contentment, has gained popularity around the world for its emphasis on creating a warm and inviting atmosphere in the home.

Read more

Controlling personal finance and budgeting app

What town in Switzerland was inspired for Lord of the Rings?

Switzerland is renowned for its breathtaking landscapes, picturesque towns, and rich history. It's no surprise that this stunning country has served as inspiration for many artists and writers. One such renowned work that drew inspiration from Switzerland is J.R.R. Tolkien's epic fantasy novel, "The Lord of the Rings." 

Switzerland is renowned for its breathtaking landscapes, picturesque towns, and rich history. It\'s no surprise that this stunning country has served as inspiration for many artists and writers. One such renowned work that drew inspiration from Switzerland is J.R.R. Tolkien\'s epic fantasy novel, "The Lord of the Rings." 

Read more

Luxury Home Design Ideas: How to Create an Elegant and Comfortable Living Space

If you're planning to build or renovate your home, creating a luxurious living space is a great way to add value and style to your property. With the right luxury home design ideas and techniques, you can transform your home into a stunning oasis that exudes elegance and comfort.

If you\'re planning to build or renovate your home, creating a luxurious living space is a great way to add value and style to your property. With the right luxury home design ideas and techniques, you can transform your home into a stunning oasis that exudes elegance and comfort.

Read more

Buy Land & Vacant Lots on Easy Monthly Payment Plans

How To Style Art In Your Home: 6 Best Tips

Decorating your home with art can be a great way to add personality and character to your living space. However, styling art can be tricky, especially if you're not sure where to start. In this article, we'll provide you with some tips on how to style art in your home.

Decorating your home with art can be a great way to add personality and character to your living space. However, styling art can be tricky, especially if you\'re not sure where to start. In this article, we\'ll provide you with some tips on how to style art in your home.

Read more

Trending Home Colors 2023: Top 5 Colors

Many of us are curious about what interior designers are suggesting as the trending home colors 2023.

Many of us are curious about what interior designers are suggesting as the trending home colors 2023.

Read more

Buy Land & Vacant Lots on Easy Monthly Payment Plans

3 Best Creative Island Home Design Ideas

If you're looking for a unique and picturesque home, look no further than island home design ideas. Island homes offer a balance of comfort and beauty, and can be tailored to a variety of design sensibilities.

If you\'re looking for a unique and picturesque home, look no further than island home design ideas. Island homes offer a balance of comfort and beauty, and can be tailored to a variety of design sensibilities.

Read more

Luxury Waterfront Home Designs offer Stunning Views of Nature Beauty

Luxury waterfront home designs are some of the most sought-after properties in the world. With stunning views of sparkling blue water and lush green trees, these homes offer a serene and luxurious lifestyle that is hard to come by. But what exactly are luxury waterfront home designs and what makes them stand out from other homes?

Luxury waterfront home designs are some of the most sought-after properties in the world. With stunning views of sparkling blue water and lush green trees, these homes offer a serene and luxurious lifestyle that is hard to come by. But what exactly are luxury waterfront home designs and what makes them stand out from other homes?

Read more

Top 7 Home Design Trends 2023

Home design is constantly evolving, with new trends and styles emerging every year. As we look ahead to 2023, there are certain design elements and features that we can expect to see more of in homes. Here are some of the top home design trends 2023:

Home design is constantly evolving, with new trends and styles emerging every year. As we look ahead to 2023, there are certain design elements and features that we can expect to see more of in homes. Here are some of the top home design trends 2023:

Read more

Copyright © Ogusyis. All rights reserved. The Content may not be copied, distributed,  republished, uploaded, posted or transmitted in any way without the prior written consent of Ogusyis.