Why is art so expensive?
It is because while you can build a luxurious yacht or
palace at anytime, you can’t create valuable art works such as La Reve by
Picaso or The Scream by Munch.
The prices for necessary things and materials, such as oil
or rare metals, can go very high when the demand exceeds the supply, or when
people speculate the imbalance is likely to happen in the future. But still, is
over-100-million-dollar price tag for a piece of old painting a fair market
value, sound investment or wild speculation?
Enjoy reading and learning about how a small group of people
want to spend their fortune.
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