The William Kentridge artwork that I posted about recently went for well over the estimate of £350,000 - £550,000. It sold for £682,750 ($935,000)—a record for Kentridge's work. Here's the story. The photo gives us a sense of the dimensions of the aptly titled Large Typewriters (misspelled as Large Typerwriters in the story). The story also says that the piece was created using charcoal and pastel. Sounds fragile!
Does this mean that I can get half that much for my real, functional Blick Ninety that Robert Messenger kindly gave me?
I guess some people who have too much money to put to good use will buy anything.
ReplyDeleteA person could buy a decent little house & car and pay the taxes & utilities a long time on that kinda money. Can't say I've ever understood the art market, but ain't nobody cares if'n I do or not, so it's groovy. :D
ReplyDeleteThe art market has become like any other commodity market; wealthy participants gaming the system and make a lot of money. The auction houses benefit from the big sales and the artist gains prestige, though not a percentage of the sale. Big sales like this to wealthy East Asian and Russian million/billionaires is tantamount to money laundering. Art, Belgravia townhomes, private islands—all ways to launde money.
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