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The Absurdity of Art Auctions

Some of the most well-known pieces of art go up for auction in the most exciting auctions, Christie’s and Sotheby’s. Extremely wealthy bidders seem to have no limit for what they will pay to have their hands on “priceless art”. With pieces of art fetching tens and even hundreds of millions of dollars today, what will these same works of art be worth centuries to come. It is fascinating to look at the extremes and art auctions are certainly the extreme in the bidding world.

What makes art such a valuable commodity to the affluent, is collecting fine art the highest form of showing off wealth? How do some people control enough wealth to collect hundreds of millions in art? If every bidder has a price in mind before art auctions some bidders must value art above almost any other attainable item. Bidders in the room at art auctions have more wealth than some countries and they are willing to invest it so that they can feel elite? Some art collectors in Eastern Europe purchase art for hundreds of millions of dollars and never show their collections publicly. If bidding is dying out on the internet via eBay then art auctions will always keep it alive and well. Status cannot be shown in a more defiant manner, the buyers are the elite and high art is always gaining value.

http://topdocumentaryfilms.com/what-makes-art-valuable/

http://www.bbc.com/culture/story/20130417-why-is-art-so-expensive

http://www.independent.co.uk/arts-entertainment/art/features/the-shady-world-of-art-auctions-how-can-a-picasso-be-truly-worth-140-million-when-the-art-market-is-so-murky-10242802.html

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