Art Market Boom

There’s a boom in the art market.It seems all kinds of price records have been set recently in the art world. Approximately 135 million for the Klimt – the highest ever paid for a painting. 95 million for Picasso’s Dora Maar. A de Kooning sold for about 15 million at Art Basel 37. The German painter Gerhard Richter’s – Aunt Marianne- fetched about 3.9 million and a Hockney – The Splash - approximately 5 million and they are still alive and well and working!

Absurdity?

This century’s art market has overtaken all previous ones. The new rich, the “old” rich, and the super rich are all competing to become THE collector. Is this a question of new symbols of status or is it about the value of great art? Is it about the economics of supply and demand or having more money than you know what to do with it? Lastly, will these works be on public display ( the Klimt will ) or will the majority of the works be reserved for the pleasure of the owner?

I have to admit that I would love to own all of these pieces and more. The fact is the buyers have created a new league and it’s a league of its own. When I’m lucky I can buy a ticket to see this art in an exhibition and maybe even take a picture as well. That’s the beauty of art: to see the beauty and to retain the image of it somewhere; to reflect on it; to swim in emotions that come from it and to say “Man, I wouldn’t mind being in that league.”