Salvator Mundi and the unreality of the art market
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Salvator Mundi and the unreality of the art market
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Re: Salvator Mundi and the unreality of the art market
#2It's not just the art market, though. The numbers are absurd in the fine art market, since it's a place where rich people go to compete with each other in games the rest of us don't get to play.
But eBay is full of sci-fi memorabilia with certificates of authenticity. A uniform actually worn by Patrick Stewart on screen sells for more than one that was made for him but not worn, which sells for more than a copy made with the same materials. You might actually be able to wear the latter, but the first two would just be set out for display, like the Mona Lisa.
That's a game we can all play, and while I'm not really much into it, I am proud of my author-signed Klingon Dictionary for no good reason -- especially since I never even look at it. It's weird watching hundreds of millions of dollars exchange hands for trinkets, but when you're talking about multi-billionaires, it doesn't really surprise me that they would similarly want to own truly one-of-a-kind things with a poorly-defined "authenticity".
Re: Salvator Mundi and the unreality of the art market
#3It's not just the art market, though. The numbers are absurd in the fine art market, since it's a place where rich people go to compete with each other in games the rest of us don't get to play. But eBay is full of sci-fi memorabilia with certificates of authenticity. A uniform actually worn by Patrick Stewart on screen sells for more than one that was made for him but not worn, which sells for more than a copy made…
A huge payment for a piece of art is also a convenient way to legitimately pay for goods or services that you don’t want to be assoicated with.
Re: Salvator Mundi and the unreality of the art market
#4It's not just the art market, though. The numbers are absurd in the fine art market, since it's a place where rich people go to compete with each other in games the rest of us don't get to play. But eBay is full of sci-fi memorabilia with certificates of authenticity. A uniform actually worn by Patrick Stewart on screen sells for more than one that was made for him but not worn, which sells for more than a copy made…
I have a running debate with one of my friends about the future outlook of these markets. We both agree that perfect replication of many physical collectibles (e.g. mtg cards, comic books) will become possible over the next few decades. My belief is that this will cause authentic values to decline. His belief is that this will cause authentic values - confirmed by certificates and the like - to skyrocket. I still prefer my position (and it’s fed into a growing sense of anti-materialism) but truthfully could foresee either outcome.
Re: Salvator Mundi and the unreality of the art market
#5It's not just the art market, though. The numbers are absurd in the fine art market, since it's a place where rich people go to compete with each other in games the rest of us don't get to play. But eBay is full of sci-fi memorabilia with certificates of authenticity. A uniform actually worn by Patrick Stewart on screen sells for more than one that was made for him but not worn, which sells for more than a copy made…
I have a running debate with one of my friends about the future outlook of these markets. We both agree that perfect replication of many physical collectibles (e.g. mtg cards, comic books) will become possible over the next few decades. My belief is that this will cause authentic values to decline. His belief is that this will cause authentic values - confirmed by certificates and the like - to skyrocket. I still pre…
If you take the diamond market as a valid analogy, you would be right.
Re: Salvator Mundi and the unreality of the art market
#6It's not just the art market, though. The numbers are absurd in the fine art market, since it's a place where rich people go to compete with each other in games the rest of us don't get to play. But eBay is full of sci-fi memorabilia with certificates of authenticity. A uniform actually worn by Patrick Stewart on screen sells for more than one that was made for him but not worn, which sells for more than a copy made…
A huge payment for a piece of art is also a convenient way to legitimately pay for goods or services that you don’t want to be assoicated with.
Eh, kind of. If buyer A is trying to obfuscate transmitting $100 to the seller, and the painting would normally sell at auction for $7, then somehow buyer A needs to boost the auction sale price up to $107.
I’m not saying that it can’t be done - just that for the paintings that do sell for over a hundred million dollars, there usually really are people and organizations at the auctions who believe the paintings are worth that much.
Re: Salvator Mundi and the unreality of the art market
#7Fine art is also the most efficient way to launder money.
The reason for the rapid increase in value is completely inscrutable to regulators or the IRS, so it is the perfect tool of international financial fraud.
Re: Salvator Mundi and the unreality of the art market
#8It's not just the art market, though. The numbers are absurd in the fine art market, since it's a place where rich people go to compete with each other in games the rest of us don't get to play. But eBay is full of sci-fi memorabilia with certificates of authenticity. A uniform actually worn by Patrick Stewart on screen sells for more than one that was made for him but not worn, which sells for more than a copy made…
I have a running debate with one of my friends about the future outlook of these markets. We both agree that perfect replication of many physical collectibles (e.g. mtg cards, comic books) will become possible over the next few decades. My belief is that this will cause authentic values to decline. His belief is that this will cause authentic values - confirmed by certificates and the like - to skyrocket. I still pre…
>> replication of many physical collectibles (e.g. mtg cards, comic books) will become possible over the next few decades.
Good luck perfectly replicating the printing press, laminating machines, holographic features and paper required for it.
Re: Salvator Mundi and the unreality of the art market
#9It's not just the art market, though. The numbers are absurd in the fine art market, since it's a place where rich people go to compete with each other in games the rest of us don't get to play. But eBay is full of sci-fi memorabilia with certificates of authenticity. A uniform actually worn by Patrick Stewart on screen sells for more than one that was made for him but not worn, which sells for more than a copy made…
I have a running debate with one of my friends about the future outlook of these markets. We both agree that perfect replication of many physical collectibles (e.g. mtg cards, comic books) will become possible over the next few decades. My belief is that this will cause authentic values to decline. His belief is that this will cause authentic values - confirmed by certificates and the like - to skyrocket. I still pre…
https://archive.archaeology.org/online/features/hoaxes/intro...
The archaeology community has been dealing with this for years, and supplied this interesting read.
The art market, though, I assume is mostly money laundering.
Re: Salvator Mundi and the unreality of the art market
#10Fine art is also the most efficient way to launder money. The reason for the rapid increase in value is completely inscrutable to regulators or the IRS, so it is the perfect tool of international financial fraud.
fraud is one of it but it's also a extremely high density store of value, if world war 111 happens it's easier to take your da vinci knowing when the dust settles it'll have value than 100 bars of gold