Sunday, June 25, 2006

how then to determine value ?


over the last few weeks, the art world (and anybody else who might have chanced across the info) has been shocked by astronomical sums fetched at auction for three paintings. the most recent jaw-dropper was lauder's purchase of a klimt for $135 million. that was preceded by a modigliani for a relatively modest $30 mill, and right before that, a picasso for a cool $95 large.

these sorts of things defy logic and it's mind-bending for most of us to think that checks in the range of $100 million represent essentially disposable income for the buyers.

beyond the staggering size of the transactions, what drew my attention is that the three portraits are of the artists' mistresses. eventually all the women were discarded. one became a recluse, and the two others committed suicide.

all three geniuses viewed these women as dispensable, replaceable and so, by inference, worthless. what is it then that now makes them so valuable to another man?

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