One day when we become successful and rich, we will buy a large house. When we move in, those 13 foot high walls will be bare and begging to be decorated with the world’s most coveted art. So why not learn about it now?
2007 was a big year for the art market. Sotheby’s and Christie’s International came in around $5 and $6 billion respectively in the auction sale of fine and decorative arts. The best sellers? At Sotheby’s - Mark Rothko’s “White Center (Yellow, Pink, and Lavender on Rose)” for $72.8 million. At Christie’s - Andy Warhol’s “Green Car Crash” for $71.7 million.
Oddly enough, my entry level day dreaming about a future lifestyle among the rich and famous never once included writing a $70 million dollar check for a pastel picture that looks like the slice of three-tiered cake at every corner bakery or a blurry photo of an upside down car accented with that trendy teal best known for its overuse on the 1991 Ford Explorer. I found the most shocking sale to be a 3-inch limestone statue of a lioness that went for $57 million. It might be ancient but it’s still smaller than my computer mouse and made out of a material on sale at Home Depot.
I hope my houseguests aren’t offended when I bypass insanely overpriced art and hang up the collectable I acquired in college - that classic piece of photography featuring John Belushi wearing a sweater labeled “College.” They’ll be grateful when the sixteen dollars I spend a hammer and nails leaves me enough leftover in the decorating budget to serve them filet mignon for the rest of their lives.
Inspired by “Buoyant Art Market Draws International Buyers” by Kelly Crow. The Wall Street Journal. Wednesday, January 2, 2008.
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