U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-14-2018, 04:18 PM
 
Location: North Idaho
21,077 posts, read 25,994,640 times
Reputation: 39589

Advertisements

I don't care for the artist myself. If I'm buying art, I want something I enjoy looking at, so I will leave the Twombley paintings for someone who enjoys them. Same for Andy Warhol. Not my cup of tea.
Reply With Quote Quick reply to this message

 
Old 08-15-2018, 10:10 AM
 
9,371 posts, read 11,236,550 times
Reputation: 12573
Quote:
Originally Posted by TechGromit View Post
Art is a very risky investment, not all art increases in value. As tastes change, Art can go significantly up or down in value. And it's not like stocks, Art that is "out of favor" could remain that way for decades or longer. Some Art is also purchased by "uneducated" art collectors, they way over pay for something, giving them bragging rights, look how rich I am, I paid X million dollars for this. When fortunes change, that same Art is often sold at fire sale prices, to raise capital.


One case in point would be David Lee Edwards, after winning the lottery for 27 million dollars after taxes, he burned through 12 million dollars in his first year alone. Besides cars and mansions, one thing he brought was Art, wildly over paying, when he ran out of money and was looking to raise cash, his Art was sold for pennies on the dollar. There have been far more wealthy sports stars and instant internet millionaires that met with the same fate.
1st part is spot on......

2nd part- less so. My aunt was his neighbor, it was 24/7 mayhem for years until he lost the house to foreclosure. He was an ex-con from Kentucky and unfortunately got sold lots of fake stuff. He frequently doubled down on his trinkets.....tell him there are only 2 in the world and he would have bought both!

For those of you who don't know David (his story starts at the 1:11 mark)

https://www.youtube.com/watch?v=OztVd_Q2m5s
Reply With Quote Quick reply to this message
 
Old 08-16-2018, 02:21 PM
 
Location: Boston
5,106 posts, read 1,487,855 times
Reputation: 3742
this should raise the spirits of those living paycheck to paycheck. Someday if they work hard, they can be rich too.
Reply With Quote Quick reply to this message
 
Old 09-22-2018, 05:28 AM
 
394 posts, read 232,768 times
Reputation: 384
Bet ya the artist never thought in a million years some fool would pay 46 mil for that. He is probably working on his next one.
Reply With Quote Quick reply to this message
 
Old 09-22-2018, 07:14 AM
 
Location: The analog world
15,948 posts, read 8,875,755 times
Reputation: 21333
Quote:
Originally Posted by tj2013 View Post
Bet ya the artist never thought in a million years some fool would pay 46 mil for that. He is probably working on his next one.
The artist, Cy Twombly, died in 2011.
Reply With Quote Quick reply to this message
 
Old 09-22-2018, 10:25 AM
 
Location: too far from the sea
18,149 posts, read 17,291,910 times
Reputation: 30393
I'm not a fan of modern art but often I can appreciate it and understand why it might have value. I hated Andy Warhol's stuff when it first came out and laughed at it. I still hate it but now it's worth big money. I don't really understand why.

Maybe it's all in the name. Maybe a name catches on and people get all excited about it.

Sometimes a painting can be ugly but it gets the message across successfully. That could equal monetary value.

But these red spirals? Absolutely nothing. They remind me of a ball of red yarn or someone scribbling to see if their pen works. As far as I'm concerned, we've gone too far with art, pretending that it's high quality when it isn't. Today, good painting doesn't seem to have much of a place because we have great cameras instead and the modern artists seem to already have tried just about everything. So I would have to see a bit of realism mixed in with the wildly, meaningless abstract. At what point does a painting become meaningless and over the top? This painting falls into that category for me. Hoping it becomes worthless!
__________________
my posts as moderator will be in red. Moderator: Health&Wellness~Genealogy. The Rules--read here>>> TOS. If someone attacks you, do not reply. Hit REPORT.
Reply With Quote Quick reply to this message
 
Old 09-23-2018, 02:50 PM
 
6,859 posts, read 4,452,899 times
Reputation: 12031
Am I here the first fool, to be beguiled by the Greater Fool Theory? Who cares if the thing being traded lacks substance, let alone art? Is the market not currently agog, with mere mathematical calculations, packaged as "currency"? Who "mines" a set of numbers, by watching a set of graphics-cards reject waste-heat? But so it is, and people gladly pay.

There's a compelling reason to believe, that all wealth's a swindle and a ruse, exploiting gullibility and fashion. What's a prized condo worth, atop a building overlooking stifling traffic, commotion and a street-scene buzz, where buzz itself is cause of imputed value? How can it be ten million dollars, even if the balcony is cozy, and the railing artistically-wrought? But people pay, and others will pay even more.

Who says that stock P/E ought to numerically be twice the annual percentage earnings growth-rate? Yet that's the rule, and seemingly it holds... it is especially favored by the self-styled prudent sort, who much decry "lofting valuations" and the like... an arbitrary rule, best beloved by hard-nosed realists. Ironic?

I'd to pay $46 dollars for those squiggles, let alone six zeros tacked upon the rear. But then again, I'm the unimaginative buy-and-hold type.
Reply With Quote Quick reply to this message
 
Old 09-23-2018, 03:02 PM
ptt
 
404 posts, read 403,059 times
Reputation: 585
I love Cy Twomby. To own one of his work would be my wildest dream come true.
Reply With Quote Quick reply to this message
 
Old 09-26-2018, 12:19 PM
 
4,416 posts, read 5,322,068 times
Reputation: 4470
I could make you a really good imitation in about 5 minutes and I’d sell it to you for only $10,000! A total bargain really.
Reply With Quote Quick reply to this message
 
Old 09-27-2018, 09:34 AM
 
3,717 posts, read 3,045,624 times
Reputation: 10103
Art has greatly changed through the last few centuries, and Cy Twombly was an artist who cared little about the modern day critics, especially those who challenged every artist for their "sin" of failing to court the masses. All art at some level becomes the artists conceptual labor rather than a utilitarian offering. And artists such as Twombly paint for their own enjoyment rather than becoming compromised by the old school notions of Art benefactors fleecing the talent of others. As for the price of Twombly's work, it's simply a price tag meant for those with lots of money, so, no wonder most don't "get it."
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top