Comment 19372

By An_artist_who_knows_more_art_history_tha (anonymous) | Posted February 28, 2008 at 06:46:49

You write:

"Really, I find it obnoxious that any work of art can trade for $100,000,000 USD whether it's by Pollock, Van Gogh or Rembrandt. In a better world art masterpieces would, without money changing hands, be placed on a public wall for all to see and wealth would be distributed so that everyone could eat, have access to the best health care, and we'd all work at this mess of environmental unsustainability and pointless military invasions we've gotten ourselves into."

I beg to differ. The sums spent on paintings do not tie up either money or resources. Indeed, they make money flow more freely. Suppose you own a painting that cost a few hundred dollars to make (parts and labour), but now is worth a few million. This will can be used as security borrow money and invest, so money is freed up by such art that would probably not otherwise be available. Far better that rich people should spend their money on bits of canvas and paper than on things that really waste resources, such as building huge stone pyramids.

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