Pay millions of dollars for an art

@ongtina (1232)
Singapore
May 14, 2010 4:37am CST
Seen news that an artwork is sold for millions of dollars? Would you spend such large amount and bid for an artwork in auction ( imagine you are very rich and can afford ). What purpose does it serve doing that? And after the art is won, is it taken home? Who receives the money or how many percent of it shared among who since the artist usually is long gone from the earth.
2 people like this
15 responses
@marguicha (91714)
• Chile
14 May 10
If I were a millionaire and could buy some artwork that I have seen at museums, I would not mind buying them to have them at my house. There are some pictures I would never grow tired of watching. I´d have some of Vincent Van Gogh pictures, some of Picasso and Dali, I´d bid for the Boticelli´s that are in Florence. But probably one should not have all that in one´s house. It´s so wonderful to be abke to see them at a museum without being rich! Iread your post but did not think on where the money went but of the pleasure I´d have if I saw them.
1 person likes this
@zed_k4 (17627)
• Singapore
15 May 10
Ah..so you are an art lover, that's really cool.
@marguicha (91714)
• Chile
15 May 10
It´s so easy to love beauty!
@megamatt (14331)
• United States
14 May 10
Artwork - A picture of a generic piece of artwork
Well, I would not really spend that much money for anything, much less art. True, artwork may have some value and I might be able to sell it again, to make a slight profit when it has increased in value. However, waiting around for that to happen might be something that I really do not have the patience to do. Plus, there is always the chance that it would go down in value. I would guess that the descendants of the artists would get a cut of what profit the painting brings in. At least that makes the most sense to me. As for how much of a percentage, who is to say. Of course, who knows. There are just a lot of eccentric millionaires on there who like to collect art and thus they spend these insane amounts. I guess some just have a lot of the art of, well art.
@zed_k4 (17627)
• Singapore
15 May 10
Eccentric millionaires, interesting term..
• United States
15 May 10
I think art don't have to be expensive to be beautiful. While a piece of art like the Mona Lisa is really magnificent, I find paintings that my friend's mother make to be just as beautiful. A painter don't have to be a famous artist to make something beautiful. Expensive art might have its values but for me, even if I'm rich, I would use my money for something more tangible like a swimming pool or something.
@ongtina (1232)
• Singapore
15 May 10
Yes, it doesn't have to be expensive to be beautiful.
@LotRowena (159)
• Philippines
14 May 10
Actually millions of dollars is not worth it as compared to the price of a very talented and gifted person. If only I have the money, why not? I will be spending large amount of money and bid and if possible win the bidding. I think I will do this because my passion calls for it also, I can afford it. And for all I know, the item auctioned goes to the winner but the proceeds of the sale will of course go to the organization or group of people who organized the event. And please don't forget that the art item is and should be patented. The right of the owner is always reserved.
@ongtina (1232)
• Singapore
15 May 10
A gifted talent is of course priceless. However, I'd rather enjoy viewing it than possessing it. The later part regarding the proceeds, do you mean the owner of the artwork(previously bought it) do not receive any money? Why did the owner allow the organiser to take their art to auction after spending so much to own it if they don't get any profit? And the ownership of the artwork, is it transferable like buying and selling of property?
@nsj947 (284)
• India
14 May 10
Paying such a huge amount is crazy,rather I would like to buy a sports car then to buy an artwork.
@ongtina (1232)
• Singapore
15 May 10
Haha, true, but I can't drive. I think I'd rather travel the world, enjoy all the luxurious hotels and see all the scenic spots in the world. Taste all the exotic food, etc,etc. Oh, I would buy apartments, houses or land. I think it's more profitable than art, eventhough I do like art.
• Indonesia
14 May 10
actually i've never attended such an auction like that. so, i have no idea where the money gone. once again, different people have different interest on something. maybe i won't spend that much money to buy a piece of art work. i have an interest in automotive, maybe collecting sport bikes or cars. we often see someone who spend a lot of money that we think it is silly. however, other people may think the same if we spend some money on a thing that we put our interest on.
@ongtina (1232)
• Singapore
15 May 10
I see your point but spending millions, that's a bit way off.
@camomile07 (1422)
• Germany
14 May 10
Art can be expensive but everything has got a limit. Even if I could afford it, I never would pay this amount for any art. In my case, I rather prefer to use that money (if I would have, but it's not the case) to help other people make life a bit easier and better. There are so many poor and ill people without any chance to change their life.
@ongtina (1232)
• Singapore
15 May 10
Me too. I think spending money(if I have) to help others is more worthwhile and satisfactory.
@angelajoy (1839)
• Philippines
15 May 10
If I become rich one day I don't think I'll spend that much money on artwork. I know that it takes real talent and effort to create that piece of art, but there are other things that I want so much more than artwork. With millions of dollars I could already buy a house or even a car, and those are more important to me.
• Indonesia
15 May 10
For me an artwork is a heart of its artist. It has nothing to do with how much it cost or how much we spend to buy or sell. Art is more about my appreciation to the artist. So if I rich and have many dollars I will buy an artwork that I really appreciate and keep it in my home. Price come up is only matter of economic. Less things High Price. It's just economic matter. Many people want then the price will up. Moreover, if the artwork is a masterpiece and many people like it I don't mind if I lend it to a museum so other can also see and enjoy the artwork. I'm glad when people appreciate an art. I also appreciate any artwork with low price. Everything that come with heart is that matter.
@benhilo (871)
• Tripoli, Libya
15 May 10
I, personally, would never pay a high price for art. However, if I could afford it, I would donate the art to a museum for all to see and enjoy. To me though, the best art I have are from people I knew personally.
• United States
15 May 10
Art Work can be expensive and pricey. For mysake I would never buy any. Sometimes it holds value and memories of generations from the past. It serves purpose. Sometimes it holds cloture to families. Sometimes the money is donated to charities or deserving purposes.
@zed_k4 (17627)
• Singapore
15 May 10
I think even if I'm rich, I won't do that. Unless the painting is really rare, but then again, I'd think twice, thrice, even for a fourth time, ha. To spend millions of dollars for a painting, that's pretty hard to digest. But I think some people see some sentimental value or a creative form of piece that they appreciate and would like to have. Since the starting price is already high, they have to bid slightly more and more so when there are other competitors bidding higher than them. To get the best price, hence the final bid may take millions of dollars. I don't understand this concept, but it's happening and people are still bidding as we speak. But it might make sense if the purchased product is unique and has a high selling value in the future.
@maxyl12 (239)
• Philippines
14 May 10
I love art But I will not go in buying for millions of cash for it. I mean, whats the use. Its for display only. Well maybe to some they would spend. But for me, not a chance.
• China
14 May 10
If I were rich I think maybe I will spend large amount money for an artworks even it cost millions of dollars. I think an artwors sold for millions of dollars is reasonable for those thing belong to something that couldn't be repeated and the only one thing in history.
• India
14 May 10
No never .How ever good it may be but i will never spend so much on such art as i think it is just a mtter of showbiz and nothing else