Pay millions of dollars for an art  

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.

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.

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

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.

Paying such a huge amount is crazy,rather I would like to buy a sports car then to buy an artwork.

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.

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.

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.

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.

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.