Arthas over time flourished becoming a national treasure. All theavailable decor and beauty in our homes, restaurants, workplaces andmuseums is all because of art. It is a bubble that can never burst.Auctioning works of art is a business that has gained popularity asit is a good source of income plus it is fun to those who have apassion for art.
Goingthrough Sotheby’s and Christie’s auction was an adventurousexperience. The master works are so captivating, and the liveauctions are entertaining. The prices for artworks are very highequaling the demand. Gleaners go out of their way to get works thatare worth thousands of dollars. These auction programs offer clientsthe opportunity for transactions. Clients can go through privategalleries, exhibitions that sell worldwide and also financing.
AtChristie’s for example, a silver tobacco box, English or Americangoes for 1,500 to 2,500 US Dollars. The price is relatively high butsells anyway. At Sotheby’s, a Latin America piece of modern workgoes for as high as 60,000 to 80,000 US Dollars. In the contemporaryart market sale, it is observed that there is a huge volume of worksthat go at lower prices. Collectively, however, contemporary art hashad a designation as the most expensive in the world.
Anotherquestion that would arise from this scenario is, why would collectorsgo that high to own a work by a certain artist? The reason it happensso is because, the collector can identify with the work or has someemotional attachment to that artist. The purchase could also be forthe sake of social status. They would go that extra mile also becausethey know the artist, and they follow them.