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Fake Da Vinci sells for $450M (1 Viewer)

This whole art thing is nothing but an ego trip right?  Even if legit $450M for something so fragile and that deteriorates over time?  Stupid.

 
James Daulton said:
This whole art thing is nothing but an ego trip right?  Even if legit $450M for something so fragile and that deteriorates over time?  Stupid.
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Like buying a tropical island that might be gone a hundred years from now due to rising sea levels. Stupid...

 
James Daulton said:
At least with that you have a freaking island.  This is a what, 3 by 4 painting?  In an world fraught with forgeries?  F that.
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I think that with that kind of wealth you run out of more material things to spend it on.

That aside, the painting will probably outlast the island :P  

 
msommer said:
I think that with that kind of wealth you run out of more material things to spend it on.

That aside, the painting will probably outlast the island :P  
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For that kind of scratch you could buy the nicest yacht in the world I believe.  Instead you have a painting that may be a forgery. 

 
James Daulton said:
For that kind of scratch you could buy the nicest yacht in the world I believe.  Instead you have a painting that may be a forgery. 
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But if it gives you pleasure or peace to look at it? Hey, it's not my thing but who am I to judge.

$450m could do a lot of good if it was applied efficiently.

Instead it goes to an oligarch who already owns a football club. IMHO that's the real tragedy here

 
$450 million for a painting is another example of what's wrong in the world. So many living in squalor and this guy sinks nearly half a billion on some swirls of paint. Think of the lives that money could've changed. Instead it's the worlds most expensive room decoration. 

 
TheFanatic said:
$450 million for a painting is another example of what's wrong in the world. So many living in squalor and this guy sinks nearly half a billion on some swirls of paint. Think of the lives that money could've changed. Instead it's the worlds most expensive room decoration. 
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    Hypocrite alert.  Have you ever splurged on anything?    

 
The painting is an investment.  Was it worth $450 million 20 years ago?  What will it be worth in 20 years from now?  Look at how sports teams have skyrocketed in value.  Things that can’t be reproduced can produce great financial investments. 

 
Billionaires collect stuff like the rest of us.
I'd own a gallery of Rothko and Albers works if I had that kind of money.

 
James Daulton said:
For that kind of scratch you could buy the nicest yacht in the world I believe.  Instead you have a painting that may be a forgery. 
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Dude, do you even KNOW how much it costs to operate a yacht like that? 

I mean, half of us FBGs could buy the $450B yacht, it's the use and upkeep that would kill us.

 
TheFanatic said:
$450 million for a painting is another example of what's wrong in the world. So many living in squalor and this guy sinks nearly half a billion on some swirls of paint. Think of the lives that money could've changed. Instead it's the worlds most expensive room decoration. 
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Don't most people buy art like this as an investment, rather than a decoration?  I would think that most pieces like this are displayed in public galleries, even if privately owned.

 
bigbottom said:
Don't most people buy art like this as an investment, rather than a decoration?  I would think that most pieces like this are displayed in public galleries, even if privately owned.
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And the cycle repeats. So in 20 years, he's going to sell it to some other billionaire for $750 million?

 
Super wealthy people are very interested in asset accumulation.   Go back through time and you will see that currency generally loses value while certain types of assets gain value.   Look at a 30 year old chart of the stock market vs the dollar, real estate versus the dollar, gold/diamond market versus the dollar, classic cars vs the dollar, major works of art versus the dollar..etc.    That painting could easily be worth a billion in 20 years.     While I would never spend that kind of money on a painting even if I had the money--but I'd certainly rather buy that painting than a yacht.  A yacht is an asset that eventually will depreciate to the value of the scrap metal that it is created from. On top of that--a  $450 million dollar yacht would cost millions/tens of millions of dollars per year to maintain/staff/register/fuel and own.   An intelligent super wealthy person would just charter a yacht for the few weeks of the year that he/she would want to use one.

 
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