Quote:
Originally Posted by redpoint5
I never understood art prices. I can get a very good replica of any famous art piece, at a fraction of the price, and it will contain 99.9% of the beauty of the original.
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It's simply conspicuous consumption, plus "outsiders" with lots of money wanting to buy acceptance into the social circles in which collecting expensive stuff is considered important. And then of course there's the "Emperor's New Clothes" effect: as with "Banksy", once something becomes validated by critics and people paying large amounts of money, no one dares to say it's crap. See e.g.
The $12 Million Stuffed Shark: The Curious Economics of Contemporary Art
WRT the self-destructing "art", I can just see the horde of hungry lawyers now...