Sure I love Picasso, and I think Alberto Giacometti is a fine sculptor, and I appreciate the fun work of Jean Dubuffet , but this is getting silly.
Christies Auction House on 5/12/15, got $179.3 million for a Picasso (highest auction price for a painting ever), $141.2 for a Giacometti, and a Dubuffet for $24.8
Lots of these sales are to people who buy and resell. I think there is a tulip mania about all of this. The art with the high prices was not the best by their artists IMO. Can’t help but think there will be a bubble burst here.
I think that bidders were missing the elephant in the room – the backlash against what modern art has become, and the groundswell for something new.
For resellers out there, here is my art work, titled “Buying before the Bust”. Price tag $179.4 million. Shipping included.