The most expensive paintings and reasons for buying

The most expensive paintings in the world why some people pay so much for them?

When there are art auctions, public or private, fabulous sums are paid for a work of art. Of millions or tens of millions years about 25 years ago, now known prices expressed in hundreds of millions of dollars. Are they worth both these works really?

A work of art has an intrinsic value that is based on the quality of work, the car, the related facts, creation time, legends and other own details. Extrinsic value refers to the market value also considers the intrinsic value, the profit margin set by the sellers after a marketing job that creates and maximizes expectations, identifying potential buyers and end sales process .

Usually, the galleries form a kind of cartel by which set in secret, the transaction values ​​and even appear to act independently, they share inside information about prospective customers and other details. "Production" (ie, works of art) gradually take them to market.

In the art market, supply is fixed and demand is shifted to the right so that equilibrium is achieved at higher prices. Vendors or dealers have discovered the mechanism for causing the curve to shift well and equilibrate at very high prices. One is the identification of buyers who do not want the artwork itself but for other reasons.

The following chart shows that genuine interest in the work of art, the artist's work, from the emotional connotation that entails, is inversely related to the wreck paid. A normal person can offer an increasingly high price for a good job, but there is a limit not exceeding. If you can not buy it with the resources available, and although it does is frustrated, not you get sick of it.

It is also true that the more valuable or expensive is the work, there is greater enjoyment for possession and the possibility of contemplation, but also there is a limit of saturation. Obviously a work of art, painting and sculpture, low price does not generate as much satisfaction as the work more expensive. In the first case, can be works of students, early work and testing of a great artist; in the second case are the work of the senior artist, the artwork can have a legend behind a series of events that increase the intrinsic value.

People have a need to constantly increase the level of satisfaction, but everything has a limit. There is a price at which, and no additional joy is experienced. It's like wine. You can be the best wine in the world, the most expensive, but after a certain number of glasses, does not feel it or think about the unique qualities.

Pc critical last price, the buyer no longer values ​​the work of art in itself but related to the transaction as satisfying to have more money than others (economic power) facts, displace other competitors (personal power), by be the holder of a work coveted by many; it is very foreign to what you expect from a true art lover reasons.

The following figure shows the degree of distortion is observed in the assessment of the work of art in relation to the price. The higher the price, this distortion is increased. In the first part, before the saturation limit, the share of the demand curve D shows the normal behavior in which you pay extra to have the ownership of a work of art that is meaningful to the buyer. The buyer is satisfied by to admire your artwork.

On the demand curve D1, the distortion is evident in the behavior of the buyer. is not satisfied with the work of art in itself, but the knowledge of owning property, a valuable object. The buyer is satisfied for comparing a work of art, no matter who is not representing. They do not care a painting by Giotto, the Mona Lisa or a work of Picasso.

On the demand curve D2, the dominant feeling in the buyer is no longer even the possession of a valuable object with aesthetic content, but the feeling of raw power, the euphoria has to have shifted to other competitors, perhaps with some of them it was in direct competition now and savor his triumph.

D3 demand, the distortion is high. The move prosaic interests absolutely everybody that relates to art. Here the pleasure of paying more than all, the possibility of increasing wealth selling this work to others (speculation) is identified. Other less healthy intentions as money laundering also covers. It is not uncommon for many valuable works of art are in the hands of individuals or heads of groups outside the law.

In any case, it is true that almost none of them appreciate the intrinsic value of the work that will be saved in their armored tanks, none of them has the sensitivity to appreciate the colors, shapes, contrasts or facts about these works. They bought a very expensive object and keep a time to sell it at a profit.

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