My favorite of the modern artists are Kandinsky and Basquiat. If I had those kinds of resources, I wouldn't mind dropping serious dough for either of them.
When my mother was a teenager she had the opportunity to buy a painting from an up-and-coming artist whom she really liked for $400, but it was a lot of money for her at the time, so she passed. Who was the artist? Andy Warhol.
I don't think that artists like Newman are a scam, but I do find the prices baffling.
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