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  #21  
Old 05-19-2017, 02:47 PM
ls7plus ls7plus is offline
Larry
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Originally Posted by LEHR View Post
That was my point. This sale will only fuel the desire to own this piece or another piece from the artist in the future. Just because these were the only two bidders today doesn't mean they would be the only two bidders if the piece was put up for auction a year from now. At times the modern art market seems to me like a giant d**k measuring contest with far more money changing hands than in our sports hobby/industry.

Again, just my personal opinion.
Ah, but is that where we're heading in the next 2, 3, or 4 decades? The most valuable coin in a very well researched book on the top 100 coins was at around $20,000,000 7 or 8 years ago--it wasn't until the 1970's, as best I can recall, that one topped $100K. Watch out for the 1914 Baltimore News Ruth!

I know we hate to be priced out of the market, but thoughts, anyone?

Regards,

Larry
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  #22  
Old 05-19-2017, 05:34 PM
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Steve
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Don't get too excited, everyone. It may be telling that "Tobacco" -- also by Basquiat -- only sold for $1.2m.
http://www.sothebys.com/en/auctions/...761/lot.9.html

Seriously though, here are some quotes, papers, and links to consider. No opinions on my part.

https://www.nytimes.com/2017/05/18/a...t-auction.html

"...Mr. Maezawa, the 41-year-old founder of Contemporary Art Foundation, who last year set the previous auction high for Basquiat, paying $57.3 million for the artist’s large 1982 painting of a horned devil at Christie’s."

"Whether one active collector makes a market remains to be seen. It will take another major Basquiat to test the sustainability of this $100 million level."


http://www.brandeis.edu/departments/...ndeis_WP71.pdf

"One recent development is the third-party guarantee, also known as the irrevocable bid. The auction house finds a potential buyer who
agrees to pay a guaranteed price if the hammer price is lower. If the hammer price is higher, the seller and the guarantor split the difference after the commission, with some exceptions."

Would it be possible then, that the phone buyer was the third-party guarantor with knowledge that Mr. Maezawa would be a likely candidate to be bidding to win? Googling high-end art auction information leads one to a variety of interesting information. Several tactics in the art auction world may surprise people, myself included.

I believe the Sotheby's catalog did indicate that a third-party guarantor was utilized on this lot.

http://www.sothebys.com/en/auctions/...61/lot.24.html

Cheers,
Steve

Last edited by brass_rat; 05-19-2017 at 05:35 PM. Reason: Grammar error
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  #23  
Old 05-19-2017, 08:34 PM
steve B steve B is offline
Steve Birmingham
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Well, someone has to be the one saying it.

That painting is ugly as (expletive deleted)*
There's a few million other things I'd spend 110 mill on if I had that kind of money.

How can you tell if art is "expensive"?
If I really like it it's at least fairly expensive.
If I really hate it...it's REALLY expensive.

Steve B
*No, not actually deleted, I figured I'd save time and not write it.
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  #24  
Old 05-20-2017, 01:49 AM
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Kawika Kawika is offline
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There's a few million other things I'd spend 110 mill on if I had that kind of money.
Like thirty-thousand Kreindlers.
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  #25  
Old 05-20-2017, 10:56 AM
timzcardz timzcardz is offline
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I don't get it.

Oh well.
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  #26  
Old 05-20-2017, 02:20 PM
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My collection: The Festival of Bric-A-Brac
So... move out of your studio apartment! And try speaking to a real live woman, and GROW THE HELL UP! I mean, it's just baseball cards dammit, IT'S JUST BASEBALL CARDS!
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  #27  
Old 05-20-2017, 02:37 PM
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pawpawdiv9 pawpawdiv9 is offline
Chr!$ M!ll!c@n
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You can say this falls into ugly, but I love it!!
Its signed/numbered by Joan Miro
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  #28  
Old 05-20-2017, 04:44 PM
uniship uniship is offline
Eric Pugh
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Originally Posted by timzcardz View Post
I don't get it.

Oh well.
Bahaha.
Me neither.
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  #29  
Old 05-20-2017, 04:56 PM
mark evans mark evans is offline
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As with music, pretty subjective stuff. For myself, even if I had billions, I can't see spending that kind of money on a collectible.
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  #30  
Old 05-20-2017, 07:05 PM
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Quote:
Originally Posted by pawpawdiv9 View Post
You can say this falls into ugly, but I love it!!
Its signed/numbered by Joan Miro
Not at all, nice print!
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