Why are some artwork sold for millions that look like some child splashed colors at random on a canvas?
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Art is very weird, but to answer your question, we have to talk about why people buy very expensive artwork. Its best to think of each piece of art like an investment. I’m willing to spend $1million today because I think this piece of unique art will be worth more in the future. In essence I’m speculating on the future value of the art. What the art looks like isn’t that important.
If a new piece of art is up for sale, and it was made by someone famous, that might be a great opportunity for me to get it now, and then hold onto it for a few decades. In theory, that art will get more valuable, and someone down the road will pay me even more for it.
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