So I was listening the news about a new art exhibition and paintings reached 80 millions of dollars, I can understand that if you have a lot of money you can afford that but let’s be honest, millionaires are millionaires because at least some of them are smart, me as normal person don’t believe buying a paint for 50-80 million is a smart move, is there something that I’m missing? Something that is not widely shared about those art subast?
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for some its love of the arts, for others it is to show their wealth but in the end you can see these things as investments.
buy a Picasso now, maybe he is more popular in 10 years, so you can sell it for twice that , etc.
it’s not like they’re burning money, it’s similar to buying a huge villa or jewelry
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