re: "Fine Art" painting sold at auction for $111M

I don't get it. I try to auction large original works annually for a local fundraiser and only net $600, yet someone drops millions on this colorful brain fart- because it is collectible artist.
I couldn't move this piece for $200 (for charity) and it's 2'x2' on wooden canvas. The art market is ridiculous.

And, as usual, Michael Wincott steals every scene he's in as Rene Ricard.

I gave it away as a gift after the fundraiser because no one bought it. It is also a maze and I'm surprised no one wanted it.

I sell originals and prints of art in October and give profits to one of our breast cancer patients. We sold at least 20 photo prints of the zebra piece but no one bought the original.

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Basquiat is so fricking overrated. If he had been a middle-class art student from the midwest, no one would give his art a second look.

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Eh, some of his stuff is pretty cool, as far as modern art goes. I don't believe he wouldn't get a second look.

That said, his relationship with Warhol and dying young certainly helps his legacy and the value of his work. I doubt he would be regarded as highly otherwise.

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This is true. However, you could potentially be making this up since you are the only one in this thread who has ever heard of him before this thread.

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I've heard of him before, there is even a movie from around 1997, based on his life, titled "Basquiat" (or however you spell it).

Like some one said earlier, he dated Madonna, hung around with Andy Warhol. He was not a nobody.

Three of his pieces were on "Pawn Stars", they picked them up for $60,000 (small 5x7 pieces)

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I don't get it. I try to auction large original works annually for a local fundraiser and only net $600, yet someone drops millions on this colorful brain fart- because it is collectible artist.

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One of my friends is an economist who explained how the art collectors market works as a tax/investment shelter. I'm not smart enough to explain it, but it made sense when he explained it. Because of the size of the high dollar art market, it only takes a relatively small number of influencers to drastically alter value.

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and that this masterpiece by the 21-year-old Basquiat inspires our future generations," he said in a statement.

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How exactly is that suppose to "inspire" me?

To be honest, I would pay $82,000,040 and not a penny more.

Imagine what if would be worth if it were on velvet rather than canvas?

Here's a wonderful troll of the modern art idiots

LINK

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You realize Basquiat was an enormous figure in modern art right? The price tag is absurd but you sound like an idiot.

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That's the point here. How is he an enormous figure?Have you seen the dudes art?? It looks terrible. How that is even valuable is beyond me