Auction record set, $179.4 million for Picasso, whew, Bubblicious Bubble

...so how many dollars do think an original Picasso should be worth?
"Should?" I have no idea. I don't think anyone does. I don't even think it's a fair question. But I suppose that people with more money than they know what to do with will, as always, set the price on these things.
 
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One of the two oil versions of The Scream probably could fetch a Billion dollars if it was auctioned off.


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:)
 
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This is an Untitled Cy Twombly from 1970.... I wont tell you how much it sold for

Lets just say it passed all estimates at auction
 
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Barnett Newman


This piece was sold in 2013 for a record price, beating out the previous record by 100% that someone paid for another Barnett just a year earlier
 
Who cares about QE being a contributing factor? The fact is that these art sales records actually happened and will likely continue to happen. You seem to be stuck in this infinite loop where you call anything that appreciates a "bubble". Last week you were calling the housing market a bubble. This week it's the art market. A couple weeks ago it was startup company valuations. Last Friday you called a bubble just because a freakin' chicken and biscuit company filed for an IPO. Give me a break!


Everything I have mentioned from art sales, to housing to startups and bojangles is all because of QE, everyone believes all these markets and the other thousands around them have nothing to do with QE, they are wrong, QE has everything to do with what is happening today and why asset prices are where they are and why we are paying what we pay for goods and services and auctions and IPOS, the fed has created an unleveled playing field, a playing field that has NEVER existed before in any time in human history where nothing involves true market pricing or value but rather a fantasy like world where trillions are printed and distributed from the top down....
 
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