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

S2007S said:
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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This is ridiculous. The UHNW's who purchase this type of art, do so regardless of QE--- if the markets crashed with no QE, the short sellers would be buying the art. Please study real economics before you comment and not some type of socialist agenda material. surf
 
marketsurfer said:
This is ridiculous. The UHNW's who purchase this type of art, do so regardless of QE--- if the markets crashed with no QE, the short sellers would be buying the art. Please study real economics before you comment and not some type of socialist agenda material. surf
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They would purchase art regardless of QE, I never said they wouldn't, what I did say was the value one was willing to pay and the amount that has been paid at record prices was because of QE and the other stimulus set forth by other countries....there is no such thing as real economics in these market conditions, once the fed came in and introduced all these programs and bailouts to the market place during the last financial crisis everything you learned about economics 101 was thrown out...it doesn't exist in a market environment controlled by the fed and central banks...
 
S2007S said:
They would purchase art regardless of QE, I never said they wouldn't, what I did say was the value one was willing to pay and the amount that has been paid at record prices was because of QE and the other stimulus set forth by other countries....there is no such thing as real economics in these market conditions, once the fed came in and introduced all these programs and bailouts to the market place during the last financial crisis everything you learned about economics 101 was thrown out...it doesn't exist in a market environment controlled by the fed and central banks...
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Im not following-- what market environment isn't controlled by central banks? Even my local flea market uses Square thus the banking system.
 
As a small time example, I bought some unknown street artist stuff back in 1998/99 for under $500 per piece. Right now, it sells for between $7 and $10k--- i bought it because i like it, never expected nor cared if it appreciated, but it is nice that it did. surf
 
marketsurfer said:
As a small time example, I bought some unknown street artist stuff back in 1998/99 for under $500 per piece. Right now, it sells for between $7 and $10k--- i bought it because i like it, never expected nor cared if it appreciated, but it is nice that it did. surf
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marketsurfer said:
I would argue that if any musician only made one recording it would be worthless. Since the person would by definition be unknown and unknown musicians do not sell. surf
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I see the confusion. Let me know explain. The artist was unknown when I purchased the art. He has since created thousands of paintings hence the popularity and invreased value of his older material.

My unknown comment was in response to a pist stating how much a musical recording of jimi hendrix would be worth if he only made a single example. Just like my art-- it would be worthless if only one example was ever created. surf
 
marketsurfer said:
I see the confusion. Let me know explain. The artist was unknown when I purchased the art. He has since created thousands of paintings hence the popularity and invreased value of his older material.

My unknown comment was in response to a pist stating how much a musical recording of jimi hendrix would be worth if he only made a single example. Just like my art-- it would be worthless if only one example was ever created. surf
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what is a pist? I have two bootlegs, one recorded in LA at the forumn and another live in Hawaii. I don't know how much they are worth dollar wise, but musically there are some cuts which far exceed anything he did in the studio, in my humble opinion. And he hated playing live, and I don't blame him, but those studios are not cheap. And if I had a recorder, I would have one of Coltrane wailing away the night Elvin Jones walked off the stage to get loaded.
 
loyek590 said:
what is a pist? I have two bootlegs, one recorded in LA at the forumn and another live in Hawaii. I don't know how much they are worth dollar wise, but musically there are some cuts which far exceed anything he did in the studio, in my humble opinion. And he hated playing live, and I don't blame him, but those studios are not cheap. And if I had a recorder, I would have one of Coltrane wailing away the night Elvin Jones walked off the stage to get loaded.
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That's very cool. I bet they are very valuable because of his popularity and influence on today's music.
 
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