A Touch of Class VII – $1,000,000 For That?
Readers of my previous fine arts posts (for example, here) have no doubt noticed a pattern: all of the art I’ve highlighted has been quite old. The reason being that modern art tends to be over-priced crap. To prove my point, let’s take a look at some of the offerings from Christie’s Post War & Contemporary Art Evening Sale tonight at Rockefeller Center in New York.For example, consider this untitled piece by Christopher Wool that is estimated to sell for between $1,000,000 and $1,500,000:
If my name happened to be Rund Ogea Tdog, I might consider paying $50 for it and hanging it on my front gate. (For $1,000,000 you could have at least come up with a name for it – I suggest Rund Ogea Tdog)
No modern art auction would be complete without a Warhol painting of a Campbell’s soup can and Christie’s has “Small Torn Campbell’s Soup Can (Pepper Pot)” estimated at $10,000,000 to $15,000,000:
The total value of all of Warhol’s Campbell’s soup can paintings has got to be astronomical. Whoever came up with the Campbell’s soup can design must have gone nuts. I assume it is the work of some anonymous graphic designer who maybe got a bonus of a couple hundred bucks and then had to sit and watch Warhol make millions off the design.
At least Warhol’s paintings look like something. Most modern art doesn’t even reach that level. For example, Basquiat’s “M” ($1,500,000 to $2,500,000) looks like the doodlimg of a troubled teenager:
And then there is “Tornado Warning” by Myles ($1,200,000 to $1,500,000) that looks like the work of a talented five year old:
Finally, there’s the genre of geometric shapes, like “Elements V” by Marden ($1,500,000 to $2,000,000):
New York City has got to be full of struggling artists going around saying: “My rectangles are just as rectangular as Marden’s. He makes millions a painting and I can’t sell a single one at $29.95”. Is it any wonder that contemporary artists are all a bunch of commies with no faith in the free market?
Christopher Wool’s Untitled sold for $1,080,000.
Andy Warhol’s “Torn Campbell’s Soup Can (Pepper Pot)” sold for $11,776,000.
Jean-Michel Basquiat’s “M” sold for $2,928,000.
Brice Marden’s “Elements V” sold for $2,984,000.
Myles’ “Tornado Warning” is still available and has been marked down to $999,999.99.