Jeff Stahler for November 14, 2013

Stupid is not limited to the poor…

I understand why someone would make the painting, but I don’t understand the prices. And of course the artist isn’t the one who makes all the money. A perfect example of capitalism in action — don’t reward the work, reward the financial transaction.

No wonder they can’t understand it. It’s hanging upside down!

“My kid could do that.”

You guys are in fine form today. Good job.

The BBC ran a documentary on it a while back.

What you do is to buy a ton of M.A.Hack’s paintings for the price that they are actually worth.

Next you buy another Hack for millions of dollars. Now your collection is ‘officially’ worth millions.

Then you donate the collection to a museum.

And then you deduct the value off your taxes.

Veblen.

My father-in-law is an abstract artist, much in the mould of Rothco. So I asked my 5 year old daughter what she thought of Opa’s paintings. She simply replied that he could paint feelings. My wife “suffers” from synaesthesia; her variant being that when she reads letters of the alphabet & numerals, they are always associated with certain colours.I’d guess many abstract artists, or any artists for that matter, are synesthetes. Some people can smell colours, see music; why not paint feelings. Many who have this probably are unaware of it.I do wonder whether my daughter has a variation of it. It’d be fun. ;-)

But to understand those who buy[i.e.“invest” in] works of art for stupid amounts of money, I think I’ll need to start reading Veblen.(my f-i-l’s art sells for much, much less on average. In line with the fact lonecat pointed out above: “reward the financial transaction”, not the one who made the art.We’re waiting for him to die to realise substantial profits on our “investments”. :-| )