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Terry - Somerset

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For ordinary mortals there may be two main emotions:

- anger, as that sort of money could provide (for instance) accomodation for several hundredcrough sleepers (or whatever your preferred good cause is)

- pity, that someone is so deluded that they feel comfortable spending that sort of money on a few square feet of paint and canvas

Or perhaps it's the simple application of the truism that economic value is defined as what someone is prepared to pay - in this case because (I assume) they think it a good investment, or will impress the neighbours!
 

Robbo3

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If it ain't Constable quality I always think of the emperor's new clothes.
 

Trainee neophyte

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At the risk of being political, the Fed just started a new round of quantitative easing (which they deny). The money has to go somewhere, so stock markets up, art markets up, classic car etc, so on and so forth. Free money burning holes in super-rich pockets. Don't think of it as a high price - think of it as the currency used to buy it having no value. You need more bits of paper to buy the same thing you bought with fewer bits of paper last week.

Here's one possible future:
 

Pete Maddex

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Trainee neophyte":305kmcuj said:
At the risk of being political, the Fed just started a new round of quantitative easing (which they deny). The money has to go somewhere, so stock markets up, art markets up, classic car etc, so on and so forth. Free money burning holes in super-rich pockets. Don't think of it as a high price - think of it as the currency used to buy it having no value. You need more bits of paper to buy the same thing you bought with fewer bits of paper last week.

Here's one possible future:
I have on of thoes notes and a 10 trillion note.

Pete
 

Geoff_S

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Trainee neophyte":2leovopl said:
At the risk of being political, the Fed just started a new round of quantitative easing (which they deny). The money has to go somewhere, so stock markets up, art markets up, classic car etc, so on and so forth. Free money burning holes in super-rich pockets. Don't think of it as a high price - think of it as the currency used to buy it having no value. You need more bits of paper to buy the same thing you bought with fewer bits of paper last week.

Here's one possible future:
Do you get change?
 

sammy.se

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That painting was a good investment for someone back in 2006. Some art appreciates in value, and savvy art buyers know how to manage this.

It's all about perspective. I'm pretty sure that some of us buying a £300 arm chair, or one of your clients paying £1000 for a bookcase (Vs £80 in IKEA), is extravagant for some people...

Sent from my SM-G973F using Tapatalk
 

lurker

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I would guess the buyer is banking on ol' Hockney snuffing quite soon. They might get a very quick and profitable return on the investment.
 
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