Bull or Bear Art Market?

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If you count all your assets, you always show a profit.”                              ~ Robert Quillen 

Who said art is not selling during these economic times? Who said we have all returned to frugality? And of all things, who said there is no value in being an artist?

All the skeptics have been proven wrong! “L’ Homme Qui Marche 1”  (Marching Man 1) was sold within 8 minutes of the opening bid to anonymous buyer at a London auction.  The opening bid was 12 million pounds and it sold for 65 million pounds ($103.4 million dollars) and the guy is not even a CEO!!! He is a piece of sculpture!! Imagine that!

The sculpture is a thin, wiry figure of 72 inches in height, crafted by 20th century Swiss artist Giacometti.  The last time one of this artist’s sculptures was auctioned off was 20 years ago, and it sold for 6.82 million.  Wednesday’s sale of “L’Homme Qui Marche 1” set a world record. It is reportedly “the most expensive piece of art ever sold” by Sotheby’s auction house.

The sculpture is said to be “both a humble image of an ordinary man, and a potent symbol of humanity.” Well- the value placed on that walking man’s head was not humble!! As for being a symbol of humanity,  we do sometimes attach that kind of  high value to some men or women walking around today, whether we agree with it or not!

Don’t get me wrong, if the artist was alive today, I would say “good for you, Mr. Giacometti, for being able to garner that kind of value from your artistic talents!”

Can anyone help me calculate what the profit per square inch of sculpted wire would be?

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