Basquiat Sells for $110.5 Million at Auction

[canuck]

A lot of sour people up in here.

[PhishTaylorNYE]

Pretty sure that painting is what Bane would look like without the mask.

[earlgreytoast]

You gotta give the man props. Drops 9 figures on a piece of art and says he going to loan it out to galleries so it can be seen by many. Dude!

That's what you do when you don't want to pay to insure it yourself. Put the responsibility on someone else.

lol uhhh, no. When you spend 110 mill on something, I don't think insurance costs are the reason you do ANYTHING.

[jkw3000]

I'm more pissed that he sniped my $110.4 million bid at the last second.

[gorkie]

Pretty sure that painting is what Bane would look like without the mask.

[Halo97]

You gotta give the man props. Drops 9 figures on a piece of art and says he going to loan it out to galleries so it can be seen by many. Dude!

and hope that someone falls into it like over in France a few years back and claim the insurance.

[recycler]

I love it when people compare Basquiat's work to that of any random third grader.

I just do.

Me too. Yes, you are correct it's not a completely probable claim that a third grader's abstract art is better, but it is a warranted claim that someone could mistake a third grader's work as professional abstract art.

https://arxiv.org/abs/1112.1669

In a nut shell, research has found that people can discern professional abstract art from amateur abstract art created by children, chimps, and elephants at a rate of approximately 66% of the time. Please remember that chance identification would be at 50% and the participants where only 16% better than chance.

This researcher compared that rate of 66% to the rate at which Olympic judges prefer the gold medalist to the silver medalist in figure skating, the preference for gold medalist was 73%. This data suggests professional and amateur abstract painters (children, chimps, and elephants) are more similar than gold and silver medalists.

Not the perfect study and follow-up, but still enough evidence to suggest people can get duped by amateur abstract painters.

[35mmpaul]

seriously people watch that video i posted. bowie breaks it down for ya.

[gorkie]

I love it when people compare Basquiat's work to that of any random third grader.

I just do.

Me too. Yes, you are correct it's not a completely probable claim that a third grader's abstract art is better, but it is a warranted claim that someone could mistake a third grader's work as professional abstract art.

https://arxiv.org/abs/1112.1669

In a nut shell, research has found that people can discern professional abstract art from amateur abstract art created by children, chimps, and elephants at a rate of approximately 66% of the time. Please remember that chance identification would be at 50% and the participants where only 16% better than chance.

This researcher compared that rate of 66% to the rate at which Olympic judges prefer the gold medalist to the silver medalist in figure skating, the preference for gold medalist was 73%. This data suggests professional and amateur abstract painters (children, chimps, and elephants) are more similar than gold and silver medalists.

Not the perfect study and follow-up, but still enough evidence to suggest people can get duped by amateur abstract painters.

And Cy Twombly's work looks like a second grader made it.

By the way, I just might add this to my sig...

Experiment shows that art students prefer abstract art to monkey art in about two-third of the cases.

[ToolFanFromWayBack]

You gotta give the man props. Drops 9 figures on a piece of art and says he going to loan it out to galleries so it can be seen by many. Dude!

That's what you do when you don't want to pay to insure it yourself. Put the responsibility on someone else.
But yeah... bad ass to let the public have the chance to see it.

Wait until someone tries to fix it

jesus.jpg

or some clumsy kid rips it
https://www.theguardian.com/world/2015/ ... r-painting

[mfaith]

By the way, I just might add this to my sig...

Experiment shows that art students prefer abstract art to monkey art in about two-third of the cases.

[o4phish20o]

You gotta give the man props. Drops 9 figures on a piece of art and says he going to loan it out to galleries so it can be seen by many. Dude!

That's what you do when you don't want to pay to insure it yourself. Put the responsibility on someone else.
But yeah... bad ass to let the public have the chance to see it.

Wait until someone tries to fix it

jesus.jpg

or some clumsy kid rips it
https://www.theguardian.com/world/2015/ ... r-painting

While the art could be ruined as mentioned above, the cost to insure a $110m painting (guy is only 41) for let's say 50 years, would probably get close to costing more than the art itself did. Not to mention theft risk. I'd rather leave that on someone else than worriying about my house getting robbed or the same thing happening by my own kids.

If anything goes wrong while on loan, you'd get paid the value back. Would sure allow me to sleep better at night.

Amazing work to own..... lucky dude

[PLUSH]

But will it flip?

[63schoeffling]

But will it flip?

Waffle time!

[nobokov]

You gotta give the man props. Drops 9 figures on a piece of art and says he going to loan it out to galleries so it can be seen by many. Dude!

That's what you do when you don't want to pay to insure it yourself. Put the responsibility on someone else.
But yeah... bad ass to let the public have the chance to see it.

Wait until someone tries to fix it

jesus.jpg

or some clumsy kid rips it
https://www.theguardian.com/world/2015/ ... r-painting

While the art could be ruined as mentioned above, the cost to insure a $110m painting (guy is only 41) for let's say 50 years, would probably get close to costing more than the art itself did. Not to mention theft risk. I'd rather leave that on someone else than worriying about my house getting robbed or the same thing happening by my own kids.

If anything goes wrong while on loan, you'd get paid the value back. Would sure allow me to sleep better at night.

Amazing work to own..... lucky dude

I think that his plans are to loan them out to various institutions so that the masses can see them after the art being tucked away for the last 30 years. Presumably he'll be charging those institutions a fee....