So yesterday a shy deep pocketed individual dropped $120 million on "The Scream" an almost 120 year old painting basically paying $1 million for each year the painting has been around. With a major sale like this in the art world, comes many opinions, from art world insiders to art followers and lovers, and yesterday's sale saw an explosion across the social mediasphere. Some even questioning the math on the sale.
Robin Bew, Chief Economist at the Economist Intelligence Unit says of the $120 million: “That’s what massive global liquidity injections do to asset prices!” But it’s not just asset prices. The forward value of businesses are also being overestimated. Rakesh Agrawal of Venture Beat nailed that: “The Scream sells for 0.119 Instagrams. Pricey on a per-image basis. Few simultaneous uniques.” I’m not sure about the maths there.Here is the animated version of The Scream by Sebastian Cosor:
source: Forbes
