Picasso painting sells for £115 MILLION!

[Wrong-Direction]

...and it looks like a child threw it together!
Do people "into" art have more money then sense?

 

[Pintos]

Blame the Tories for making the rich richer...

 

[BBassic]

"Art is in the eye of the beholder".

At that sort of money I would wager it's been bought by a collector, not necessarily an appreciator of art. Could be both I guess. Regardless, you buy a piece of history like a Picasso for £115m and you're probably hoping its going to increase in value for a profit later.

 

[TomandJerry]

The action house got 12% of this..

 

[tinycowboy]

...and it looks like a child threw it together!
Do people "into" art have more money then sense?

If they manage to sell it on to another megalomaniac for a profit in 10 years' time, they'll consider themselves very shrewd. However, you have to say that this appears to be tremendously expensive - important piece of art or not - but, like houses in central London, the top end of the art world is part of a bubble-like market driven by the super-rich's conspicuous consumption. Maybe the bubble will never burst?

 

[Thunder Bolt]

Art isn't necessarily bought and sold for it's aesthetic value, but because it's viewed as a good investment. It will probably be kept in a bank vault, if it has gone to a private collector.

 

[Mr Bridger]

Just another currency