World most expensive art sold ever: 10 Things I Wish I'd Known Earlier

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All art has a purpose, but we will be Aristotelian about it although There's no universally agreed-upon response, and the degree that it is fit to that objective is the degree it is an excellent art.

Some could say it is right from a perspective and that art's real goal is to make our surroundings more pleasant. However, under this definition, wallpaper could count as art.

Professional opinion is all that counts as it requires training to assess not a specific tradition or an art maintains. Art seems to have a language all of its own, and the relationships we have from a heritage that is similar mostly determine the ways we respond to art.

Art ought to have something to offer to the audience. Great art seems to have a quality which enables it to surpass the tradition in. It is almost like even when you don't fully understand it; you understand that it has a lot to say. So in that way, everyone is able to judge art that is great to a point, but it is great to have people around that can read it properly, so we know whether it is great or whether it is a babbling imposter.

In consideration of artistic expression, whether as creator or spectator, the element is the ability to differentiate between what is quality that is pure and what's merely a novelty.

Novelty may have appeal but fades such as Andy Warhol or Damien Hurst in its importance over time. Quality despite controversial or unpopular start, increases over time as the likes of Arshile Gorky, Franz Klein, Piet Mondrian, Pablo Picasso sold.

Quality in art is the real truth expressed through the individual's experience of existence. And the success in expression and transmission lies deep in its capability to communicate more.

The answer is that buy expensive abstract art arts lack communication possible. Pieces sold for seven and eight figures tend to make the headlines, but most of the living artists' works won't ever attain that. It all lies in admiration as real artwork tends to grow in a selection of 4-14% average annually in value.

To understand a few artists are rich and famous, first, you want to realise that majority of them are not and will not be. An artist has to get a gallery to represent them, which can be harder than it seems to break in the art market.

Emerging artists' works are priced based on the size and medium. A larger painting will usually be in $8,000 to $20,000 range. When an artist is represented by a David Zwirner or Hauser, the prestige of the dealer might be enough to increase the artist's sale costs if the artist is unknown.

It all adds up substantial amounts per year if we were to consider the costs of logistics, maintenance, custom packaging, and insurance. And artworks sold at auction houses are subject to sales commission and premiums. Finally, sales or VAT taxes are charged by some countries, and suddenly we realise that the art world is costly to run and maintain.

The process is becoming increasingly difficult thanks to the closing of smaller galleries across the world. However, new places are opening to appeal to an increasingly international industry.

Many people are currently going after a small number of artists. That's what is driving prices up.

Given the nature part in modern and general art particularly, it's hard for collectors to discern whether an artist is outstanding. So what the majority of people do is look for quality signs. Those signals ever bought his work or can be what an curator is stating about an artist; if he/she has exhibitions in museums; if prominent collectors are buying. Everybody, to some extent, is currently appearing at the very same signals, and at one point, they start agreeing who are the artists that are most desired.

To put it differently, some artworks are more expensive since there's a consensus in the art world that their works should be costly. Art is a marketplace for objects that are unique which adds a sense of scarcity into the mix. There are only a few known da Vinci oil paintings in existence, some of which are off the market and belong to museums.

The most expensive art piece

The Salvator Mundi of leonardo da Vinci

The world art sold at auction was purchased at a Christie's sale in November 2017. The oil painting, the Salvator Mundi of Leonardo da Vinci, went for $450 million to Saudi Prince Bader bin Abdullah bin Mohammed bin Farhan al-Saud.

As of 2005, two oil paintings remained unaccounted for: Leda and the Swan, the Salvator Mundi, and a large-scale mythological allegory.

Expensive pieces sold

Pollock Number 17A Expensive artwork that is abstract

Pollock's 1948 Number 17A

About $500 million was paid by billionaire Ken Griffin by abstract expressionist masters in one of the largest art deals ever for two paintings, according to people. Mr Griffin is the founder of hedge fund Citadel. He purchased works from David Geffen's base. The deal exceeds the highest mark the $300 million, for a sale and is a listing for both artists that Qatar Museums compensated for When Will You Marry by Paul Gauguin.

Willem de Kooning Expensive art that is abstract

Willem de Kooning

Mr Griffin purchased the 1955 oil painting of William de Kooning titled Jackson Pollock's 1948 Number 17A canvas for approximately $200 million and Interchange for about $300 million. The de Kooning fetched $20.7 million in 1989, an auction record for the artist and three times pre-sale quote of $6 million. Pollock's artwork was featured in a 1949 Life magazine article which helped make him a household name. The paintings went on display at Chicago's Art Institute where Griffin was a trustee and helped construct the museum wing. "Masterpieces in their own right, William de Kooning's Interchange and Pollock's Number 17A had an excellent impact in the moment of their making," Daniel Varzari, sponsor of the Art Institute of Chicago, said in an e-mail. Griffin - who has a net worth of more than $5 billion, according to the Bloomberg Index - has been catching attention with artwork, real estate and philanthropic efforts.

Expensive abstract art

Les Femmes d'Alger by Pablo Picasso

"Les Femmes d'Alger" or"Women of Algiers," made by Picasso in 1955, is another example of contemporary abstract paintings. Estimated at $140 million, it was sold at Christie's New York in 2015 for $179.4 million. The buyer remained anonymous. Rumours say it was sold to V Art Foundation in Geneve. The list of the most expensive art pieces isn't exhaustive and includes only several notable works by artists that are famous. It's enough to understand that this form of fine art not only has the right to exist but also is highly prized by art collectors across the world.