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Home > Economics Explained > The Economics Of The Art Market: Why This Painting Isn't Worth $450 Million
Podcast: Economics Explained
Episode:

The Economics Of The Art Market: Why This Painting Isn't Worth $450 Million
Category: Business
Duration: 00:17:37
Publish Date: 2023-02-14 18:00:00
Description:

In 2017, at Christie’s Auction House in New York, a mysterious #Art buyer bid a record-breaking $450 million dollars for the #SalvatorMundi; a painting by the legendary Leonardo da Vinci.  News of the staggering purchase price sent shockwaves throughout the entire art market (which, interestingly, has been a reliable indicator of impending market bubbles for decades).   What drives the high-end #ArtMarket? How can art be used to move money in creative ways and get around taxes? And perhaps above all, why would anyone park so much money in a picture when there are other asset classes that actually generate cash, like real estate rentals or dividend-paying stocks? … all this and more in today’s episode!
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