why do people pay so much for paintings?

[harmonica]

??why do they pay so much for paintings?
not the dealers, but the others..?
$450 million..??!!
etc
Listed: the world’s most-expensive paintings sold at auction

 

[Graydon]

It could be they consider it an investment with hopes they will sell for more later.

 

[harmonica]

It could be they consider it an investment with hopes they will sell for more later.

I kind of meant that when I said ''dealers''
I can see the ''historic'' aspect of old paintings
but these prices seem too much

 

[rightwinger]

A sucker is born every minute

 

[harmonica]

A sucker is born every minute

I guess if I was rich, I would buy ''dumb'' stuff

 

[JGalt]

First response nailed it. The painting is never going to be worth less than it sold for. People buy things out of speculation.

 

[rightwinger]

First response nailed it. The painting is never going to be worth less than it sold for. People buy things out of speculation.

Paintings drop in value all the time

 

[JGalt]

First response nailed it. The painting is never going to be worth less than it sold for. People buy things out of speculation.

Paintings drop in value all the time

This is a Leonardo da Vinci masterpiece we're talking about here. That particular painting is never going to be worth less than what it's worth now. Some art does decrease in value but like everything else, it's going to rise to it's own level of value, depending on how badly someone wants it.

 

[JOSweetHeart]

First response nailed it. The painting is never going to be worth less than it sold for. People buy things out of speculation.

Forgive me if this is a dumb question, but what if the piece was some how damaged? Wouldn't it then lose value?

God bless you always!!!

Holly

 

[pismoe]

not dumb and I suppose it'd be a damaged ORIGINAL which might make it worth More someday in the future . As far as me with my small level of wealth I would rather have Land , gold or cash Holly .

 

[MaryL]

Capitalism. It's a racket. You know what a racket is, right? No? I got a bridge in Brooklyn I can sell you, duty free.

 

[blastoff]

Capitalism. It's a racket. You know what a racket is, right? No? I got a bridge in Brooklyn I can sell you, duty free.

If you owned the bridge and sold it the transaction would be capitalism at work whether you made or lost money. What you deem a racket could simply be your stupidity at either the time of purchase or sale, or perhaps both in your case.