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The Art Market is a Scam (And Rich People Run It)
About this video
A Wendover Productions video on how the art market works, arguing that prices are driven by wealth, storage and tax mechanics rather than artistic value.
Why it appears in the archive
Used to explain why contemporary art is expensive for money reasons rather than art reasons.
AI-generated summary and labels from the source dataset; verify important details against the video. Source & credits.
From the Hacker News discussion
Good time as ever to plug Wendover's recent video about how the art world works. [VIDEO] Seeing Sotheby's attach its name to NFTs confirms every suspicion i ever had about NFTs.
Read original comment ↗I mean you are right, but that texture is doing a lot of work, since the Mona Lisa is about $850 million, and my solution is $0.0001 million, and indistinguishable at 15 meters. But either way, this doesn't distract from the main thrust of my point. Art is expensive for Money reasons, not art reasons. [VIDEO] [LINK]
Read original comment ↗> The people doing contemporary fine art with their audience are unaffected. It's not a particularly well hidden secret that the contemporary fine art is really not about the art or the artist. [VIDEO]
Read original comment ↗