[VIDEO] The Formula for Selling a Million-Dollar Work of Art

October 13, 2016

For those of us who aren’t involved in the upscale art world, the multi-million dollar price tags attached to some works can seem baffling. This video from Vox takes a peek into this exclusive market and shows how assessing a piece of art’s value often has more to do with the reputation of the artist and their dealer rather than the work itself.

Questions:

 

  1. Should a work of art’s value be tied more to its artistic worth? Why is this difficult to do?
  2. How do art dealers manipulate the market to drive up prices?

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