WHY SO EXPENSIVE?

I really still struggle to wrap my head around the supposed reasons why certain paintings cost so much, running into scores of millions of dollars. I do understand antique value, and as an artist, I appreciate artworks, their aesthetic value, more so, the effort that goes into them. However, the insane prices attached to a lot of the so-called classics, and recently certain 'modern art' still leaves me breathless.

Being a mostly self-trained artist with little formal education in the field, I might just be exposing my chronic ignorance here. However, the value attached to paintings, like the value attached to diamonds (which of course has a lot of practical usage being perhaps the hardest substance in the world, and having unique refractive properties) is ridiculous. I think certain people just conspire to give certain things unreasonable value, then expect the rest of us, the unsuspecting public, to go along with their schemes. Hollywood is definitely in on this ploy too. There is no doubt in my mind that the most popular painting in the world is the 'Mona Lisa' by Leonardo da Vinci, which owes a portion of it's fame to Hollywood.  Please, do pardon my paranoia and comical conspiracy theory. But, take the works of the now famous Vincent van Gogh for instance into consideration.

'Vase with Fifteen Sunflowers'

By Vincent van Gogh

Vincent van Gogh (1853-1890) reportedly sold only one painting, 'The Red Vineyard', in his entire lifetime for a value projected to be about $1,650 today (400 Francs). He lived out a very ordinary life, austere infact for stretches, and squalid at other times, and must have been disillusioned at some point. He was just 37years old at the time of his death, after years of mental illness and 'painful anxiety'. He probably killed himself, since it was reported that he died from a likely self-inflicted gunshot wound. The gun, however was never found.

"In just over a decade, he [Vincent van Gogh] produced more than 2,100 artworks, consisting of 860 oil paintings and more than 1,300 watercolors, drawings, sketches, and prints. His work included self portraits, landscapes, still lifes, portraits as well as paintings of cypresses, wheat fields and sunflowers."
---wikipedia.org


In 1987, almost 100 years after his death, his painting, "Vase with Fifteen Sunflowers" sold for £24,750,000, more than tripling the previous record held by Mategna's "Adoration of the Magi". This criminally insane amount of money translates into a projected value of at least $83,000,000 today!

I do admire his perseverance and tenacity even when things didn't work out. His art was hardly appreciated and he kept on trying to improve his works by studying under several 'masters' and trying out varied techniques. But this guy, was probably a little beside himself; he literally painted 37 self-portraits in a space of less than four years. He got financial assistance from his younger brother, Theo, but the money was soon spent up without even breaking even, a scenario that played out repeatedly. He had a really hard time. Fate, or should I say, the conspirators, played a fast cruel one on him. They waited for him to die before they started appreciating his works, and by mid-20th Century, he was considered one of the greatest artists that ever lived. Today, he has seven (7) paintings in the Top 50 most expensive paintings in the world, with a combined estimated value of almost 800 million dollars!

Now, like I said, putting antique and aesthetic value into consideration, this is still a misnomer.

I do like to mention here David Choe, a graffiti artist, who accepted to be paid in shares for graffiti he painted at the Facebook headquarters prior to their Initial Public Offer. At the time of Facebook's IPO, those shares were worth about two hundred million dollars!

What really makes paintings this expensive, and should they be?

Please drop your comments.