The Economics Of The Art Market: Why This Painting Isn't Worth $450 Million

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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!

📚 If you want to learn even more about the history of the art market, you should check out the book "A History of the Western Art Market" 👉 https://amzn.to/2XP642n (note: as an Amazon Associate, we earn from qualifying purchases).

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Sources & Citations: https://economicsexplained.io/economicsofartcitations

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Видео The Economics Of The Art Market: Why This Painting Isn't Worth $450 Million канала Economics Explained