Alberto Giacometti bronze sets £65m world record at Sotheby’s – Times Online
This story is a perfect example of Cost, Worth and Value and how it affects the art world. I’m sure the person who purchased it was willing to pay anything for it simply because of the emotional involvement he had in owning it, but because that feeling was shared by the market in which he was bidding, the price was driven to a record amount.
That’s what I find so fascinating about art. When it comes down to it, the only real purpose of it is personal enjoyment. You can’t eat it. You can’t wear (most of) it. You can’t live in it. It satisfies none of our primary needs, yet we surround ourselves with it because it feeds our souls and makes our daily drudgery tolerable.
I was having a conversation at my office with a co-worker about this sculpture and his first comment was that the purchaser would never get back his investment. Considering that the article referenced that the buyer had waited for fourty years to have the opportunity to own it, the only investment was a personal one -ownership of a piece of art in spite of the cost simply because he wanted it, not because it was an investment. That is the purest form of appreciation there is.
I can imagine the new owner of this sculpture will greet his acquisition with delight each morning when he wakes up; staring up at it with his morning coffee in wonderment and satisfaction in owning something so singularly beautiful and rare. I’m sure many of his days at home will be spent in the presence of this prized possession. On the nights where sleep is elusive, solace and comfort can be found in admiring Alberto’s creation.
I wish him (or her) a long life.