I´m Not An Art Expert, But This Price Looks "Frothy"......

Stories like this might explain why some still call the debt & equity "markets" a buy .....;-) Probably ( not) a coincidence that my May 2007 post Speaking Of Bubbles......What About Art? was highlighting another Warhol work sold for the "distressed" price of just $US71.7 million almost matched the peak for other asset classes as well.....

Solche Geschichten erklären wohl auch warum immer noch fast alle die Aktien und Anleihemärkte als klaren Kauf einstufen.... ;-) Sicher (k)ein Zufall das mein letztes Posting zu diesem Thema vom Mai 2007 Speaking Of Bubbles......What About Art? wo ein weiteres Warholwerk für den Schnäppchenpreis von lediglich 71.7 million $ den Besitzer gewechselt hat zeitlich mit dem Top in anderen Märkten einherging.....


Warhol’s ‘200 One Dollar Bills’ Fetches $43.8 Million in N.Y.

Andy Warhol’s 1962 “200 One Dollar Bills” fetched $43.8 million tonight at Sotheby’s contemporary- art auction in New York.

The seller was London-based collector Pauline Karpidas, according to two people familiar with the situation. Karpidas couldn’t immediately be reached for comment.

The work, estimated to sell for $8 million to $12 million, is among the artist’s earliest silkscreen paintings, a process that became his signature technique

> I don´t argue with the art ( see picture ) but when the price estimate is $8 to $12 million and it the final price is almost 400 percent higher something is indeed very "frothy"...... UPDATE: See final comment in the post.....

> Mir macht weniger der Preis für das Bild ( siehe oben ) zu schaffen als vielmehr das die ursprüngliche Preisspanne von 8-12 Mio $ mal eben um fast 400% übetroffen worden ist.....Solch Verhalten geht unabhängig von der Anlageklasse fast immer mit einerm Top bzw einer Blase einher..... UPDATE: Verweise auf meinen aktualisierten Abschlußkommentar am Ende des Postings....

Alex Rotter , head of the contemporary art department

"Andy Warhol's 200 One Dollar Bills is a hugely important work for American art history. Not only was it one of the starting points of pop art, but this picture had the perfect ownership history - directly from Warhol's dealer to the legendary collector Robert C Scull, and then from his estate sale at Sotheby's to the current owner who acquired it in 1986 for USD 385,000,"

This spinmaster could easily work on Wall Street.....

Man muß diese Kunstkritiker einfach lieben......

UPDATE:

The Great Contemporary Art Bubble Trailer Documentary by Ben Lewis



I hope you have the chance to see this "brilliant" documentary! After watching the entire doc i´m now 100 percent sure that the lates Warhol auction represents a bubble or is a scam.....Not sure what is better..... Guess who shortet the hell out of Sothebys.... Famous Hedge Fund manger Jim Chanos...This guy rocks!

Hoffentlich ergibt sich für Euch die Möglichkeit sich die wirklich bombastische Doku in voller Länge anzusehen....Bin mir nun zu 100% sicher das es sich bei der o.g. Auktion um eine neue Blase handelt bzw die Auktion getürkt gewesen ist...Weiß nicht was ich besser finden soll....Verglichen mit dem Kunstmarkt scheint selbst Wall Street etisch ganz weit vorne zu sein..... Übrigens schön zu sehen das einer der besten Hedge Fond Manager Jim Chanos auch hier das richtige Näßchen gehabt hat und Sothebys in Grund und Boden geshortet hat.... Der Typ rockt!

speaking of bubbles......what about art?

i´m no expert in art but whenever i read that some kind of comparable assets like in this case Warhol works/paintings/pictures triples it is worth taking a closer look......

and when you look at the chart that only shows the rise to the june 30th of 2006 and take the massive spike in 2007 into account......


ich bin mit sicherheit überhaupt kein experte in sachen kunst, aber wenn ich lese das preise für eine vergleichbare anlageklasse wie in diesem fall von andy warhol sich auf jahressicht mehr als verdreifachen kann ein genauerer blick nicht schaden......

und wenn man jetzt noch berücksichtigt das der chart nur die entwicklung bis zum 30.06.2006 widerspiegelt und die preisexplosion in 07 damit noch noch nicht erfasst hat....


A painting by Andy Warhol sold at auction for $US71.7 million, setting a new record for the artist's works. The 1963 work, Green Car Crash (Green Burning Car I), is a surreal and gruesome image of an overturned car on fire, with the body of the driver impaled on a nearby post.

The painting, which had been in the same collection for the past 30 years, easily beat the record for Warhol's works — set last year in New York when his iconic Mao sold to a Hong Kong billionaire for $US17.4 million.


Hedge-Fund Manager Cohen Buys Warhol Marilyn Picture

May 25 (Bloomberg) -- Hedge-fund manager Steven Cohen bought an Andy Warhol image of Marilyn Monroe, ``Turquoise Marilyn,'' in a private transaction, Jonathan Gasthalter, a spokesman for Cohen, said in a telephone interview.

Cohen, of SAC Capital Advisors LLC, was the hedge-fund industry's fifth-biggest moneymaker with earnings of $900 million in 2006, according to Institutional Investor's Alpha magazine. An active buyer of contemporary art, his holdings range from a Francis Bacon screaming pope to Damien Hirst's pickled shark.

The collector paid an estimated $80 million for Warhol's 40- inch-square Marilyn picture, acquired from Chicago collector Stefan Edlis, the New York Times reported earlier. Gasthalter wouldn't confirm the details.


Warhol, who died in 1987, produced images of U.S. culture in a so-called factory in New York, and is the second most actively traded artist, after Pablo Picasso.

The most expensive Marilyn image ever sold at auction fetched $28 million at Christie's International in New York last week. It was called ``Lemon Marilyn'' because of the background color

>can´t wait for the first from wall street to argue that stocks vs art are undervalued .... :-)

>kann es kaum erwarten bis die ersten analysten aktien als im vergleich zu kunst als unterbewertet einstufen....... :-)