Posts tagged 'Art'

Saddam lookalike nabbed with fake Fauvist haul?

Did you click? You were meant to, if only to focus on the fact that wing-nuttery and straight forward fabulous fabrication might be forcing its way into the mainstream news media like never before. Meeja needz clicks.

Or maybe this story is true. Read more

The growing scarcity of scarce markets

As we’ve reported, a classic car bubble is potentially in the making — something which has got us thinking (over three posts) about what really goes into determining the value of rare objects more generally.

From our vantage point — and it certainly is a lay vantage point when it comes to classic cars — there seem to be three core attributes associated with vintage automobiles.

The first is uniqueness.

Value related to uniqueness is understandable since it relates to how easily an object or item can be sourced, replicated or mass produced. For now, there is little chance that a classic Bentley will be perfectly replicated. Value applied on these grounds seems rational enough. Read more

The art of myth-making

The classic car market is bubbling, which has got FT Alphaville wondering about what really goes into determining the value of rare objects. More specifically why certain objects, despite their ability to be cheaply reproduced, retain value regardless.

In this post, we consider the roles of narrative and myth in value creation.

We’ll start with the argument that a powerful enough narrative or myth can turn even abundant commodities into stores of value in their own right. Read more

Prepare to be assimilated

Felix Salmon at Reuters has a thoughtful response to our post on the value of unique and how it may come unstuck due to the dawn of perfect copying processes.

It raises some interesting points, but largely argues that perfect copies will not disrupt the value of the original market, providing that authenticity can continue to be assured. Indeed, Salmon suggests art will likely go down the route of the music industry, where value has increasingly become attached to the live performances of musicians and artists. Read more

What is the value of unique?

In Star Trek: the Next Generation there is an episode in which Fajo, a member of the Stasius Trade Guild, kidnaps and imprisons the Enterprise’s Lieutenant Commander Data, a sentient android, due to his complete uniqueness in the galaxy.

Fajo, it turns out, is an obsessive collector of all things one-of-a-kind. He values Data because there is only one of him in the universe. And unlike one-of-a-kind human beings, Data’s android status in Fajo’s mind allows him to objectify him and treat him as private property. Read more

Art as the sophisticated man’s Bitcoin

There’s a post FT Alphaville has been trying to write about the art market for a while now. At least a year. Problem is, nobody will talk honestly about the angle we want to discuss.

That being: how much art is being “mined” purely to satisfy the demand for ‘safe-ish’ assets in a liquidity saturated world. Safe assets, which we should add, are often held in bonded warehouses in places like Geneva, outside of the reach of tax authorities, and which later become a type of bearer security in their own right as the depository receipts which allow redemption of the assets begin to circle amongst the wealthy as their own type of non-taxable currency. Read more