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CNBC says HIGH END art buying boom will continue for 10 years!

Started by glenbru,

45 posts in this topic

Bronty

Bronty

Posted
Posted

Oooo, I dunno about that. I don't care who you are, Bill Gates or whomever, $90m is enough dough to take notice.

 

After all, even for someone worth $2b, that's almost 5% of their net worth, in one single item.

 

 

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Silver Surfer

Silver Surfer

Posted
Posted
Oooo, I dunno about that. I don't care who you are, Bill Gates or whomever, $90m is enough dough to take notice.

 

After all, even for someone worth $2b, that's almost 5% of their net worth, in one single item.

 

 

Not likely that a guy worth only $2B is splashing that kind of coin. Maybe on a house/estate but not on one piece of art unless his cash flow is equally as impressive. Even then the rich will get richer.

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delekkerste

delekkerste

Posted
Posted
Oooo, I dunno about that. I don't care who you are, Bill Gates or whomever, $90m is enough dough to take notice.

 

After all, even for someone worth $2b, that's almost 5% of their net worth, in one single item.

 

Exactly. Plus, it's not like art values are going to implode in a vacuum. They will only implode if global wealth conditions are also imploding like in 2008. Speaking of which, I read this awesome article this week:

 

How A Private Jet Full of Prostitutes Saved Mikhail Prokhorov $10 Billion

 

Meanwhile, the guy on the other end of the Prokhorov forced liquidation and subsequent recipient of the 2008 beatdown, Oleg Deripaska, saw his net worth plummet from $28 billion to $4 billion within months. If you've lost 85% of your formerly 11-figure net worth in a short time, my guess is that you're probably not going to be in the mood to buy any art, even if you are still a multi-billionaire. 2c

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Pete Marino

Pete Marino

Posted
Posted
Oooo, I dunno about that. I don't care who you are, Bill Gates or whomever, $90m is enough dough to take notice.

 

After all, even for someone worth $2b, that's almost 5% of their net worth, in one single item.

 

Exactly. Plus, it's not like art values are going to implode in a vacuum. They will only implode if global wealth conditions are also imploding like in 2008. Speaking of which, I read this awesome article this week:

 

How A Private Jet Full of Prostitutes Saved Mikhail Prokhorov $10 Billion

 

Meanwhile, the guy on the other end of the Prokhorov forced liquidation and subsequent recipient of the 2008 beatdown, Oleg Deripaska, saw his net worth plummet from $28 billion to $4 billion within months. If you've lost 86% of your formerly 11-figure net worth in a short time, my guess is that you're probably not going to be in the mood to buy any art, even if you are still a multi-billionaire. 2c

 

Is russia the most corrupt country on earth, or just the one that's dumb enough to let all their crazy stories out??

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Silver Surfer

Silver Surfer

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Posted

Did you see this related story: :roflmao:

 

This following nightmare is a 100% fully verified true story. It that happened to a very unlucky investment banker who has asked to remain anonymous for obvious reasons. He sent the story in to the amazing satirical twitter page "Goldman Sachs Elevator" (@GSElevator) which you need to follow immediately if you aren't already. GSElevator was kind enough to let us re-post the full account of this incredible real life horror story below…

 

The Most Embarrassing Private Jet Flight Of All Time:

 

Just over halfway through the flight, all the coffee in my stomach feels like it's percolating its way down into my lower intestine. I hunker down and try and focus on other things. What feels like an hour, but probably isn't more than twenty minutes, passes. We then enter what turns out to be pretty violent turbulence. With each bounce, I have to fight my body, trying not to mess my pants. "Thirty minutes to landing, maybe forty five" I try and tell myself, each jostle a gamble I can't afford to lose. I signal to [the flight attendant] and she heads toward me.

 

"Excuse me, where is the bathroom, because I don't see a door?" I ask while still devoting considerable energy to fighting off what starts to feel like someone shook a seltzer bottle and shoved it up my . She looks at me, bemused, and says, "Well, we don't really have one per se." She continues, "Technically, we have one, but it's really just for emergencies. Don't worry, we're landing shortly anyway."

 

"I'm pretty sure this qualifies as an emergency," I manage to mutter through my grimace. I can see the fear in her face as she points nervously to the back seat. The turbulence outside is matched only by the cyclone that is ravaging my bowels. She points to the back of the plane and says, "There. The toilet is there." For a brief instant, relief passes over my face. She continues, "If you pull away the leather cushion from that seat, it's under there. There's a small privacy screen that pulls up around it, but that's it." At this point, I was committed. She had just lit the dynamite and the mine shaft was set to blow.

 

I turn to look where she is pointing and I get the urge to cry. I do cry, but my face is so tightly clenched it makes no difference. The "toilet" seat is occupied by the CFO, i.e. our client. Our female client!

 

Up to this point, nobody has observed my struggle or my exchange with the flight attendant. "I'm so sorry. I'm so sorry." That's all I can say as I limp toward her like Quasimodo impersonating a penguin, and begin my explanation. Of course, as soon as my competitors see me talking to the CFO, they all perk up to find out what the hell I'm doing.

 

Given my jovial nature and fun-loving attitude thus far on the roadshow, almost everybody thinks I'm joking. She, however, knows right away that I am anything but and jumps up, moving quickly to where I had been sitting. I now had to remove the seat top – no easy task when you can barely stand upright, are getting tossed around like a hoodrat at a block party, and are fighting against a gastrointestinal Mt. Vesuvius.

 

I manage to peel back the leather seat top to find a rather luxurious looking commode, with a nice cherry or walnut frame. It had obviously never been used, ever. Why this moment of clarity came to me, I do not know. Perhaps it was the realization that I was going to take this toilet's virginity with a fury and savagery that was an abomination to its delicate craftsmanship and quality. I imagined some poor Italian carpenter weeping over the violently soiled remains of his once beautiful creation. The lament lasted only a second as I was quickly back to concentrating on the tiny muscle that stood between me and molten hot lava.

 

I reach down and pull up the privacy screens, with only seconds to spare before I erupt. It's an alka-seltzer bomb, nothing but air and liquid spraying out in all directions – a Jackson Pollock masterpiece. The pressure is now reversed. I feel like I'm going to have a stroke, I push so hard to end the relief, the tormented sublime relief.

 

"I'm so sorry. I'm so sorry." My apologies do nothing to drown out the heinous noises that seem to carry on and reverberate throughout the small cabin indefinitely. If that's not bad enough, I have one more major problem. The privacy screen stops right around shoulder level. I am sitting there, a disembodied head, in the back of the plane, on a bucking bronco for a toilet, all while looking my colleagues, competitors, and clients directly in the eyes. "Pay no attention to that man behind the curtain!" briefly comes to mind.

 

I literally could reach out with my left hand and rest it on the shoulder of the person adjacent to me. It was virtually impossible for him, or any of the others, and by others I mean high profile business partners and clients, to avert their eyes. They squirm and try not to look, inclined to do their best to carry on and pretend as if nothing out of the ordinary was happening, that they weren't sharing a stall with some guy crapping his intestines out. Releasing smelly, sweaty, shame at 100 feet per second.

 

"I'm so sorry. I'm so sorry" is all the ashamed disembodied head can say…over and over again. Not that it mattered.

 

Wow. This is probably the most humiliating social situation I could ever possibly imagine. Do you think you could recover from this? Or would you need to change your name and find a new line of work? If you do happen to find yourself on a private jet needing to use the bathroom, hopefully the interior looks more like this:

 

 

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comix4fun

comix4fun

Posted
Posted
$4B can still allow him to hire more private jet models. :cloud9:

 

 

It's the guy who bought him out that's worth $4b....he's still got almost $14b. lol

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Kevin76

Kevin76

Posted
Posted

Starting to hate this section of the boards. It's the same thing over and over again. Another thread where the "sky is falling" It's annoying. If you guys are that worried about all your art and comics being not being worth any more than the paper it's printed on then sell everything off, and save yourself the headache. Otherwise, shut up.

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SAM MALONE-migration

SAM MALONE-migration

Posted
Posted
Starting to hate this section of the boards. It's the same thing over and over again. Another thread where the "sky is falling" It's annoying. If you guys are that worried about all your art and comics being not being worth any more than the paper it's printed on then sell everything off, and save yourself the headache. Otherwise, shut up.

 

I dont mind the negative investment sentiment. It is a contra indicator. There is someone here (not naming names) who is the best contra indicator I have EVER seen. That said, he's been predicting the popping of the OA bubble for what seems like a decade now.

 

I think the DK#2 Cover is going to surprise alot of people.

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Overthetopinc

Overthetopinc

Posted
Posted

Good post Kevin. I know a lot of people feel the same way you do but dont want to anyone off. I have been accused of "bubble speak" when I said I think some particular artists are going to go up in value,lol. My gosh could such a thing happen!?!? I cant bare to think of it. Whats next..Zombies?

seriously I agree 100% with your post.

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delekkerste

delekkerste

Posted
Posted
Starting to hate this section of the boards. It's the same thing over and over again. Another thread where the "sky is falling" It's annoying. If you guys are that worried about all your art and comics being not being worth any more than the paper it's printed on then sell everything off, and save yourself the headache. Otherwise, shut up.

 

I agree. We need more threads that try to hype up the value of OA instead, because we simply don't get enough of that in this hobby. :idea:

 

It's like you can't move in the OA Forum without hitting a thread that voices concerns about the market - I just scrolled through the first 7-8 pages of threads in this Forum and found 2 whole threads about such. It's just too much!!

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