馃攳
Why Modern Art Is So Expensive | So Expensive - YouTube
Channel: Business Insider
[2]
modern art is expensive from completely
[7]
white canvases to simple abstract colors
[9]
these seemingly basic works can cost you
[12]
millions so what makes their price so
[16]
high and how can they possibly be worth
[18]
this much money
[31]
Modern Art is a wide field covering
[34]
everything from around 1870 to 1970 but
[39]
say modern art to someone on the street
[40]
and chances are they possibly picture
[43]
something like this at the turn of the
[47]
century art changed from the birth of
[50]
abstract Impressionism to the
[51]
minimalists and even performance art art
[55]
was no longer just about representing
[57]
the world with skill that skill faded
[60]
away after photography was invented
[63]
once photography was invented that was a
[65]
skill that camera could do so artists no
[67]
longer felt that that was their primary
[69]
reason for making art art isn't about
[72]
beauty that's it never was really are
[76]
generally became more conceptual and
[79]
more challenging but this change wasn't
[81]
popular with everyone in a 2016 study of
[85]
the British public twenty-eight percent
[87]
of people don't consider this art
[89]
sixty five percent of people don't think
[91]
this is art an eighty three percent of
[94]
the public definitely don't consider
[95]
this to be art over a hundred years
[98]
after its creation the work is still
[100]
somehow as divisive and controversial as
[102]
ever with the public but that hasn't
[104]
stopped record prices being sent I think
[107]
most people think that modern or
[111]
contemporary artists are having a laugh
[113]
at their expense and nobody wants to
[115]
feel at all for many who are immediately
[118]
dismissive of these pieces frustration
[121]
also often comes when they see the price
[124]
most of us I think tend to be cynics and
[127]
we I think a lot of times associate art
[131]
with value and that I think that
[134]
triggers the question of well why why is
[138]
it that much or why such a high value if
[142]
you know I could probably do this think
[144]
unless you're in the market and actively
[146]
buying art there's no need to look at
[148]
art and think of a price tag
[149]
it shouldn't I mean it shouldn't be the
[151]
way you look at art for the artists
[155]
involved what looks simple can be the
[158]
culmination of a lifetime's work take
[160]
the black square for example painted by
[163]
turn-of-the-century avant-garde artist
[165]
Casimir Malkovich this simple black
[168]
painting didn't come out of nowhere it's
[170]
the result of 20 years of simplification
[173]
and development when it was shown the
[175]
black square was a revolutionary symbol
[177]
exhibited at the top corner of the room
[179]
a spot reserved for Orthodox religious
[182]
icons making this work wasn't exactly an
[185]
easy decision either and in 1930
[187]
Stalin's regime confiscated Malevich's
[190]
artworks and manuscripts and he was
[192]
jailed for two months yes the white
[194]
canvases are or the black canvases are
[197]
very rarely all they've done they
[200]
haven't just come out of schools that I
[201]
could paint a black canvas I mean as
[203]
much as we might think we could do that
[205]
yes we could do that but the artist has
[207]
thought of it and probably had a journey
[210]
quite a long journey and a process to
[212]
get there the works aren't just made for
[216]
profit it's often only after the artist
[218]
is dead that the art can fetch the
[220]
incredible price that it's reached today
[222]
in 2008 one of Malevich's abstract works
[226]
sold for 60 million dollars and the
[229]
demand for these important modern works
[231]
is only going to increase the natural
[234]
trend is for you to see you
[236]
a rise in prices but that's because it's
[240]
these true masterpieces are rarer to
[243]
find because they're really all in
[245]
museums
[247]
but setting an actual price can be tough
[250]
in the end the value is only going to be
[253]
what people are willing to pay as long
[256]
as there's going to be artists producing
[258]
there's always going to be sort of
[260]
shifts in tendencies and tastes I would
[262]
say also in taste in the market it seems
[266]
like every year there's a new record
[267]
price and as extreme wealth inequality
[270]
increases so do the number of
[272]
millionaires willing to pay the fortune
[273]
required for these works no matter what
[276]
the artist intended art is now seen as
[279]
an easy investment by many and companies
[281]
have appeared the tree art purely as an
[284]
asset for financial gain but despite the
[286]
ever increasing prices of the modernist
[288]
masterpieces for 99% of the artists out
[291]
there their work has always been a labor
[294]
of love there are obviously people out
[296]
there with a lot of money who view art
[298]
just to be a commodity nothing outs but
[301]
there's gonna be people who purchase or
[304]
engage with it with it because they take
[307]
genuine pleasure from it or it
[308]
stimulates them or they feel it enriches
[310]
them I'm an abstract painter not really
[315]
dealing much form I became quite
[317]
obsessed that was painting or all day or
[320]
night and it was just something there I
[322]
I'm really I kind of took a hold of me
[324]
so it's it's not easy being an artist in
[330]
London there's a lot of really good
[332]
talent out there I think you've really
[334]
got to be good to actually make any
[336]
money we don't have the I suppose
[339]
network initially yeah it sort of really
[342]
expensive habit written to be honest so
[345]
I suppose everybody's got the vices but
[347]
I'm a little it's my kind of passion in
[349]
a hobby so that's where all my
[351]
time effort and kind of spare finances
[355]
go trends in the market may change and
[360]
prices will shift but the popularity of
[363]
modern and contemporary art isn't going
[366]
anywhere
[370]
you
Most Recent Videos:
You can go back to the homepage right here: Homepage