Once again, we look out our window to see what is going on. What we see from our office window is the Waterloo Bridge. And what we see in the news is that a painting of said bridge, done by Claude Monet, just sold at auction for an extraordinary amount (reported as 17.9 million pounds [...]
June 22nd, 2007 | Bill Bonner | 1 comment | ContinuedAll Posts Tagged With: "Art"
Prices for Damien Hirst, Andy Warhol Artworks Are Laughable
Is the art market a leading indicator of this Global Bubble? Or a lagging one?
We don’t know. We watch it for amusement, not for trading signals. And next week, another big art auction should set off giggles.
Would you like to spend millions for a big picture of a dollar sign? How about a big, telescoping [...]
Reckless Spending Seen in Chinese Stocks, House Prices, Diamond Skull
A number of analysts whom we admire and respect – Jeremy Grantham and Richard Russell, for example – have come to believe that we are on the threshold of an even greater bull market.
We have noticed how one bubble has led to another…in stocks…in real estate…in art…in watches and collectibles…in one market…then in another…until the [...]
Price Keeps Rising For Andy Warhol Artworks, Chinese Stocks…And Status
The older we get, the younger we are. We have been laughing at the Chinese…for it is obvious that they are new to the ways of runaway markets. Throwing off their drab Mao suits…and fresh off the farm…these bumpkins act as if they fell off the turnip truck just last week.
But it is we who [...]
US Stock Market, World Art Market Dangerously Close To The Top
Sotheby’s has just had another record sale. A painting by Mark Rothko went for USD$72 million.
Somewhere…the gods are laughing.
We observed yesterday that Richard Russell has changed his tune. Now he warbles an almost up-beat melody; the Dow is entering the third and final stage of its great bull market, he says. A top is yet [...]
Sotheby’s and the Bubble in Art
“Good art speaks truth, indeed is truth, perhaps the only truth,” wrote Iris Murdoch in The Black Prince – and seeing how Peter Doig’s White Canoe (1990) was deemed good enough to fetch $11.3 million at auction last Wednesday, that must mean the only truth today is inflation.
Sotheby’s (NYSE: BID) [Analysis: BID] midweek sale of contemporary [...]
