Recently, a Jeff Koons balloon sculpture sold for 91 million dollars, setting a record for the highest price for a work of art by a living artist. It reminded me of a film I recently saw, on a flight back from Los Angeles.
Entitled "The Price of Everything," the filmmakers managed to interview many of the artists, buyers, and dealers involved in the contemporary art market. And it didn't take very much to realize what was going on. Basically, the super-rich are so rich that they've run out of things to buy.
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