Leonardo's painting sold for 450 million dollars (with fees) but in the auction they sold it for 400 million... So 50 million dollars in fees... LOL wth
If you work in the industry or attend these auctions everyone knows those fees will be added onto the final price. It's a tradition to do it in this manner. Source: I've worked with clients who purchase these painting and have attended these auctions.
True story. My neighbor likes arts and crafts and made a bunch of bright red 1' square glossy hearts. She sold about 10 of them for $30 each to a local store that sold 'em for $50. She sold another, just like the other to a local art gallery for $300! He later sold it for $475. The purchaser might not be too happy upon seeing it for $50 in a store a few blocks away, lol.
Correction required - Salvator Mundi ALLEGEDLY by Leonardo DaVinci. There are well documented issues with this painting and it may have come from DaVinci workshop or from one of his students but the master may not have painted any of it himself.
auctions are not always expensive , its also a great way to find bargains for example if an auction house host a major auction of furniture , art , jewelry and more ( specially online auctions ) chances are the estimate of the items does not mean it will always sell at that price sometimes the item/lot was sold ( including fees ) 15 to 60 percent less than the estimate.
That’s not necessarily a good thing, or a bargain. Yes, things sell below low estimate, but then again estimates are not necessarily representative of market value. They can be inflated, meaning that real value is below, or, they may have been too optimistic: it going for less might mean that there is no real interest in the piece (meaning it was possibly not a good investment). It is far more complicated than this as well: it can be overlooked in a predominantly “ignorant” audience (by ignorant I mean unaware or simply not interested, for instance a drawing in a painting auction). With art, the true value and bargain to be had is in your head: that’s my advice. How much would you pay for it, how much are you willing to? 1 million for a red dot on canvas, and you get it for only 900,000? Bargain. 100 for the same red dot and you get it for 90? Bargain. All else is risky and never 100% accurate. If buying art as an investment, buying at less then estimate is not necessarily ideal.
That’s completely different and irrelevant to these. They are exclusive and the prices will be high as it’s part of wealth investment and money laundering. Normies aren’t allowed in, watch the Adam Ruin Everything video about it here on RU-vid plz.
auctioneers at Christie's are not just auctioneers--they have regular jobs in addition to their auctioneer work. This guy is also a decorative arts specialist.
Would like to know how much he gets paid; how his pay structure actually works... Simply salary? Paid per auction, depending on the profile of the lots? Percentage based somehow? Really intrigued.
Ladies and gentlemen. This is how Billionaires outdo each other in terms of money. "This guy just bid 150M for that piece , if i do 160M , He'll have to pay more money muahahaha" "200M" *Snickers inside*
@@aviendha1154 For sure. It's a great way to do it and you can get paid nicely from it , with museums displaying your art. If you believe thats a scam , just wait til you get into Keynesian economics. Oh boy.
aaron 5 that painting was bought by a chinese billionaire using his american express card and the reason why he bought the painting was for the points( the credit card ).
fun fact most expensive art is bought to avoid paying taxes. buy a 500000 dollar painting get it apraised 5 years later at 3 million. donate it to a museum or colledge get a huge tax break.
No. The pay itself isn't terrific and all those amazing connections you form, well you can't use them for persona gain, only for the auction houses gain
Other sources say six figure salary if you work for one of the major houses. Makes sense as a good auctioneer can easily pay for his services by driving up one good auction.
This paintings has a high value especially because the work trajectory by the artist, expositions in differents countries like a museums, galleries, faeries, and so one, if only the artists will have to draw, all artists will be rich and famous.
@@KoalaDoala I have gone through a lot of comments, reading them of course, and I haven't found a single comment that mentioned quantum mechanics or any other sciences or had the same joke as mine. So if you would be kind enough please show me that comment I had stolen.
Wealthy people are same as us I live in Reno as a sports gambler I talk to them all the time. They are really good people. I learn a lot then I teach them how to gamble. Lol.
you can pay in bitcoin but you must bid in the approved currency. think about it bitcoin can fluctuate mid-auction so the biding is in dollars in the USA but you can pay in bitcoin when you collect your item.
It was sassy, you gotta be entertaining. The $400mil auction went on for 20+ minutes. Imagine just being professional for that long on one item, boring.
Robbing christies warehouses would be a pretty amazing heist where you’ll get a huge amount of cash well huge amount of items that you’ll have to sell somehow
Hitler's stash art could be hidden under corner frame, selifane plastic, painted over with water paints. There is a type of Ineana Jones hunt for these type of paintings, I wonder if any of them have been found yet ? Side Note: One of Hitler's stash (the map was found in a back of a book owned by a nazi) was found at a beer company (Bush) in America, St. Louis, Mo. in 1977* also were there is one stash there could another, maybe along the so called slave tunnals under the city of St. Louis, look for the light hook in the form of a swaskea' ' ' '. Share-ing some thoughts ! P.S. There could be gold under that water paint ?
“Coolness of an airline pilot” “Humor of a stand up comedian” What a load of BS. Didn’t hear one joke and never seen an audience laugh at an auction before 😂
Say you made $100,000 a year.. it would take you 4,500 years to make this much money.. what if you made $500,000 a year?? Still 900 years to go until you make enough money /: even if you made $20,000,000 a year, practically live any way you ever wanted.. it would take you 22.5 years to save up everything you made not spending a single dollar to save up for the painting..
@@ianmorin9824 if you put 120k per year in a account Who made 15% in year ( average ) and you reinvest all the profit, after 55 years you would have the 650M ( still far from worth 650M of today ) 15% average per year would be truly exceptional on long term like that, and I didn't calculated the tax on all this...
I have a Painting that should be worth some money, but i am afraid to bring it to an auction because its only interesting for someone who lives in the town that is on the painting, and the chances that someone from the town would be on the auction are so small, that I might end up selling the painting for a few hundred bucks.
Are these auctions just a transfer of wealth between the rich. Maybe someone wanted to take recoup some of their money? Idk. Paying ridiculous amounts for such things is crazy. A painting? Go on Google
Your paper money is just that, a piece of paper with ink on it, but because agreement of value it has value. Same with art, it does not matter how good it is, only what people who can pay says its worth. Its pretty lame, but who cares...
Gneo Salen cause of the artist is well known and died that’s about it doesn’t matter if they draw a line if you’re name is Leonardo da Vinci he’s shit would probably go for millions
I just want to sell art not be a millionaire or billionaire but these years we have been stuck in a huge amount of loan My dad cries everyday about how to overcome the loan the loan amount is just $500000. Seeing these people spend a billions of dollars on art makes my heart break cause we here are not having enough To eat tooo So I planned to draw arts at least to help my dad overcome this problems I don't know who will buy and how will they buy it but I want to sell it as soon as possible
