4 ms·
Here's my guess as to why art would be overpriced on Amazon (I know nothing about art prices, so I won't assume that it actually is, just why it would make sens
by grimtrigger 13y ago
Here's my guess as to why art would be overpriced on Amazon (I know nothing about art prices, so I won't assume that it actually is, just why it would make sense).
Some recently IPO'd CEO walks into a Brooklyn gallery and sees a piece of art. He likes art but he's not much of a collector. He knows that art can be a very lucrative investment, but has no idea what sells in this wierdo art market. When he finds a piece at the gallery and has a good feeling about, he whips out his phone and does a google search of the artist/piece and finds and would you look at that! Prices are on Amazon.com with reviews and everything.
The artist/gallery knows this is happening, so they jack their price on Amazon. "Hey! This is worth $50k and I'm getting it for $10k". Plus when you show off your house, you can say "Oh, you like that? I got it at this cute little gallery in Greenpoint last summer".
Art combines the speculative nature of investment with all the trend psychology of fashion. Its an irrational market, and a really odd fit for Amazon.com.