Credit Default Swaps vis-a-vis Mourning Dove Kootchie
Thursday, March 26, 2009 at 08:25PM
Thursday, March 26, 2009 at 08:25PM
Sunday, March 1, 2009 at 11:49PM I can't think for you
You'll have to decide.
- Bob Dylan
Well, is art anything that fills space and has meaning to the beholder? Duh? How do you argue with that? The reason I used the Floating Woman Suffocating Under Saran-wrap picture to introduce this blog was simple. When I think about art, it is how I feel. Suffocating. When someone is explaining the artwork to me I often feel like I'm listening to W.C. Fields selling Dr John's Magic Elixir off the back of his medicine wagon. Fortunately, for us, the artist is capable of stripping away the facades that we hide our souls behind and appeal to our imaginations in ways we have not thought about. I was setting here working on this blog and looking around the house and trying to find something that would not be considered art. I can't find anything that would not be considered art by someone. The hucksterism involves the buying and selling of art, putting a price on it. In Joseph Heller's book, Picture This, he points out that in the 1940's there were about 2000 authenticated Rembrandt's floating around but by the 1980's there were only a couple of hundred. Those people with the 1800 Rembrandt's that are technically Rembrandt's because he signed them, were actually duplicates painted by his students. Of course, this was before the age of prints or giclees.
A friend asked me, "Which Van Gogh painting is your favorite?" I replied, "The Sunflower painting." "Which one?" my friend asked, "he painted over two hundred of them." "Uh-h-h. number 97", I responded. I was genuinely surprised to find out I had been admiring different paintings, thinking they were all the same one. My friend asked what would I do if I had an original Van Gogh. I told him I would sell it. He was disappointed and said I really did not appreciate art. It's not that I don't appreciate it, I just happen to think that it is highly over-appreciated. Artists are fond of saying, "Life is like a haunted house and Art is the only stair that doesn't creak." Yeah? Well, that's because they keep it so well-oiled. So why does a Van Gogh fetch such extravagant price at auction? There are a myriad of economic theories out there used to explain why a Van Gogh is worth more than the painting of Elvis I have on black velevet.
One theory is that there are not very many Van Gogh's and there is a very high demand for them that creates their value. For example, everyone has a wrist watch today but if you had owned a wrist watch in 1898, you would have been one of the wealthiest people in the United States. A more recent phenomenon has been watching the price of computers continue to diminish. As an entity becomes more plentiful its value decreases. In the 1930's about 25% of high school students graduated. If you had a high school diploma during that period, it was a valuable commodity. Today, about 75% percent of all high school students receive a diploma and it has lost much of its value because everybody has one. Now, you have to have a college degree to be in that valuable 25%, but the percent of students receiving college degrees is starting to creep up, which will require having a master's degree in the very near future in order for your degree to have the same value as a high school education in 1930. I hear all the time about how many engineers there are in India and China. Like, duh, how valuable is that? I remember when the NASA program downsized back in the early '80s, there were engineers serving up Big Macs at the local MacDonald's all over the country. I think the medical profession in this country has figured this out. The AMA controls how many doctors will graduate every year, they make their profession valuable. Let's hope teachers, police, fire fighters, and other service professions do not figure this out!
So far, I have been focused on extrinsic value, or the value that others place on art. The artist will tell you it has nothing to do with the intrinsic value of their work. They like the appreciation shown by the fact that someone is willing to pay for their art, but would continue to create even if there were no buyers. So, I guess, we've come full circle at this point. If you you like it, if it moves you in some way, if it has some special meaning for you, whether it's a movie, a painting, a song, or a book then it's art and it's okay for us to appreciate it.
Art is anything you can
get away with.
- Andy Warhol
Sunday, February 15, 2009 at 10:19PM