With regard to art, especially modern art, I suppose one either "gets it" or not, and I appear to be in the latter category, so I suppose I should try not to be too judgmental. Pictured above is a 1976 triptych by Francis Bacon (no not THAT Francis Bacon - this one is an Irish painter) which just became the most expensive work of contemporary art ever sold at auction.
If I'm going to espouse Libertarian principles, I suppose I have to defend the rights of private persons to spend their money as they wish. So I should point out that this is not a new painting - it's over 30 years old! And it's actually 3 paintings, not just one. And they are large (6.5 feet x 5 feet), so obviously the painter had to spend a lot more for the paint. Perhaps factor in the consideration that the sellers, the Moueix family, producers of Château Pétrus wines, may be in financial straits and need the $86 million.
Finally, one would have to also conclude that there is nothing more important to spend the money on - no disasters, world crises, human suffering... oops, and now I see the statue that sold in the same auction... for $15 million... I can't go on... blogging can be difficult. Please join me at THIS LINK and listen to Peter Finch provide the Mother of all Raving Rants.
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