Recently a Christie's art sale became the highest
auction in history. The sale included works by Jackson
Pollock, Roy Lichtenstein and Jean-Michel Basquiat,
among others best of atif aslm mp3 and in total generated $495 million. The
sale established 16 new world auction records, with
nine works selling for more than $10m (£6.6m) and 23
for more than $5m (£3.2m). Christie's said the record
breaking sales reflected "a new era in the art market".
The top lot of Wednesday's sale was Pollock's drip
painting Number 19, 1948, which fetched $58.4m (£38.3m)
- nearly twice its pre-sale estimate.
Lichtenstein's Woman with Flowered Hat sold for $56.1
million, while another Basquiat work, Dustheads (top of
article), went for $48.8 million.
All three works set the highest prices ever fetched for
the artists at auction. Christie's described the
$495,021,500 total - which included commissions - as
"staggering". Only four of the 70 lots on offer went
In addition, a 1968 oil painting by Gerhard Richter has
set a new record for the highest auction price achieved
by a living artist. Richter's photo-painting Domplatz,
Mailand (Cathedral Square, Milan) sold for $37.1
million (£24.4 million). Sotheby's described Domplatz,
Mailand, which depicts a cityscape painted in a style
that suggests a blurred photograph, as a "masterpiece
of 20th Century art" and the "epitome" of the artist's
1960s photo-painting canon. Don Bryant, founder of Napa
Valley's Bryant Family Vineyard and the painting's new
owner, said the work "just knocks me over".
Brett Gorvy, head of post-war and contemporary art,
said "The remarkable bidding and record prices set
reflect a new era in the art market," he said. Steven
Murphy, CEO of Christie's International, said new
collectors were helping drive the boom.
Myths of the Music-Fine Art Price Differential
When I came across this article I was stunned at the
prices these artworks were able to obtain. Several of
them would hardly evoke a positive emotional response
in me, while others might only slightly, but for almost
all of them I really don't understand how their prices
are reflected in the work, and vice versa. Obviously,
these pieces were not intended for people like me, an
artist, while wealthy patrons certainly see their
intrinsic artistic value clearly.
So why doesn't music attract these kinds of prices? Is
it even possible for a piece of recorded music, not
music memorabilia or a music artifact (such as a rare
record, LP, bootleg, T-shirt, album artwork, etc.), to
be worth $1 million or more? Are all musicians and
music composers doomed to struggle in the music
industry and claw their way up into a career in music?
If one painting can be valued at $1 million, why can't
a song or piece of music also be valued similarly?
Apparently, the $.99 per download price is the highest
price a song is able to command at market value, no
matter what its quality or content, and the musician or
composer must accept this value as such.
The financial equation looks something like this:
1 painting = $37 million
1 song = $.99
Sometimes people say that a song can change the world,
but no one ever says that about paintings. So
theoretically, if people want change $.99 is the price
we must pay for it.
Now here are a few statements that should help us
clarify what the monetary or value discrepancy between
painting and music is based upon.
(1) There are fewer painters than there are musicians.
(2) Musicians are less talented than painters?
(3) It is easier to create music than it is to paint.
(4) The public values paintings more than music.
(5) Paintings are more beautiful than music.
(6) Paintings are impossible to copy unlike music.
(7) Painters work harder than musicians and composers.
(8) Blah, blah, blah.
Hardly anyone agrees with all of these statements and
yet all, or at least some of them, would have to be
true in order for the price of paintings to so greatly
exceed the cost of music. Moreover, I doubt that art
collectors and great painters have to deal with as much
legal red tape as do musicians when releasing their
work into the public domain, so why aren't the rewards
equal, if not greater for musicians who have to work
almost as much protecting their work as in producing
it. Musicians and composers, however, actually must do
more than authenticate their work and obtain accurate
appraisals concerning what their work is worth, but
they get paid less. The equipment costs alone for
musicians is much higher than it is for painters.
Maybe it's fame, and not money, musicians are after?
That would explain why most musicians settle for the
low pay they receive from record deals and digital
downloads. Perhaps, that's also why many of them are
touring more often to increase their fame and not their
fortunes. But wait a minute, that's where musicians
actually make most of their money from live
performances and the selling of merchandise, but not
the music. I guess this is why many musicians see
themselves not as composers, but rather as performers
So what can musicians do, who don't see themselves as
entertainers, but instead as composers who create music
as a fine art? Because they too have a strong desire to
earn a living to support themselves in their chosen
profession, thus there must be a specialized approach
whereby they present their work to music lovers or art
collectors in search of assets and curators for unique
pieces to place in their private galleries. Imagine
that, a recorded piece of music that few have ever
heard which is displayed and played only on a specified
music player in a private art gallery or collection.
In thinking about how a musician can follow the example
set by painters in the fine arts, I've isolated 4
principles that should help to make the spectacular
financial rewards they've reached possible for the
musician. So let's analyze some of the characteristics
that govern the market for fine art and see how
musicians can apply these concepts to their creative,
production, and marketing processes.
The Ideal Vehicle for Music as Fine Art
Here are 4 principles and practical suggestions for
musicians who want to elevate their music into the
realm of fine art by following the example of the
painters of the past and present.
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Published: 02/21/17 Updated: 02/21/17