Auction prices/fair market 1 1

[suspense39]

https://www.artsy.net/article/artsy-editorial-risks-auction-prices-artworks-fair-market-value

[Will_K]

Wow.  Great article.  It mentions 2 main reasons for using auction prices as FMV, the IRS and setting/maintaining future prices.

I think another reason would be to set FMV for insurance purposes.

[BCarter27]

4 hours ago, suspense39 said:

https://www.artsy.net/article/artsy-editorial-risks-auction-prices-artworks-fair-market-value

Wow, that was the most long-winded description of shilling I've ever read. Remember when journalists had to be succinct?

[Rick2you2]

19 minutes ago, BCarter27 said:

Wow, that was the most long-winded description of shilling I've ever read. Remember when journalists had to be succinct?

Never. They have to fill column space.

And of course, it raises some questions about the prices on some of the OA out there.

[John E.]

20 minutes ago, BCarter27 said:

Wow, that was the most long-winded description of shilling I've ever read. Remember when journalists had to be succinct?

Oh that was journalism?

[Panelfan1]

From the above mixed comments - I was unsure if the article was worth reading. Well it was. And not crazy long like some of the comments. Thanks for posting.

[vodou]

17 hours ago, Rick2you2 said:

And of course, it raises some questions about the prices on some of the OA out there.

Raises no questions, re: comic art. We already saw it happen in our backwater end of things.

[Lucky Baru]

22 hours ago, suspense39 said:

https://www.artsy.net/article/artsy-editorial-risks-auction-prices-artworks-fair-market-value

That is brought up in the documentary The Price of Everything and talked about.  If you want to see how "fake" the art world is, and what happens to gin up interest in the next auction/big thing/under valued artist/whatever watch it. 

Edited November 29, 2018 by Lucky Baru

[suspense39]

37 minutes ago, Lucky Baru said:

That is brought up in the documentary The Price of Everything and talked about.  If you want to see how "fake" the art world is, and what happens to gin up interest in the next auction/big thing/under valued artist/whatever watch it. 

It’s a decent documentary, but as usual, confuses the art market with the art word (I hate that term). It also continues to hammer home that the price is reflective of its excellence.....which is just not always the case. 

[Lucky Baru]

18 hours ago, suspense39 said:

It’s a decent documentary, but as usual, confuses the art market with the art word (I hate that term). It also continues to hammer home that the price is reflective of its excellence.....which is just not always the case. 

I thought it exposed just how fake the art world is, the people within it are, the prices of the art is, and the length the parties within it will go to keep prices inflated.

My favorite comment was that there are few leaders within the art world and many lemmings.

Edited November 30, 2018 by Lucky Baru