http://www.cnn.com/2009/WORLD/europe/02/24/france.ysl.auction/
http://www.nytimes.com/2009/02/24/arts/design/24auction.html?scp=2&sq=auction%20show%20in%20france-%20YSL&st=cse
Despite the global economic crisis, a lot of money seems to be left over. On monday February 23rd, the private collection of the now deceased Yves Saint Laurent (prominent womens fashion designer), and his partner became the most expensive one ever sold at any auction. It consisted of over 700 original pieces including Picasso, Mattisse, and Monet just to name a few. Bringing in more than 264 million dollars on the first night alone; over a 3 day period. The overall estimate of the income being made from the auction was 384 million, it exceeded this limit by 50%. All the money collected, was distributed to various cultural projects, charity and the founding of a new research center to combat AIDS. Christies, the auction house that held the auction, had a representative that said, " It is one of the most sumptuous private collections of our time, a French paragon of quality and taste."
Questions:
Do you feel as though spending money on art is a waste, even if it represents an optimism of society and the proceeds go to charity?
Do you think this was a reasonable time to hold the auction even in the event of the economic crisis?
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I think that this is a great thing. No, I dont think that spending money on art is a waste in any way. If it makes you happy then buy it, and ejory it. I think this is an especially good way to spend money because not only the buyer is benefitting from buying the art. The money is going towards charities and such, so this would make the buyers feel better about their purchases.
ReplyDeleteAnd I think this is completely fine time to run the auction. Obviously people are still spending money, if they brought in that large amount! I think it is apparent that the economy is not going to stop people from having what they want, at any cost.
I think that the fact that this auction's profits went to charity is wonderful, the people that even in times of economic depression still commit to helping other are the kind we need in the world. But I do see a seedy underbelly to this issue. There are so many Americans struggling, trying not to loose their homes, their cars, their lives right now. We have been led to believe this depression has been hitting everyone, hard, but then why do people have to money to buy priceless art? This is a great example of the gap between the have and the have not's in America. There are some people who are on the streets now because they can't afford the cost of living, and there are others that are spending millions on art. Maybe this was an insensitive time to run the auction because it brings this fact into the light.
ReplyDeleteI think the fact that the money went to charity is really great. We keep talking about the economic situation, but i can't help but think about the fact that charities aren't getting donations like they used to. So this in a way makes up for it.
ReplyDeleteI think people are bringing up great points. I agree on the fact that the profits are going to charity.. that is just great! But on the other hand, it was kind of a weird time to have the auction. As was said before, the whole country is going through an economic crisis right now yet all these people are suddenly dishing out millions of dollars? It just seems weird to me. Don't get me wrong, I think art is a great thing. I'm just curious as to where this money is coming from.
ReplyDeleteArt is an essential part of society. It has been around since the dawn of man and it clearly has a hold on society. Art, especially such substantial art evokes positive feelings with the people and we should take that away because the economy has fallen on hard times. It's good that art is still appreciated in economic crisis. The money also went to good things so I don't see why there would be a problem with it. It may cause the rest of America to be envious of having so much money but envy is what our economic system is based on. We want what other people have and we want to have the most so we can then be envied and in doing so we make more and more money and work harder to achieve a life that is worth envying.
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