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Dec 8 2019, 03:48 AM |
A banana duct taped to a wall at an art gallery and declared "Art" $120,000.
Man eats said banana and declares "Art Performance" Priceless! https://nypost.com/2019/12/07/the-120k-bana...ormance-artist/ This post has been edited by AK Rich: Dec 8 2019, 04:10 AM |
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Dec 8 2019, 09:35 AM |
That's the thing with "Modern Art", it doesn't have to be good. Just has to generate market interest. My fave was when Artist BANKSY sold a framed piece of art at Auction and then triggered the frame the piece was mounted in by remote control to activate a hidden document shredder which shredded said artwork and spat it on the floor. Of course he only activated the shredder after it sold for 1.4 Million. Funniest bit is that it's now worth 2 Million. Modern Art. The Kings new clothes.
A banana duct taped to a wall at an art gallery and declared "Art" $120,000.
Man eats said banana and declares "Art Performance" Priceless! https://nypost.com/2019/12/07/the-120k-bana...ormance-artist/ |
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Dec 11 2019, 08:16 PM |
Part of the "art", especially in the world of modern or contemporary art is playing the game of the absurd. The first example of something like this was when Marcel DuChamp exhibited a urinal on a gallery wall. His statement was absolutely "is it art now?".
It's crucial to remember that the folks buying this stuff have the money to burn and that it's kind of an inside joke. Conversely, a whole lot of early and mid 20th cent. modern art went for cheap and the appreciators who purchased it made a killing. Jasper Johns, Jackson Pollak, Mark Rothko just to name a few. You never know. This post has been edited by klasaine: Dec 11 2019, 08:17 PM -------------------- - Ken Lasaine
https://soundcloud.com/klasaine2/foolin-the-clouds https://soundcloud.com/klasaine2/surfin-at-the-country-hop Soundcloud assorted ... https://soundcloud.com/klasaine3 New record ... http://www.cdbaby.com/cd/kenlasaine Solo Guitar ... https://www.youtube.com/playlist?list=PLXZh...5iIdO2tpgtj25Ke Stuff I'm on ... https://www.youtube.com/playlist?list=PLXZh...b-dhb-4B0KgRY-d |
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Dec 13 2019, 08:01 PM
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Many of the "collectors" in the modern art scene today are not actually art fans but investors. They are looking for pieces that will go up in value so they balance new artist selling cheap with established artist selling for crazy amounts. Many buyers are Saudis these days with just crazy cash to burn and are the hidden bidders on the phone. It's a crazy scene to be sure. That's right. Money Laundering is part of it too, perhaps massively so. Mix in a little tax avoidance why not. If you want to clean up your money you can buy some art, perhaps through a firm or broker that turns a blind eye. You'll never get massive sums of cash into a betting machine like a drug dealer might to launder their money. You want to buy art or property among others. It doesn't matter if it's a banana taped to a wall or a raisin skewered with a pencil, as long as it has value attributed by its desired purpose despite having little to no intrinsic value in terms of art. -------------------- Founder of new startup social network site that brings the good aspects of MySpace, Twitter and FaceBook together.
MyTwitFace. |
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Dec 13 2019, 10:25 PM |
The art world does have a money laundering problem but the $120,000 banana isn't part of it. 120 K is small change in that world plus, that particular piece self destructs or gets eaten so you can't sell it again and clean the money. The laundering happens on Monets, Picassos and Toulouse-Lautrecs. Stuff that fetches well into the millions of dollars.
As I mentioned before, that banana thing is conceptual and at the same time a "wink and a nod" between artists, gallery owners, collectors and critics. It's a statement. The statement is the art. This post has been edited by klasaine: Dec 13 2019, 10:28 PM -------------------- - Ken Lasaine
https://soundcloud.com/klasaine2/foolin-the-clouds https://soundcloud.com/klasaine2/surfin-at-the-country-hop Soundcloud assorted ... https://soundcloud.com/klasaine3 New record ... http://www.cdbaby.com/cd/kenlasaine Solo Guitar ... https://www.youtube.com/playlist?list=PLXZh...5iIdO2tpgtj25Ke Stuff I'm on ... https://www.youtube.com/playlist?list=PLXZh...b-dhb-4B0KgRY-d |
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Dec 14 2019, 12:56 AM |
Ha, ha!
That makes it even more surreal/absurdist. And you know, the fact that a handful of guitarists on an internet forum are discussing it just adds to the whole thing. I like it. This post has been edited by klasaine: Dec 14 2019, 12:57 AM -------------------- - Ken Lasaine
https://soundcloud.com/klasaine2/foolin-the-clouds https://soundcloud.com/klasaine2/surfin-at-the-country-hop Soundcloud assorted ... https://soundcloud.com/klasaine3 New record ... http://www.cdbaby.com/cd/kenlasaine Solo Guitar ... https://www.youtube.com/playlist?list=PLXZh...5iIdO2tpgtj25Ke Stuff I'm on ... https://www.youtube.com/playlist?list=PLXZh...b-dhb-4B0KgRY-d |
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Dec 14 2019, 11:05 PM
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Actually it can be sold again as it states in the certificate of the piece that the banana can be replaced as needed, that is if anyone would want to buy it. It is the certificate and concept that holds the actual value if you read the article. So eating the banana is no harm, no foul which is why no charges have been filed against the performance artist that ate the banana. Works the same as fiat currency then. Where the lines go apart on the following chart is when the US dropped the gold standard for the dollar, meaning money was no longer backed by Gold. It was simply paper to be printed into oblivion thus devaluing the real value of money, labor and other inputs to economic production. I feel the price of the banana is not only a reflection of the state of how the money supply has been manipulated, but also partly a result of this. We the people can't own anything (house, gold...) that offers such guarantee Sadly you are right about housing in terms of its price, which is affected by money printing, low interest rates and increasing debt. 97% of money in the UK economy is debt! Gold on the other hand is worlds apart. It can’t be replicated in the same way money is mass printed and lent on housing and other assets making prices higher and higher. This is why China and Russia is buying and stock piling the stuff, getting ready for the next fiat currency meltdown. Poland just repatriated 100 tonnes of is own. They see what’s coming. Anyone can buy gold in my country (UK), even through a tax free ISA savings account. If you don’t want to own physical gold and be responsible for, or rent secure holding yourself, you can get some through an ETF (Exchange Traded Fund), but only one that is backed by physical is wise. I don’t know about Turkey though. These aren’t secure investments however, you can win or lose money (just like most investments). I only put about 10% my money into these kind of things as a “dabbler”. This post has been edited by Arpeggio: Dec 14 2019, 11:07 PM -------------------- Founder of new startup social network site that brings the good aspects of MySpace, Twitter and FaceBook together.
MyTwitFace. |
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Dec 15 2019, 02:50 AM |
Some sage advice there. Are you a financial planner by chance? A gold ETF (exchange traded fund) is a very good way to go as it prevents any chance of the gold getting stolen/seized, etc. It's just paper after all pointing to somebody elses gold. We are in a low inflationary period just now, but as soon as inflation begins to bite, gold prices will go NUTS and Gold ETFs will follow suit.
Works the same as fiat currency then. Where the lines go apart on the following chart is when the US dropped the gold standard for the dollar, meaning money was no longer backed by Gold. It was simply paper to be printed into oblivion thus devaluing the real value of money, labor and other inputs to economic production.
I feel the price of the banana is not only a reflection of the state of how the money supply has been manipulated, but also partly a result of this. Sadly you are right about housing in terms of its price, which is affected by money printing, low interest rates and increasing debt. 97% of money in the UK economy is debt! Gold on the other hand is worlds apart. It can’t be replicated in the same way money is mass printed and lent on housing and other assets making prices higher and higher. This is why China and Russia is buying and stock piling the stuff, getting ready for the next fiat currency meltdown. Poland just repatriated 100 tonnes of is own. They see what’s coming. Anyone can buy gold in my country (UK), even through a tax free ISA savings account. If you don’t want to own physical gold and be responsible for, or rent secure holding yourself, you can get some through an ETF (Exchange Traded Fund), but only one that is backed by physical is wise. I don’t know about Turkey though. These aren’t secure investments however, you can win or lose money (just like most investments). I only put about 10% my money into these kind of things as a “dabbler”. |
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