In this video from Felix TV, Reuters finance blogger Felix Salmon talks to Citi Private Bank Art Advisor Jonathan Binstock about whether artists can be treated like stocks and, if so, what it means for the art world. I didn’t know you could buy a Velázquez for less than a Richter. I don’t pay much attention to the art auctions, but how can that be?
On left, Gerhard Richter, shown in his studio, is still alive and producing plenty of new work. On right, a detail from Diego Velázquez’s masterpiece Las Meninas. Velázquez (Spanish, 1599-1660) included an image of himself in this famous painting of King Philip IV’s family. His facile brushwork and simplified forms inspired many of the early Modern painters, particularly Manet, the Impressionists, and Picasso. Art is so rich, and yet the art market is so disappointing.