We wrote in November 2019 about the “Salvator Mundi” painting selling for an excess of $450 Million at auction in 2017.
Today, we revisit this story with the question: “What makes something worth $450 Million?”
Here is our prior story centering on this large amount being spent on one lot — one item: https://mikebrandlyauctioneer.wordpress.com/2019/11/18/400-million-at-auction/.
Plans have been made for a Broadway musical in 2022 titled “Salvator Mundi!” The screenwriter of “Salvator Mundi!,” is Deborah Grace Winer who was asked what makes something like this worth $450 Million and more generally what makes anything valuable?
Winer commented as follows:
It’s this idea of following one object through (history).
It’s about power and symbols.
For $450 million, you could buy the savior of the world.
Yes, as an auctioneer for nearly 40 years … it is indeed often about power and symbols.
For high priced property it’s frequently … “Look at how much money I have to spend” (that you don’t) and “Look at what I just bought” (that you didn’t.)
There are essentials … food, clothing, shelter, and beyond that, most else is a luxury.
Why not buy that luxury in front of other people at auction so they can watch your acquisition? Why not have the satisfaction of others’ envy of your power and the symbol you bought?
We sold a fairly pricey farm to a couple several years back.
A few minutes after I said, “Sold!” I walked over and congratulated them.
I asked if they wanted to follow me to the kitchen area where they could sign the paperwork.
The husband replied, “Can’t we sign all that right here in front of everyone?” Maybe he wasn’t finished gloating?
Daxdi, Auctioneer, CAI, CAS, AARE has been an auctioneer and certified appraiser for over 30 years.
His company’s auctions are located at: Daxdi, Auctioneer, RES Auction Services and Goodwill Columbus Car Auction.
He serves as Distinguished Faculty at Hondros College, Executive Director of The Ohio Auction School, an Instructor at the National Auctioneers Association’s Designation Academy and America’s Auction Academy.
He is faculty at the Certified Auctioneers Institute held at Indiana University and is approved by The Supreme Court of Ohio for attorney education.
We wrote in November 2019 about the “Salvator Mundi” painting selling for an excess of $450 Million at auction in 2017.
Today, we revisit this story with the question: “What makes something worth $450 Million?”
Here is our prior story centering on this large amount being spent on one lot — one item: https://mikebrandlyauctioneer.wordpress.com/2019/11/18/400-million-at-auction/.
Plans have been made for a Broadway musical in 2022 titled “Salvator Mundi!” The screenwriter of “Salvator Mundi!,” is Deborah Grace Winer who was asked what makes something like this worth $450 Million and more generally what makes anything valuable?
Winer commented as follows:
It’s this idea of following one object through (history).
It’s about power and symbols.
For $450 million, you could buy the savior of the world.
Yes, as an auctioneer for nearly 40 years … it is indeed often about power and symbols.
For high priced property it’s frequently … “Look at how much money I have to spend” (that you don’t) and “Look at what I just bought” (that you didn’t.)
There are essentials … food, clothing, shelter, and beyond that, most else is a luxury.
Why not buy that luxury in front of other people at auction so they can watch your acquisition? Why not have the satisfaction of others’ envy of your power and the symbol you bought?
We sold a fairly pricey farm to a couple several years back.
A few minutes after I said, “Sold!” I walked over and congratulated them.
I asked if they wanted to follow me to the kitchen area where they could sign the paperwork.
The husband replied, “Can’t we sign all that right here in front of everyone?” Maybe he wasn’t finished gloating?
Daxdi, Auctioneer, CAI, CAS, AARE has been an auctioneer and certified appraiser for over 30 years.
His company’s auctions are located at: Daxdi, Auctioneer, RES Auction Services and Goodwill Columbus Car Auction.
He serves as Distinguished Faculty at Hondros College, Executive Director of The Ohio Auction School, an Instructor at the National Auctioneers Association’s Designation Academy and America’s Auction Academy.
He is faculty at the Certified Auctioneers Institute held at Indiana University and is approved by The Supreme Court of Ohio for attorney education.
