Photos selling at hundred thousands $

[ilghila]

I read an article on an Investment magazine that some photographs (prints) are auctioned at prices ranging up to millions dollars!
E.g. Andreas Gursky sold at 1500000 pounds in London (Sotheby's) or Cindy Sherman sold a photograph at 1850000 dollars in New York (Christie's). Many others range in the hundred thousand dollars.

How come?
What is so particular or valuable in those pictures? I really don't get it.
Does anyone KNOW the answer?

Thank you

 

[shorty6049]

people will pay anything for something worth significantly less just because
a) they think they're getting a deal
b) they think they're getting something unique
c) stupidity
d) want to be able to tell people "i paid 15 grand for this print... isnt i LOVELY?!"
d) if you put a high starting price on something, people are inclined to think its actually WORTH that much or more
- I wouldnt say theres any REAL reason taht people would pay that much for art, especially a photo where unlimited copies could be printed and sold .

i think its crazy.

 

[craig]

I know nothing of the art market.

I do know that photographers such as Cindy Sherman play a major role in photo history. They are photographs as opposed to pictures. Collectors and galleries understand current trends and markets. Much like the stock market. Of course if you are interested in the subject do some serious research. Let us know what you come up with.

Shorty6049: I value your opinion and with all due respect... You have no idea what you are talking about. Do some research.

Love & Bass

 

[curtiswheat]

Here is a little about her.

http://www.cindysherman.com/biography.shtml

http://theonlinephotographer.blogspot.com/2007/05/cindy-sherman-sells-for-21-million.html

 

[MACollum]

The value lies in the public's willingness to pay. The more people who are willing to pay lots of money, the more the item is deemed to be worth. That's my take anyway.