What is the most you would spend in order to buy a photograph? $100? Maybe $200? A Photographer named Peter Lik took a photo titled “Phantom” in the Antelope canyons of Arizona and made art history by selling this piece for $6.5 Million. The black and white photo shows a beam of light coming through a hole on the ceiling of the cannon resembling a ghost like figure. The private collector who purchased this piece has decided to remain anonymous. Art experts have different views on whether a photograph should ever be worth this much money but someone out there bought it so according to that private collector it was worth every penny.
http://money.cnn.com/2014/12/11/news/economy/peter-lik-phantom/index.html?iid=SF_E_River
It is very interesting how small the art community is worth, but how much paintings like this one can be sold for. Most people would not be willing to pay this much money, but their are a rich few who are willing to pay lots of money for pieces of art.
ReplyDeleteThis is an absurd amount to pay for a picture but I guess that's what makes America great. We can make lots of money and spend it on what we want. This freedom of using money in whatever fashion we want isn't all that unique but there are places where this couldn't happen. It seems crazy for us but the buyer wanted it and the buyer got it, because he's allowed to. If I had this kind of money, I'd probably be judged by other people too when I rent the country of Lichtenstein, expand my monocle collection, or become Batman.
ReplyDeleteI found this very interesting since this transaction was for a picture, and not a work of art such as a painting that somebody created. We are used to hearing about Picasso’s and other famous painter’s work being worth extreme amounts of money, but this picture was acquired/created with the click of a button (not accounting for how he got to his location, I do not know if he took the picture from a dangerous spot and/or how much effort it took to get there). Regardless, the news of this sale may increase the value of photography or incentivize photographers to strive for that million dollar shot. P.S. Jake, if I ever become rich I will gladly pay you more than enough to become batman
ReplyDeleteI will never understand how someone could ever pay million for a photograph, or even a painting. Especially in this scenario where there wasn't an auction nobody really knows how much the next person is willing to pay for it. Just because one person offers $6.5million for a painting doesn't mean that's how much it's worth, that just means that person is ignorant enough to spend so much.
ReplyDeleteThe fact that someone will pay $6.5 million dollars for a photo is incredible. This represents a real world application of supply and demand. You never know how much more someone would have paid for the photo. The fact that someone can take a picture so powerful that someone will pay $6.5 million dollars for it is amazing.
ReplyDeleteI could see why such an actual piece of art may be sold for this amount of money but it's crazy that we're talking about a single photograph. Obviously the supply of such a photo is at the bare minimum and I'm not sure if the demand was really there besides this anonymous buyer but it paid off for the photographer. $6.5 million for a photo is unheard of .
ReplyDeleteThe amount of monetary value a painting holds seems so shocking so say the least. But again it depends on every individuals income and their taste/preferences in making such purchases.
ReplyDeleteThis is interesting. If the picture had been painted, would the value have increased? I think the labor hours involved in professional photography are severely underestimated. Whether or not it was worth $6.5 million, though...That's another story
ReplyDeleteI am not a big art enthusiast so I will never understand a purchase like this. I get people have different purchasing power and preferences, but, $6.5 million dollars for a small black and white photo is preposterous. I believe if this was a painting, as opposed to a photo shot by a digital camera, the purchase would make more sense to me. In paintings the artist can express his talents and emotions at a greater rate than just clicking a button. This artist could have just taken this photo by pressing his touchscreen on his iPhone. Looks like I should start taking more photos.
ReplyDeleteI think it's interesting to see how preferences and tastes can be so drastically influential on the price of a good. It is interesting to see how much money can be generated in a relatively small market like the photography market.
ReplyDeleteI think that with the increase of technology in our generation there may be a shift in the art scene from paintings to pictures. I actually saw the picture on twitter and it truly is a piece of art. I can believe the price got that high because it seems like its a picture that will be very hard to ever replicate.
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