The Artist’s Rendering
— Words of Jesus Christ quoted in Matthew 22:21, King James Version of the Bible.
Leonardo da Vinci’s (1452-1519) Mona Lisa, with digitally added mustache. Derivative work by Perhelion.
The international renown of a few popular artists such as Rembrandt was slow to build at first, and their artworks commanded modest prices by today’s standards. It is the international culture of today and the concentration of great wealth among an ever smaller percentage of the population that has enabled the explosion in high prices for the artworks of a relatively small number of well known artists. The last great jump in prices was roughly during the Gilded Age around the turn of the twentieth century, when a great concentration of wealth created a new aristocracy of capitalists.
In the 1941 film Citizen Kane, wealthy newspaper publisher and art collector Charles Foster Kane, modeled on tycoon William Randolph Hearst and played by Orson Welles, discusses his changing economic circumstances with his banker Mr. Thatcher, played by George Coulouris, and his longtime assistant Mr. Bernstein, played by Everett Sloane.
Now there is another concentration of wealth occurring, this time on a worldwide scale rather than limited to Europe and North America. Nothing has changed, of course: as always, the rich get richer. It’s the scale of wealth accumulation that has changed, and when artworks are selling for hundreds of millions of British pounds or American dollars, a mere million for a painting by anti-establishment artist Banksy is entry level stuff. The rich people sitting on mountains of the wealth of the world would not flinch at shredding a million pounds, and the irony of one artist’s rendering matters not at all to them as long as the artist’s growing fame increases their return on investment.
— Vita
10/8/2018 Update: Since last Friday, when Banksy’s Girl With Balloon partially shredded after being sold at auction for about £1,000,000, its value has increased by at least 50%, and may have doubled.