Why Spend $110 Million on a Basquiat?

From “Why Spend $110 Million on a Basquiat? ‘I Decided to Go for It,’ Japanese Billionaire Explains“:

Whether or not this month’s sale recalibrates the market for this Brooklyn-born artist, who died of a heroin overdose at 27, remains to be seen. While collectors are likely to consign their works by him in an effort to ride this wave, few top paintings are expected to come up for sale anytime soon. And auction prices don’t necessarily translate into intrinsic value.

People are rich. A long time ago, I wanted to buy at least one picture of Mark Rothko while living in a dorm room with five people, well… Might be it sounds ridiculous to think about it now, but the guy is buying! Moreover, has plans to fly to the moon and back!

What I can say? Good luck!

P.S. Happy for the sisters of Jean-Michel Basquiat, Jeanine and Lisane!

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