An Artist Will Die Poor Before 30 and Their Customers Will Make Millions
Why do we care about art auctions? Why do we care when a well known artist has a painting that sells for a lot of money?
A Jean-Michel Basquiat painting recently sold for a record breaking 110.5 million dollars at auction. Basquiat was homeless for most of his teens and had to sell his painted t-shirts and cards to live. The BBC makes note of its cost, which is over double his previous painting sold which also previously held the record for highest price sold at auction in the US. Before meeting Warhol and others, Basquiat worked in sweaty New York print shops for wages too low to afford a living. The article also described the visuals of the painting and how long betting lasted; ten minutes. For much of his early career, Basquiat sold color xeroxes of his work at noise shows. The article then noted that Basquiat died in 1988 at age 27 of a heroin overdose before ending.
With that in mind, we see that art auctions cannot be for artists as articles about this consist solely of the above information, and perhaps some more details of the buyer (a rich man who, to his credit plans on displaying it to the public) which leads us to believe that it is not about the artist. The painting was first purchased for 19 thousand dollars and will be sold for roughly 5,800 times its original purchase price, none of which will make it to Basquiat or his estate. How cruel is it that an artist who intimately knew poverty and struggle and who actively rallied against inequality and poverty created The Painting Currently Worth The Most Money? Even to consider auctions as a yardstick of an artistâs impact and quality is to relegate the value of art solely to capital. We do this as a society. The artists on the lips of those who donât frequent museums, galleries, etc. etc. are all the artists whose work was considered to be high capital art. We plaster them on various utilitarian items the same way we would a color or a picture of a plant. They are treated as a natural resource to be plundered rather than protected or even used responsibility, as there is no conscience to capitalism. So if art auctions are not for artists, why do we care about them?
Art appreciators often follow these auctions for whatever reason. I assume its for similar reasons of people who enjoy cataloging and tracking memorabilia, theres an appeal to narrative behind objects. Though ultimately all the provenance added to a work is how much it cost at a certain point in time, which is an indication of an artists importance again only if you tie artistic value to capital. As it is an auction, it becomes a lottery of whether or not these paintings will even be seen by the public and therefore is not an innate value of the art auction but rather a potential occurrence resulting from The Right Buyer purchasing the painting. Why do art appreciators care about auctions, if all they learn is the cost of the painting, and maybe become vindicated about their tastes?
The only people who benefit from art auctions only ever seem to be action houses, the rich and if weâre lucky a museum or a benevolent rich person (therefore vicariously us). No money goes to the artist in the US, China, Japan but a small percentage is required to go to the artist or their estate for auctions in the EU and the UK. The end result is seeing rich people spend a lot on something they think is shiny. This is what rich people do with their free time. Coverage of an art auction ultimately only amounts to an announcement of what a capitalist spent their money on. They have nothing to offer us, outside a chance occurance of benevolence, as artists and art appreciators, they do not advance the careers of any artists, most of whom die before their legacy is cemented via the auction circuit and those that have not died are still making work because new work is their only means of income. So again, why do we care about art auctions? They are a leech of capitalism that has engulfed the art world to such a point as to almost be the very thing art orbits around. We see a record get broken and think âoh how nice for the artistâ which relies on a framework still ultimately structured upon capital. Legacies are built by other people spending their money, not the strength of oneâs work. This is quite frankly asinine and the point should be quite clear: thoroughly fuck art auctions and the art/capital complex. Now please purchase my art so that you may sell it for more money than you payed for so I can hope Iâm not dead before I can pay off student loans with a single artwork.














