What makes art so expensive? | CNBC Explains

Wealthy buyers will shell out hundreds of millions of dollars for a work of art. So what makes some art so valuable? CNBC’s Elizabeth Schulze explains.
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[@ayelico438]

Me: *Draws a Line* Judge: SOLD FOR 1M*

[@patw.6567]

Ayelico same

[@gavinreid5387]

No one ever.

[@alexm566]

too much effort. they had BLANK pieces sold for $$$ kzbin.info/www/bejne/b5Kqg3uFpbKFi8k Art is nothing but money laundry.

[@ape2533]

Yea im sure that happened

[@delayedcreator4783]

Draw 3 weird shapes with 3 random colours Judge : 69 million ..3, 2, 1 anddd.....sold

[@andrewau2570]

duct taped banana: *sells for $120,000 other bananas: 1:48

[@megasocky]

Art is more the story behind it. The price is also determined by the auctioneers, its not like picasso decided his art should be billions. Same with banksy. He never wanted his art to be auctioned but people spend a ton of money just for a wall he graffitied on

[@MrMilanoLau]

Money laundering makes some paintings expensive.

[@kayaeki]

True

[@alexm566]

anything above 1MM has to be money laundry.

[@dr.livesey7595]

@@alexm566 Salvador Mundi 450 Mio. and it's Saudi Oil Money so clean money

[@ageofechochambers9469]

You have to learn about tax breaks . More money is made from tax breaks in art than laundering.

[@witchofweather]

It's funny how people on here don't understand that each time a piece is sold, it is worth more. Depends on who owned it before, how well known it is. Art is an investment. even if you don't "get" art at least understand that it is an investment just like any other. If you buy art from an artist that is not known, there is more risk as the artists work may never be worth more. but It could be worth a million in 10 years. Or a million in 50 years and is can make your family money. You can buy a painting for a million, let it sit in your vault for 50 years and then sell it for 20 million.

[@madArt1981]

Art will always gain value. The difference is little known artist s will gain little and a well known artist will earn more.

[@wendygoerl9162]

Doesn't always gain value. Art styles go in and out of fashion, and prices go with them.

[@jaylovestesla1099]

Your painting sucks tho no one would ever buy em

[@anonymous-et6to]

The Fine Artist stfu

[@jesuskomailful]

Also its a gamble, for easy suggestions in my opinion, thats why quality of an art is important. What you like or your taste of style. Basically if you know artist and its background. For investment so that how long his/her career can upgrade. Knowing or analyzing, you invest. Cheers

[@AaronGarton666]

For a short video, this was very good. I would add, however, that the works of certain artists, such as Picasso, have become commodities. That is, like stock, they are sold and traded as speculative investments. Whether those investments will hold up in the long run remains to be seen.

[@deanwinchester6654]

She can catch it. Art prices are all sketchy.

[@m.b.775]

Picasso drawing circle , only circle, nothing but a circle : 20 million 💰

[@guppy0112]

Like Larry Poons 'Dots' paintings- but he filled in the circles, hence 'Dots'.

[@lothean2099]

As an artist, i understand about beauty in the eye of the beholder.

[@anonymous-et6to]

lothean stfu

[@msec109]

Like these short videos, good job, good host

[@ElizabethSchulze]

Thanks for watching!

[@abhiram7206]

Yeah, straight and simple explanations!

[@JenHamon]

I don't know why this lady keeps using Picasso as an example of "scarce" artwork. He was massively prolific over his lifetime and many of his works are relatively affordable for an artist of his reputation.

[@henrik5761]

Prolific yes, but please name one affordable item made and signed by Picasso?

[@katem6562]

Prolific yes but because he has died there is now a limited supply because he isn’t going to make more

[@mobspeak]

You were great in Rogue One.

[@subasshrestha5806]

Interesting n lovely presentation as well.

[@biasseniart444]

I hope my artworks could sold like picaso painting.. 😊

[@1eagleeyez]

That reporter is a work of art.

[@kojoman75]

I earned a living as a jewelry model maker & lost wax casting, and must admit I earn a good living, but never what some of it was later sold for after leaving my workbench.. Now since retiring, I am back to my first love, drawing & painting menus worries.

[@TheArtOfJerry]

Art is priceless

[@italiagorino6358]

Loved your video. Finally prices..we like news about abstract prices today

[@shashanksaxena547]

Good work, I actually learned something from this!

[@ElizabethSchulze]

Glad to hear it. Thanks for watching!

[@henrik5761]

This is good. Well done, good research

[@fatoomgierdien2181]

Interesting information. Thank you

[@purohitsunilpahadi1929]

Excellent

[@vintageswiss9096]

I spend 2+ months of my life making something to bring you enjoyment. That's why.

[@flavius_pisapia_sculpture]

If there is intuition there is value. That means there has to be something spiritual poured into the art. This is done by the artist. Not all artists can do this and that's why not all art is valuable. Most of today's art is not art anyway.

[@subasshrestha5806]

Nice informative video

[@icy-r9z245]

Where is my brush ?

[@niichigary8609]

U dont need one use your fingers and like put dots and draw a weird shape around it then scatter colors in the painting that's 5m right there

[@artworld9799]

So important and informative video. Really great job. Greetings💞👍

[@Jackseyez]

It’s hard to make any kind of artwork expensive no matter what

[@vishalpandey2890]

Presentation was impressive and efforts put in need to be lauded but being an average Indian with not much experience in this field made comprehending a bit difficult ❤️😉🙏👍

[@StudioYulianto]

Pertanyaan menarik yg tak mudah di jawab dengan pasti. Namun hal spt ini berlaku di semua belahan dunia dari dulu hingga sekarang.

[@icyboy771z]

Art market is like the stock market for billionaires to play in.

[@michellehuang8257]

what art museum is that?

[@JimmyCee123]

You can either buy clothes or pictures .... God bless Ms Stein she was right

[@photostockcanada]

Time taken, materials used, and all the art that never sells or comes to fruition and the years taken where nothing sells. Everyone wants art for free, - see if your plumber will work 20 years for nothing in the hope someone may eventually pay them.

[@yousraadly7341]

When you can do the same come wounder , paintures heels people & stress reliever just watching them .

[@littlegirl-lc8lh]

thank you very much War Lord!!!!!!!!!!!!

[@hqshorts9481]

I like your content

[@user-rq9tf3yi4i]

Aw...wow thanks,have a nice day ✨

[@ikpesaekevi5373]

Why certain car brands cost more and sell more even when their competition offers better performance for cheaper price?

[@ajinkyaubale9713]

Ikpesa Ekevi you can say water is most essential to humans , why because it's help us to stay alive . So it's should be most important thing right . So it's price should be higher than Picasso painting , now here comes demand and supply rule . When supply of water is high the demand is less so u get low cost or free water . But when Picasso painting comes to market it's 1 and only and painting have numbers of buyers so , in economics we say demand is higher so the painting goes to highest bidder . So what you learn Picasso has created his name as a brand as iPhone , Gucci and there are too many people like his style so it's Picasso brand is one of its kind and there are not that many painting

[@lilelf1075]

@@ajinkyaubale9713 but why ferrari 250 gto cost less than that guys painting, its rare and it has more function. 30 million is too low.

[@lilelf1075]

@@ajinkyaubale9713 enzo ferrari is cooler than picasso.

[@wesly6]

@@lilelf1075 we got it mate,you really like ferrari, that's not Picasso's falt

[@kusuken3118]

@@lilelf1075 i think its because the art is one and only. For the ferrarri its at least have one more copies.

[@user-mh7ld8ki4y]

Art is not everones cup of tea but sure one can understand the dynamics and sure once you value art it is when u start to appreciate art and artists

[@allfazkhadem6950]

My Brush Sold: 7 million

[@someguywithabirdface2583]

I sometimes when people treat art to something worth more than life rather than as lesson form of interpretation from painter point of life

[@thebirds2406]

Well art are expensive not because "The painter is well known" it's becayse of 1)The Gallerist/Art dealer, 2)The guest lists Art collectors they invite at your art exhibition 3) And the value of your Art work is it temporary fast money Art work or Long lasting fine Art work that people can treasure the buyers and collectors know which type is your Art regarding to hiw much they are going to bet on it and compete. -So how much worth is an Art piece? It does not really depend on How well known is The Artist painter, because there are always New Artist/painter and New endless art work to explore… too many each year, but the Art dealers and Collectors they have good eyes and see the work put into it meaning they don't really need to know who is the painter if this is even his first time exhibition, it all depends on his or her Art work, how good or how interesting is it if it's Pop Art. Art is expensive depends on the Artist work and The Art dealer, as they sell and make a bet on your art work, it could be during an exhibition , inside an art gallery, again it depends on the portofolio of the people Clients/Art collectors/Art dealers they will invite at your exhibition. So it's about you as an Artist doing a great Art work and people love creativity, good quality, good work they are also willing to pay fortune to treasure your Art work, or invest and resell it again maybe. In fact the bid from the Gallerist or The Art dealear make the Art very expensive or cheap. Therefore Art collectors, Art dealers are not interested in cheap Art, the price has to be high, how high depends on the Art Dealer they are great great sales just like brokers, or property agent how they do it it's like selling property or stock market , they increase the price depends on How is the market, How is the economy and trade if it's good this year then the Art dealers will dare to put an exhuberant price on a piece, but again for the exhibition your art work has to be at the right place, and get the attention of a bench of Art dealers and wealthy collectors the perfect package of guest lists at that exhibition. -There are bad Art VS fine Art too, Pop Art may worth million but it's temporary, it does not last, soon forgotten let's say in 5years time. People wouldn't know who was that Pop Artists, but Pop Art can make money similar to fast fashion. It's a hot bid and hot gambling just one shot in at time and the bad and good thing about it for the Pop Artist, well they can make 5million dollars bill even more if they succeed to sell at the right place, having the right guest lists attending buyers but afterwards from 1million dollar art piece it will be worth 5000$ next time or maybe even 200$ still making money though and fame but one shot and not remembered. Their Art cannot be treasured unlike good Art, it's timeless passed on generation to generation and its price will increase, Great Artist making good Art , they become legend known everywhere, also their work last and still it's still look beautiful and captivating as 20years ago as much as today even if it's the first time you are seeing that good Art work. -How exoensive is a painting, Everything is in the hand of The Artist and The Art dealer eye. The Artist may choose if they want to make good art work VS bad art work like fast fashion art pieces and make money fast, again it all needed a great portofolio of Client present at your exhibition very importany. So socializing and contact is very important, the people who have money and appreciation in Art, and willing to treasure one's hand work. This is why there are great Artists out there painting on and on, but no socializing, no contacts, people will not be informed at the end being an Artist is both passion and a job, you have to make a living out of it. So some good Artist , they never get to be known and very schocking when one pop Art Artist can sell his or her Art work for million dollar a painting they made in 20minutes. Afterwards whoever buy the Art piece how much they put, well rich people do not like to buy cheap things, if it's too cheap they will not invest. Interior designer may for decorating appartment, but rich collectors and Art dealers they will not buy cheap Art, besides buying an Art work for 1million dollar is nothing for those wealthy and rich it is even a competition for them to show off how much they can spend but first your work has to be good art, lucky you if it's Pop art at the right place! 😊 We simple commoners are borrowing that 1million dollar money for university tuition and paying it back in 6years of our lives. Sometime I see wealthy people are big dreamers and big gamblers and for everything they just dare, they do not settle for less but more and more , and they set the bar very high and they are going for it, and collect their prize after they made a good deal and good business

[@serioushamster]

0:07 lol

[@atharvasagavekar5778]

Look at their emotions put that money matter awayyy

[@jacekpokrak9258]

Art advisors are waiting for questions from collectors what to invest in, in what direction of art. Often comes the answer: Compmaturism. Why? You'll see for yourself.

[@MrIrons-og3rg]

My artworks will sell for millions very soon

[@simplyincorrigible7708]

Oh. Is that riley reid again. Glad to see she went mainstream.

[@daniellovestodance]

Do one in start up investing !

[@cristygarratt5960]

Daniel Tan Good idea!

[@afroarabianempire]

The next big selling piece of art is called After World War Three by South African Artist Farook Mohammed on exhibition in Nelson Mandela Bay at the Athenaeum South Africa

[@ladystarart888]

...im looking for a buyer:))got some great art to sell

[@barbarabarbellatorrealba5124]

Poor caricaturist hearing ''just a couple of bucks'' right next to her.

[@chainsawartbyjustinberry4401]

And here I am giving my art away for just hundreds I'm a upcoming chainsaw artist and painter my stuff sells as fast as I can make it I'm so blessed didn't even know I was an artist

[@rickrandom6734]

Tax evasion, money laundering, tulip mania, greater fool. Those are the key words to understand this phenomenom.

[@sunitadwarka347]

All over the world people are buying branded clothing. Branded clothing have some art. In past most of women were earning bread only by some art. 40 years back they're were teaching in school, how to do embroidery. Slowly all the women want to work in office but they spend money in buying beautiful design clothes or shoes. We must think how we can again make art as part of life . Many women are jobless, they can not cope with society. We must remove inferiority complex from them and give them job. I see very bright future for art. We must work to remove all hurdles. Please make one video on above topic written by me. Rest you know. You have covered the topic very nicely. Love you. Namh shivay.

[@AlxzAlec]

I could paint a bunch of dots on a painting and make people think it costed me millions

[@lordbunbury]

Al_xz no, if a famous artist does, or more likely did, it when nobody did it then it becomes worth millions. When Kurt Cobain played a song by Nirvana it’s art. When you pick up a guitar and play a Nirvana song it’s amusing at best.

[@gavinreid5387]

To late. That has already been done by Polke and Hirst. Your art is derivative . No sale.

[@ananthakrishnan2876]

Make a video of video market .....in worldwide

[@aryamehta007007]

Give few people a lot of money and a lot of people a few money then this Industry pops up.

[@sunilvasudeva2986]

Love.you... Your.art.pic. Made.by.street.artist

[@rashtrakarki1475]

Every Art is masterpieces...... Money makes ..... Expensive ? Reply please? ?

[@mariemountson1819]

Im modern abstract contemporary artist 👩‍🎤

[@whiskey4609]

how much for bricks and metal

[@gavinreid5387]

How much for paints and canvas?

[@mamboferido4741]

Drops a handkerchief. Sold for $450,000

[@willeek3760]

art of sales (*_*)) selling 2 the willing ! (some are worth some are hype)

[@jakaylaogilvie249]

im only 13 and i sold my art piece for 100,000 dollars

[@nicmessi2591]

Jakayla O'Gilvie I would like to see the art you made

[@gavinreid5387]

Hello, Akiane.

[@pierre-rose7783]

I know I could likely make a fortune with a few simple creations if only I could be at the right place at the right time, and establish myself as an "Artist"........ It's all Artsy - Fartsy" to me anyways!

[@galaxymotionpictures6108]

So you trying to say that not anyone can make million dollar peice of ART, only painting made by renowned people can mint million dollar even if they make a peice of shit? THIS IS SO UNFAIR........

[@gavinreid5387]

Not so expensive. Most art only costs $200 or so.

[@LehuaUHH]

The paint....

[@LehuaUHH]

Someone should show how all the specific eggs make different colors.

[@user-fe8xe5kp6e]

I am a Beijing art in college

[@goldcanyon340.]

There is a sucker born every minute.

[@peppermintmiso4341]

I swear most art buyers just use it as an exploit -- maybe tax evasion or money laundering or something~

[@thephilosopher5799]

Make your own art. It’s really better to just learn art skills and hang up your art. Find decent prices if your gonna buy someone else’s modern art.

[@nalanazi9866]

i'm here because i'm giving up on life and i'm tryna be rich as fast as possible

[@ericswain4177]

Elitist Taskmasters set the value and cost ,Its just fraud when you get down to to it.

[@Blue2024_rs]

If that's art than I'm an alien

[@gavinreid5387]

Welcome to earth.

[@SoyJavero]

How nice girl is she.

[@CAS89]

The NAME makes it worth money

[@mariotowers6855]

Ok no need for 4:26 video if the painter is dead it costs more end of discussion badabim badaboom

[@nunsense8463]

Would you genuinely want to click on a video 3 seconds long 😂

[@datyson4618]

Yea wtf. Stop drawing

[@Sindoku]

I’ve never seen a single piece of art that is art in the traditional sense that I would spend more than $20 on, and even that is probably being very generous. I just don’t understand why it’s so expensive. It’s just a painting, it doesn’t offer me any value, in fact, it’s like negative value. Now computer art, I can get behind that. I do appreciate a good design on a phone, a nice looking website, but that art offers something to me, convenience. It makes the website nice to look at. It makes the phone pleasant to the eye via color arrangement and size, or easy to hold in the hand via modern plastics sculpting. I also appreciate good graphics in a video game but I’m also happy with cartoonist looking graphics in my games too. I care more about the “flow” of the game though. I guess I just don’t understand what made all this traditional or old art seem so important to anyone else. What does it offer them that’s worth $100 million for a single, seemingly simple looking painting?

[@el-tw4tt]

Its kind of the same as why would you pay to go watch a movie. You may not be a art kind of person but some people are and they would pay to watch a piece that makes them feel?

[@lovemussb1940]

Rich people make art expensive.

[@simplyincorrigible7708]

Income inequality. Rich Can't spend $300 million on a painting if they paid their employees based on their true value.

[@OmerMD]

The potaToe? 🥔

[@daffyslooney2867]

Boy, there's so much garbage out there being exhibit!

[@ryersongorman5237]

Arts is all about cultures and civilization, but it is worthless...for appreciation only for for economic value.

[@heinhtetaung5957]

Funny video. It doesn't match with the title.

[@user-fe8xe5kp6e]

I have my own art KZbinr

[@jazzlaoeder2889]

Can do cyber sex or cam model industries.

[@mysticalpineapple7263]

jazz lao Eder 0 to 100

[@JediMik]

ahaha, i sent this video to my ex-wife, she is an artist )))

[@kemicraig9660]

Disguised Money Laundering!

[@anishachoudhary3357]

This simply waist of money for me...

[@CHR588]

This video is basic and doesn’t even scratch the surface

[@extrapathos]

But how can you tell a million dollar abstract painting from something a child skribbled? Does it even make a difference? Art that a kid makes should be even more valuable b/c there is only one in existence.

[@kappa633]

I really think this is foolish. Its just rich people throwing away their money. Its ok if it is really old and by great artists but they sell plain art at such high costs what rubbish is this. I really think it is just stupid and waste of money.

[@Salman-tf2cs]

If everyone this like u and me then who are the idiots buying, no offense but they are complete rubbish whatsoever, im an artist and i know theyre dont cost the price they sell it for

[@nikkivieler3761]

Elizabeth is cute...

[@lilelf1075]

These paintings are rubbish though, so why do people buy them?

[@wendygoerl9162]

Marketing.

[@lilelf1075]

You dont know*

[@michaelnewton1332]

Repeat after me: Money Laundering!!!!

[@tanayyy2875]

stfu

[@Itzon100]

Mafia.

[@R01031967]

Stop spending on paintings and start buying from new technologies :3