Comments on: Breaking an Art Sale Record With $104.3 Million for Running Man I http://www.consumerismcommentary.com/breaking-an-art-sale-record-with-104-3-million-for-running-man-i/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Mon, 13 Feb 2012 01:22:47 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Steve http://www.consumerismcommentary.com/breaking-an-art-sale-record-with-104-3-million-for-running-man-i/comment-page-1/#comment-203310 Steve Fri, 05 Feb 2010 19:06:25 +0000 http://www.consumerismcommentary.com/?p=8380#comment-203310 I'm not sure I agree with the comments that the money should have been donated. It's not like buying art is burning money - you're not creating wealth, but you're not destroying it either - you're just transferring it. Who ever is selling it now has the money and they can donate it to the poor or whatever you guys think is more ethical. I’m not sure I agree with the comments that the money should have been donated. It’s not like buying art is burning money – you’re not creating wealth, but you’re not destroying it either – you’re just transferring it. Who ever is selling it now has the money and they can donate it to the poor or whatever you guys think is more ethical.

]]> By: Flexo http://www.consumerismcommentary.com/breaking-an-art-sale-record-with-104-3-million-for-running-man-i/comment-page-1/#comment-203304 Flexo Fri, 05 Feb 2010 16:43:07 +0000 http://www.consumerismcommentary.com/?p=8380#comment-203304 Heh, I appreciate the humor. I'm not out to judge. I think any attention given to art is a good thing. The sculptor in this case doesn't earn any more money when his art is sold for ever-increasing amounts, but I suppode his prestige as an artist increases. And hey, if Bill Gates is the buyer then no one can fault him. His foundation attempts to do much to improve the quality of life for millions around the world, and I'm not talking about Windows 7. He deserves to enjoy some art. But I'm willinjg to bet he's not the anonymous buyer. Heh, I appreciate the humor. I’m not out to judge. I think any attention given to art is a good thing. The sculptor in this case doesn’t earn any more money when his art is sold for ever-increasing amounts, but I suppode his prestige as an artist increases. And hey, if Bill Gates is the buyer then no one can fault him. His foundation attempts to do much to improve the quality of life for millions around the world, and I’m not talking about Windows 7. He deserves to enjoy some art. But I’m willinjg to bet he’s not the anonymous buyer.

]]> By: Evan http://www.consumerismcommentary.com/breaking-an-art-sale-record-with-104-3-million-for-running-man-i/comment-page-1/#comment-203303 Evan Fri, 05 Feb 2010 16:29:40 +0000 http://www.consumerismcommentary.com/?p=8380#comment-203303 Just a note...I was working with a client, who I couldn't convince, no matter how hard I tried - Art is included in your taxable estate (if you have one) and is subject to tax on any gains. Do you feel a work of art is a good choice for spending $104.3 million right now? Without knowing the person/corporation, how can this question be answered. Its like asking with all the suffering should anyone buy a benz at $50K when they could buy a honda for $15K and donate the rest. If everyone did this, I bet it would raise a lot more than $104.3 million PER YEAR. Just a note…I was working with a client, who I couldn’t convince, no matter how hard I tried – Art is included in your taxable estate (if you have one) and is subject to tax on any gains.

Do you feel a work of art is a good choice for spending $104.3 million right now?
Without knowing the person/corporation, how can this question be answered. Its like asking with all the suffering should anyone buy a benz at $50K when they could buy a honda for $15K and donate the rest. If everyone did this, I bet it would raise a lot more than $104.3 million PER YEAR.

]]> By: SteveDH http://www.consumerismcommentary.com/breaking-an-art-sale-record-with-104-3-million-for-running-man-i/comment-page-1/#comment-203302 SteveDH Fri, 05 Feb 2010 16:25:38 +0000 http://www.consumerismcommentary.com/?p=8380#comment-203302 Suppose…just suppose you’ve received the following response: Hey Flexo, don’t dis my art, man. This particular “Running Man” represents my fleeing those European Union Regulators and adds beauty and release to my otherwise dull retirement life. Bill G. Would you question his charitable giving? Would you call him a spendthrift for paying all those fees and insurance bills? Just suppose… Of course if the check bounces, that’s another story ;-) Sorry, I had to do it: After the last couple of stock markets days, humor is in short supply. Suppose…just suppose you’ve received the following response:

Hey Flexo, don’t dis my art, man. This particular “Running Man” represents my fleeing those European Union Regulators and adds beauty and release to my otherwise dull retirement life.
Bill G.

Would you question his charitable giving? Would you call him a spendthrift for paying all those fees and insurance bills? Just suppose… Of course if the check bounces, that’s another story ;-)

Sorry, I had to do it: After the last couple of stock markets days, humor is in short supply.

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