Jackson Pollock is responsible for painting the most expensive painting, No. 5, 1948, that allegedly sold for $140 million (top left corner). Pollock paintings can be classified as Abstract Expressionism. Many people wonder who in the world would be willing to pay $140 million for a painting but in truth paintings are wise investments that rarely depreciate in value.
J. Paul Getty, who in 1957 Fortune Magazine declared was the richest man in the world, was an avid art collector and declared in his book, “How to be Rich,” that though unknown to most, art is one of the safest investments.
$140 million may be an obscene amount of money to you but if the purchaser is a billionaire, that is only 10% of his income that he paid into an asset. Whereas I know of middle class people who will purchase a automobile, which is a liability, for $30,000 when they are only making $25,000. The wealthy think differently.
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Wow. Bad grammar and bad article overall is all I have to say. This article isn’t even about Pollock. It’s about rich people. Hmm..?