Jan 152014
 

Last year a painting by artist Barnett Newman was sold at an auction by Sotheby’s. It set a new record price. The piece is called Onement Vi. It was painted in 1953 and it measures 8.5 feet by 10 feet. The reason this canvas is so coveted is because it’s the last remaining piece of the Onement series (1 of 6.) In 2012 another painting in the same series sold for $22.4 million. The remaining 4 pieces are currently owned by museums. Talk about exclusivity 🙂

Here are a few pictures of what the oil painting looks like.

14-01-bluepainting, expensive painting

Isn’t it brilliant? 😀 The flow of the surreal blue paint is almost mesmerizing. The deliberate blue brush strokes and the slightly different shades of blue really comes together well. I love how the carefully placed slightly blue-er blues around the edges of the blue canvas really brings out the entire blue-ishness of the blue painting. A few strokes of deeper blue gives it that final vibrant blue finish, without making it too overwhelmingly blue. Wow, what a masterpiece! 🙂 6 blue stars out of 5! 😛

So how much do you think it sold for at the auction?

Six bidders had to fight over this one, but in the end a telephone bidder speaking Italian ended up paying $43.8 million to be the proud owner of this painting. They say a picture is worth a thousand words. Apparently a picture can also be worth a lot of money 😉

Whether the artwork is actually worth that much money is debatable 😕 But as an investor I can certainly appreciate the financial opportunity of fine art. If the other canvas in the same series sold for $22.4 million in 2012 then these paintings have gone up in value by almost 100% in just one year. What a fantastic return! 😀 Okay, it’s decided then. I’m going to invest in some fine art 🙂 I probably can’t afford anything from a Sotheby’s auction but I’ll keep my eyes open for something more affordable.

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Random useless fact: Minus 40 degrees Celsius is exactly the same as minus 40 degrees Fahrenheit.