The Price of Beauty
There are a lot of reasons for the incredible price tags on artwork. The commissioning and purchasing of artwork has been a major status symbol for the wealthy for all of recorded history. This became especially true after the Renaissance, when merchants and bankers funded the workshops of Michelangelo, Rubens, and more.
Today, the name recognition of certain artists in the public consciousness has greatly increased the value of their work. In some cases, private collectors are so enthusiastic that they won't balk at the cost. Perhaps more often, the constant price increases make art a sensible investment for the wealthy; artwork in private possession is heritable property, often taxed at low rates if at all, and it grows in value at rates faster than many less reliable investments.
Below is a list of the most expensive paintings sold, adjusted for inflation, and their year of purchase.
1 $453 million for Salvator Mundi (Savior of the World), attributed to Leonardo da Vinci (2017)Leonardo da Vinci’s depiction of Jesus Christ holding a crystal orb is the most expensive painting in the world!
The painting was commissioned by King Louis XII of France in 1605, during the same period as the Mona Lisa.
However, somewhere between 1763 and 1900, it disappeared from all records until it was rediscovered in 2005, by a group of British art dealers.
Purchasing the painting for $10,000 they spent six years restoring and investigating its history before eventually announcing that it was a Da Vinci original.
The painting was exhibited in 2011 by the National Gallery of London and became known as the “Lost Leonardo”, as it was the first discovery of a Da Vinci since 1909.
The “Savior of the World” (Salvator Mundi) was purchased by the Crown Prince of Saudi Arabia, Mohammed bin Salman on behalf of the Abu Dhabi Department of Culture & Tourism.
2 $312 million for Interchange by Willem de Kooning (2015) Willem de Kooning’s famed 1955 piece was inspired by his surroundings whilst living in NYC and commanded the highest price ever paid in a private sale.
Hedge fund billionaire Kenneth C Griffin bought it alongside his Jackson Pollock Number 17A purchase, in a $500 million deal. Ifyou want to take a look at one of the most expensive paintings in the world, then the “Interchange” is currently displayed at the Art Institute of Chicago.
3 $274 million for The Card Players by Paul Cézanne (2011)The third most expensive painting in the world is “The Card Players”, by Paul Cézanna.
It’s one of five paintings included in the French master’s 1890s’ series of the same name.It was purchased by the Royal Family of Qatar in 2011, reportedly paying double the existing record for any artwork to be sold at auction.
4 .$219 million for Nafea Faa Ipoipo (When Will You Marry?) by Paul Gauguin (2015)French post-impressionist Paul Gauguin painted this piece when he was on his first trip to Tahiti.
It was one of many he painted of the native woman on the island and its title translates to “When Will You Marry?”.The artwork has also previously been called the most expensive painting in the world, selling for $210 million in 2015 after two years of negotiation.
5 .$208 million for Number 17A by Jackson Pollock (2015)This 1948 painting by Jackson Pollock was the second piece of artwork bought in a $500 million deal by hedge fund manager Kenneth C Griffin in 2015.“Number 17A” isn’t on public display at the moment, however, there are many exceptional Pollock collections on display in museums around the world, including the New York’s Museum of Modern Art (MOMA)
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