whatilearned
Read more: https://www.interviewmagazine.com/art/andy-warhol-glenn-obrien-1977-interview
TIL in the 1970s, artist Andy Warhol thought that his artwork wouldn’t go up in value after his death. In May of 2022, Warhol’s portrait of Marilyn Monroe sold for $195 Million – making it the most expensive American artwork ever sold at auction.
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But of course, one guy owns 80% of his work in order to control the value.
[Source](https://www.forbes.com/sites/carlieporterfield/2022/05/09/andy-warhols-195-million-portrait-of-marilyn-monroe-breaks-record-for-most-expensive-american-artwork/) for the second comment in title.
Don’t all artists’work go up in value after they die? This isn’t exactly Nostradamus level prediction skills so much as guessing if you touch fire it will hurt.
Rich guy auctions painting. Buys it back for a ridiculous sum, then donates the painting. Instant tax writeoffs, and a national think piece about the art to inflate its value. This is tax avoidance. This is not art.