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\nThe Economics Of The Art Market: Why This Painting Isn't Worth $450 Million\n

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\n\nPublisher:\n\nEconomics Explained\n\n\n
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\nIn 2017, at Christie’s Auction House in New York, a mysterious #Art buyer bid a record-breaking $450 million dollars for the #SalvatorMundi; a painting by the legendary Leonardo da Vinci.News of the staggering purchase price sent...\nIn 2017, at Christie’s Auction House in New York, a mysterious #Art buyer bid a record-breaking $450 million dollars for the #SalvatorMundi; a painting by the legendary Leonardo da Vinci.

News of the staggering purchase price sent shockwaves throughout the entire art market (which, interestingly, has been a reliable indicator of impending market bubbles for decades).

What drives the high-end #ArtMarket? How can art be used to move money in creative ways and get around taxes? And perhaps above all, why would anyone park so much money in a picture when there are other asset classes that actually generate cash, like real estate rentals or dividend-paying stocks? … all this and more in today’s episode!\n
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Resource Details

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Curator Rating
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Educator Rating
Not yet Rated
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Media Length
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16:20
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Grade
9th - Higher Ed
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Subjects
Social Studies & History
8 more...
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Media Type
Instructional Videos
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Source:
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\nEconomics Explained\n\n
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Date
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2020
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Concepts

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opportunity cost, money, appreciation, contemporary art
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the economics of the art market, the most expensive paintings, the most expensive artwork, top 10 most expensive art pieces, top 10 most expensive artworks, the economics of art, the economics of paintings, the art market economy explained, art market economics explained, art market economics, contemporary art explained, the economics of art explained, the economics of the art market explained, economics of art, economics of art explained, economics explained, collectors item, salvatore mundi, hey presto, cash flows, productive potential, art dealer, pay tax, creative ways, original picasso, auction house, art market, move money, supply side, higher price, world filled, market, supply, world, price, costs, investment, works, filled, people, item, buyer, make
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Classroom Considerations

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Best For: Explaining a topic
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