Originally Posted by davesmith
this would probably sell for $100 million!!!
i will NEVER understand modern art
I seriously doubt it would ever sell for $100 million (and I wouldn't pay $10 for it) but exorbitant price tags are not exclusive to modern art. Art of any epoch at those price levels is often a pure investment game, as with any other commodity, as much as it is about real "understanding" or passion. Get enough people involved in the game and it becomes an escalating spiral.
An excellent and enetertaining book on the art market is "Duveen", by S. N. Behrman, which recounts the story of the legenday dealer Joseph Duveen, who provided works to Frick, Hearst, Mellon, Rockefeller, etc. Very interesting stuff.