“When information is cheap, attention becomes expensive.”
― James Gleick
We've come to a point where we're inundated with everyone trying to push their own agenda that it is difficult to both sort the BS out, while also becoming impossible to really appeal/reach out to the people who would appreciate and benefit from what one has to offer.
>I think in the next years we will see rise of companies that help customers make decent choices that are not solely based on advertising.
I'm skeptical. It all comes down to money. The big boys have a lot to spend. Sure, there will always be someone somewhere doing something, but coming out of a niche and reaching out to people is difficult. It is easier get subconsciously influenced by billboards and banners than being aware and knowing what you really want. Especially since no one seems to be aware of if they really need something. Something to watch - https://www.netflix.com/title/80114460
Case in point - is the 'undisclosed buyer' really benefiting $450.3 mil worth? Money has diminishing returns after $70k/yr/person (from the doc above) but people just want more. So we're ready to listen to what people say would be nice to have. Another part is how they've become status symbols.
>For tech stuff there are reviewers out there who test many things and which you can trust
I'm just going to link to a site which I think is very impartial for as long as I've known them and have excellent reviews with their methodology outlined.
It was called thesweethome(.com), but I guess now it redirects to their other website, thewirecutter (was tech stuff only). It has reviews of everything from knives to dishwashing soap (the long read on that was interesting[1]).
It was acquired this time a year ago by NYT and I haven't been too keen on buying stuff in general for a while (again, minimalism) so can't say if anything has changed since then.
> Case in point - is the 'undisclosed buyer' really benefiting $450.3 mil worth?
Of course not! They are benefiting from whatever the difference is between $450.3M and what they expect to sell it for in the future, discounted to present value.
Which means they might either expect to make money on it, or at least not lose too much on it.
For some people, buying art aren't isn't too different from buying stocks... except you can't do anything to enjoy equities hanging on your wall.
> you can't do anything to enjoy equities hanging on your wall.
I can't imagine a half a billion dollar painting being hung on anyone's wall. In fact I can't imagine it bringing much enjoyment to anyone, given it is likely to spend it's life locked up in top secret high security climate controlled vaults.
I doubt the buyer would do that with this piece. It's too expensive and one-of-a-kind to stash away. If you're buying artwork just as an investment to stash away, you'd probably buy many much smaller pieces rather than a headline grabbing one.
I'd bet that this will be hanging in someone's billionaire's living room somewhere (hopefully behind some protective glass). These guys have egos. Saying you own the most expensive piece of artwork ever gets you something that money can't buy (even though you did buy it).
>For some people, buying art aren't isn't too different from buying stocks
You are making it look like there's no emotion involved. Buying art in my opinion is mostly an emotional one, unless you're lucky and getting a Monet in a yard sale (which you admit by saying 'you can't do anything to enjoy equities hanging on your wall.'). Also, it is definitely not a logical rationale like buying stocks. Atleast not a stable one.
For half a billion dollars there are better ways to invest, and diversity. Without risking a single point of failure like here.
Also, what guarantee is there that this will appreciate? What's stopping from this painting's value from dropping to zero in a decade or two? Other investments do too, but that's where the diversification part comes in. Art definitely has it's place in the future, but a specific piece isn't worth risking half a billion dollars over.
There is centuries of data about how this asset has appreciated. It has a brand that has endured 500 years. Most of the stocks you will invest in, probably won't exist in 50.
What could you possibly want to diversify against? It has outlasted Governments, new technologies, and new ideologies. Diversification is a durability strategy and this painting has proven durability across a multitude of change.
>>Of course not! They are benefiting from whatever the difference is between $450.3M and what they expect to sell it for in the future, discounted to present value.
You're writing about him, so he's benefiting. He knows and everyone in his social circle know that he has a painting of DaVinci. His children's friends etc etc. After securing our daily bread and then some, we do things for bragging, pleasure..
Not knowing the buyer, it may also be a way to move cash outa his corrupt country (Russia, China, Saudi Arabia...). 'Whatever happens, I have 2 apartments in NYC, one in Miami and a DaVinci painting i can sell'
― James Gleick
We've come to a point where we're inundated with everyone trying to push their own agenda that it is difficult to both sort the BS out, while also becoming impossible to really appeal/reach out to the people who would appreciate and benefit from what one has to offer.
>I think in the next years we will see rise of companies that help customers make decent choices that are not solely based on advertising.
I'm skeptical. It all comes down to money. The big boys have a lot to spend. Sure, there will always be someone somewhere doing something, but coming out of a niche and reaching out to people is difficult. It is easier get subconsciously influenced by billboards and banners than being aware and knowing what you really want. Especially since no one seems to be aware of if they really need something. Something to watch - https://www.netflix.com/title/80114460
Case in point - is the 'undisclosed buyer' really benefiting $450.3 mil worth? Money has diminishing returns after $70k/yr/person (from the doc above) but people just want more. So we're ready to listen to what people say would be nice to have. Another part is how they've become status symbols.
>For tech stuff there are reviewers out there who test many things and which you can trust
I'm just going to link to a site which I think is very impartial for as long as I've known them and have excellent reviews with their methodology outlined.
It was called thesweethome(.com), but I guess now it redirects to their other website, thewirecutter (was tech stuff only). It has reviews of everything from knives to dishwashing soap (the long read on that was interesting[1]).
https://thewirecutter.com/
It was acquired this time a year ago by NYT and I haven't been too keen on buying stuff in general for a while (again, minimalism) so can't say if anything has changed since then.
[1]: https://thewirecutter.com/reviews/best-dish-soap/#are-green-...