The economics of ridiculously expensive art
- Written by Bronwyn Coate, Lecturer, RMIT University
Leonardo da Vinci's Salvator Mundi recently sold for US$450 million.AAPWhat would possess someone to buy Leonardo da Vinci’s Salvator Mundi for US$450 million? You might think it’s an investment - after all it was previously sold for just US$10,000 in 2005.
From an economic point of view, art can be an investment. Although the research...