Why art is so expensive, from Gerhard Richter’s paintings to NFTs

After only seven minutes, Gerhard Richter's abstract painting "192 Farben" sells for more than 20 million US dollars at the auction house @sothebys. Why is some art so expensive? The art market is enjoying record revenues - even for highly speculative works. NFTs - "non fungible tokens" - are the market's new promise of salvation. Beeple, The Bored Ape Yacht Club are just a few high-profile examples. Is crypto art now outpacing the time-tested masters?
We ask art expert Bastienne Leuthe from Sotheby's, German NFT artist Manuel Rossner, well-known in the crypto scene, we visit the exhibition DYOR at Kunsthalle Zürich and travel to Colombia to meet emerging artists like @gsolmott, and art dealer Erika Pereira. How do they assess the new opportunities in the art market? And what's the Crypto Kiosk in Berlin? DW’s Arts Unveiled on the secret rules of the art market and what makes some art so expensive.
Special thanks to @vernissagetv for the footage of the DYOR exhibition at Kunsthalle Zurich.
00:00 Intro
01:25 "192 Farben" - The Story of Gerhard Richter
06:40 Art in the digital age
08:15 What is an NFT?
10:00 How are NFTs going to change the art market?
13:50 What makes Gerhard Richter's art so special?
16:27 Conclusion
#dwhistoryandculture
#nfts #gerhardrichter #sothebys #beeple #art #digitalart #davidzwirner
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[@Raitraube]

what a weird world the art world is. compelling show!

[@DWHistoryandCulture]

Thanks, Rainer, for watching 🙋🏻‍♀️

[@klaudiakultura4871]

It also bothers me that art "disappears" in private collections unavailable for the public.

[@DWHistoryandCulture]

Thank you Klaudia, you are right of course. But at least sometimes they reappear when art collector open their collections as private museums or donate them...Which artworks are your favourite ones?

[@thierryvankerm8474]

Niether a NFT nor a Richter (which I admire but he doesn't need money anymore) I'd buy 'concrete' artworks from emerging or 'to emerge' artists

[@susannelenz9707]

Interesting

[@taylan5579]

That's what I also thinking

[@charmerci]

Or you could buy 2000 works of art for $10,000 and really do something important to actually support the artists themselves!

[@rimamitu]

Amrit bikash want's to know about
NFTS

[@user-wn2fc7nn2e]

I myslef artits i would be the after famouse expansive artist❤

[@artorhen]

It is quite ironic that they call their artworks "different" and "original". Only someone that doesn't know anything about art and art history would believe it.

[@jamesromano3288]

Fools and their money soon part.......But Hunters pics for a mere million💩💩💩💩