In a capitalist system, the economic value of anything is whatever the market is willing to bear. That economic value is largely uncorrelated with any particular assessment of intrinsic value.
Like many businesses, the art business is primarily driven by marketing. The act of painting is largely orthogonal to the act of persuading an oligarch that your painting is valuable.
Like many businesses, the art business is primarily driven by marketing. The act of painting is largely orthogonal to the act of persuading an oligarch that your painting is valuable.