Art ?

 

(Source here)

The above picture is No. 5, 1948 by Jackson Pollock (January 28, 1912 – August 11, 1956). It is currently the world’s most expensive painting ever sold. How do you justify such value for the art work ? How does some one comes up with the initial price ? Why are people willing to fork out such huge amount of money to buy such art works ? What is the intrinsic value of such artwork ? If there is a nuclear war tomorrow, would such art work have the same value ?

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