200 One Dollar Bills, of Course

In his book, “Wall and Piece,” Banksy writes, “I’d been painting rats for three years before someone said ‘that’s clever, it’s an anagram of art’ and I had to pretend I’d known that all along.”
I had a similar experience shortly after I started this blog. A curator asked, “The blog, was it named after the Warhol painting?”
Really, I wish I was that smart. But while Andy Warhol’s “200 One Dollar Bills” did not cross my mind — and clearly does not slot into any search for $200 art — it fits within my broader ambition for this blog, which is to create a discussion on the value of art. The Warhol painting, which sold for $43.7 million last year at Sotheby’s, should get that conversation started.
We are in the midst of a much-publicized Warhol bubble. Another Warhol, “Men in Her Life,” sold at Phillips de Pury for $63 million a few weeks ago. That was followed by yet another, of a Coke bottle, going for $35 million at Sotheby’s.
Christie’s also had a major Warhol for sale that week, “Big Campbell’s Soup Can With Can Opener (Vegetable).” I was there a few nights before the auction. The Warhol was estimated to go for between $30 - $50 million. A Lichtenstein was estimated at $40 million. And there were several other Pop Art paintings going for seven figures. Walking among these multi-million dollar paintings, I couldn’t help but think about their value, and that if I accidentally tripped and launched the contents of my wine glass into any nearby object, my daughter could be paying for the damages for the rest of her life. (In some masochistic way, it was also a tempting thought, kind of like how whenever I pass a policeman, a small part of my brain wants to go for his gun, but everyone thinks about that. Right?)
The proximity of these Pop Art paintings to a gallery of Modern paintings, including those by Jean Dubuffet and Marcel Duchamps that were estimated at around $150,000, made me think about just how abstract the idea of real value is — even after you factor in the wealthy Chinese and Russians, skewing (and skewering) the market. The value discussion is an exhausting one, probably second to “What is art?” — which, regardless of its distinction as a cultural cliche, is brought up in a serious context far more than I would have ever imagined (the great Arthur Danto has a great essay that sideswipes the question en route to addressing the post-history of Modernism).
Instead, I tried to consider which paintings will have more of a lasting impact in 100 or 200 years. Shouldn’t that serve as a responsible metric for determining a painting’s importance as an artistic milestone? And shouldn’t it follow: the larger the milestone the higher its intrinsic value, and therefore monetary value?
I didn’t get far with that internal debate, either, because it, too, required a bit of mental exploration, the kind for which I’m ill-equiped. No, I preferred to doubt the masses. And does anyone know much of anything right now? Consider again the estimate for the big soup can: $30 - $50 million. That’s quite a range, $20 million, and one that did not prove wide enough — on the low end. It eventually sold for a meager $23.8 million.





