Wednesday, 8 June 2011

"Insolvency" painting sold for record price at Irish Auction

€1 million was spent in just two hours at an Irish art auction last week, according to a report in the Irish Times.  One work, "Insolvency", had sold for €7,297 at an English auction last March, but "made" €36,000 at the Dublin bidfest. 

Think about that one for a minute.  A record bid for a painting called "Insolvency" in an insolvent country.

We can draw some conclusions here:

1) Richard Bruton is picking the wrong targets for his "austerity" drive in selecting the hard-working poor in the catering and retail sectors.   It is unlikely they were strongly represented at this event.

2) In contrast, one of the bidders - interviewed on assurances of anonomity by the Times - was a "medical professional", eager to salt his cash into art rather than deposit accounts. 

3) There must still be a sizeable portion of people in this country with hot money, in sectors those in Revenue don't bother their lazy arses to investigate.

4) What a country we live in.

I've a suggestion for  Richard Bruton and Irish art investors alike, for the next auction around.

Something by Andy Warhol.

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bananaananaboy said...

Banana Republic or check how this fits up your arse Richard?

The Gombeen Man said...

The second option might give him an idea what it's like to be shafted up the you-know-what, PB. Own medicine, and all that.