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A Scream worth $119 million


Steven_Draker
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http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/05/Scream%20Sold_0.jpg

 

"If Munch's Scream was a public company, its stock would be limit up now, because contrary to expectations of it selling at a just concluded auction in Sotheby's (on May 2nd 2012) for $80 million, the painting just slammed all expectations (except LaVorgna's we are told), selling at a record $119,922,500 (that's $119.9 million... for a made in 1895, 36" x 28.9" painting). This makes it the highest amount of money ever spent for an artwork, with only Picasso's "Boy With a Pipe" and Giacometti's "Walking Man I" selling for more than $100 million in the past."

 

http://www.zerohedge.com/news/scream-worth-119922500

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Yesterday morning on the CBS morning show, they were saying upwards of $200 million. The one that sold yesterday is one of four versions of the Scream - this one done in pastel on board. The frame was also hand painted by Munch and included a poem he wrote about the inspiration for the painting. I think if I lived in Norway with that horrible weather, I would scream too!

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When you sell at auction - the seller pays a premium that usually averages between 15-20% of the hammer price and the buyer pays a similar premium. It should be noted that once you move into estates appraised at millions and or single pieces of art / sculpture similarly appraised - this becomes a mute point - as it is usually intensely negotiated before hand by all parties involved and can drop down to as little as 10% for both sides or in some epic transactions like this particular piece of work as little as 5-7% for each side.

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Thanks for the knowledgeable answer bootdad! It seems like the SALE is the only time and then rarely that the New Owner is ever named?

 

I'm sure this is due to the Amounts Paid.. I do remember an instance year's ago where it turned out the Buyer did not have the Amount Bid..very embarassing for those involved....

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I am surprised at the amount, and not a fan of this piece. Although, as a collector who has foolishly or not-so-foolishly invested a chunk of my savings over the years for retirement in art which I enjoy, it is a good sign of the art market regaining some strength. At least that is what I am telling my self as that time gets closer and closer for me....

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