The Value ($) of Art

I am continually thinking about the nature and definition of art. One aspect that intrigues me is the role fashion plays in art. Why great artists of past eras fall out of favor at times. And why all of a sudden we wake up and realize how great they really were. Take the art work of Sir Lawrence Alma-Tadema for example. He was once the most successful painters of the Victorian era. He painted amazingly detailed reconstructions of life in the ancient world. His paintings were in high demand and he became the most highly-paid artist of his day. His A reading from Homer sold for $30,000 in 1903 (that's like $600,000 today). By 1960, he fell completely out of favor – his paintings selling for insultingly low prices of only few hundred dollars.

Here's the part that tickles me. Remember Allen Funt? Yes, the guy that created the TV show Candid Camera. Turns out that his house was designed in a Roman style. In the process of decorating it to fit the motif, he builds up the world's largest collection of Alma-Tadema paintings. Seems no one wanted them and they were cheap. Now the story gets better. In 1972, Funt's accountant, embezzled all of his funds and commits suicide! Leaving a once rich Mr. Funt cash poor. So what does he do? He starts selling the Alma-Tadema paintings. A painting rejected at $160 thirteen years earlier, now fetches $43,500. Sale prices reach record territory and great art saves the day.

Visit the Rochester Memorial Art Gallery and experience a Sir Lawrence Alma-Tadema in the flesh. Its fabulous! Here's a few examples of his work.