Leonardo da Vinci’s 500-year-old painting known as Salvator Mundi (Saviour of the World) is the only work in private hands. It just sold at Christie’s auction room in New York for a record $450m – almost half-billion. The painting apparently once belonged to King Charles I of England back in the 1600s. The last time it was sold at auction was 1958 when it was sold in London for a mere £45. At that time, it was generally believed to have been the work of a follower of Leonardo rather than the work of Leonardo himself.
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The painting was sold by the family trust of the Russian billionaire collector Dmitry E Rybolovlev, who is reported to have bought it in a private sale in May 2013 for $127.5m. So that’s a pretty good profit. It is the highest auction price ever paid for any work of art. There are fewer than 20 of Leonardo paintings in existence. The Salvator Mundi, is believed to have been painted sometime after 1505. The bidding began at $100m and the final bid for the work was $400m, with the buyer’s premium, the full price up to $450.3m.
The unidentified buyer was involved in a bidding contest, via telephone, that lasted nearly 20 minutes. The mystery buyer hopefully lives outside of New York so that avoids the sales tax. Purchases above $110 are subject to a 4.5% New York City Sales Tax and a 4% NY State Sales Tax. That makes anything bought in New York City subject to a total Sales and Use Tax of 8.875%.
What is astonishing, is that with taxes, rates rise with the more people. That is counter to capitalism which dictates that prices decline with scale. Government costs rise with the scale showing something is just not right!
Obviously, this is serious money still moving off the grid!
Are those NY taxes applied to used merchandise as well as new?
In any event, it’s an OK painting. What is the symbolism of the crystal ball?
“All money is a matter of belief. Credit derives from Latin, credere, “to believe.” Belief was there, the factories functioned, the farmers delivered their produce. The Central Bank kept the belief alive when it would not let even the government borrow further. (from Paper Money by “Adam Smith,” (George J.W. Goodman))”
Trading scrip for anything tangible. That ’69 Camaro I built when I was learning car restoration was not for me prolly sits in some collection now. Bread loaves, bed pans, cars, da vinci’s, whatever – anything but scrip.
Believers wheel one barrow after another.
“Barrows are boys that have been castrated or otherwise rendered incapable of procreating. This also carries for girls who may be surgically or chemically altered for whatever reason.
Gilts are generally used for making babies. They eat, they sleep and they reproduce, generally between six and nine months old. Once they have babies they graduate to being sows. Gilts that don’t make the cut end up the same way as Barrows, on a plate. They both gain weight quickly and can be slaughtered as soon as four to six months of age for pork chops, or as late as 8 to 10 months old for bacon.
Yum, Bacon ….”
http://www.tattooedhomestead.com/2015/01/what-is-a-gilt-a-boar-and-a-barrow.html
Gilts are also bonds. Short for bondage. Same as the non-compete claws.
I’m liking your comments. It’s very nice to understand them.
That hand signal was flipping the bird in the 15th century.
1913 dollar = approx. .048 ounce of gold
2017 dollar = approx .00077 ounce of gold
$ 450,000,000 ( 2017 dollars) = 346,150 ounces of gold = $ 7,615,300 (1913 dollars)
Federal Reserve fucking us up the ass.
I don’t think it a real da Vinci – composition, the orb, the subject, looks amaturish.
Looks like a Jon Gnagy original:
I hope it turns out to be a fucken fake!
That’s the business for me. Taking an old painting and DECIDING that it’s a masterpiece. The appreciation that decision brought about is so dazzling even my heralded maff skills can’t keep up. Where do I sign up, with numbers like like that there must be a seat at the table still available
Get rid of the FedRes before we have to replace our wallets with wheelbarrows when we go to the supermarket for a loaf of bread. 1913 $ devalued 59 times for today.