Is a work of art worth $124m?

When a work of art is suddenly famous for its price tag, it feels like a betrayal of one's private relationship to the piece

NEW YORK • Art critics generally hate it when an auction house sets a record. Recently, a painting by David Hockney fetched more than US$90 million (S$124 million), making him the living artist with the most expensive work ever sold at auction.

Every time something like this happens, there is the inevitable question: Is a work of art worth that kind of money?

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A version of this article appeared in the print edition of The Straits Times on November 24, 2018, with the headline 'Is a work of art worth $124m?'. Print Edition | Subscribe