A Millions Poodle - ostentatious display of enormous wealth

Jeff Koons sculpture "Balloon Dog" was sold at auction in November at Christie's in New York for 43 million. | © Christie's Images / dpa

from the article in "Zeit Online" - http://www.zeit.de/2013/47/jeff-koons-kunstwerke

JEFF KOONS

Ein Millionenpudel

Jeff Koons’ Werke brechen alle Rekorde. Sein "Balloon Dog" brachte bei Christie's mehr als 43 Millionen Euro. Er steht für eine Kunst, die nichts mehr ist – außer teuer. 

VON HANNO RAUTERBERG

A Millions Poodle

Jeff Koons' works are breaking all records. His "Balloon Dog" brought in more than 43 million euros at Christie's. It is an art which is nothing more - but expensive.

view this article in ZEIT ONLINE

it is in german, so you would need to have a translator installed.

Recommended: Google Website Translator

Jeff Koons (B. 1955) Balloon Dog (Orange) Price realised USD 58,405,000

Here is my own comment regarding this:

 It is not about "Art" or the value of it, but about ostentatious display of enormous wealth. Once upon a time the oligarchs would light their cigars with hundred dollar bills and have food-fights with beluga caviar. They would buy designer shirts where one button would cost as much as another man's entire wardrobe. It is a display of wealth to the point where they are demonstrating they can and will do anything with their money. Times have changed - this isn't good enough anymore. Even Damien Hirst's diamond studded scull is passe by now, because it has material value. No, now they demonstrate their superior wealth by throwing millions at something totally banal and worthless. Something that says and means absolutely nothing other than "I paid 43 million dollars for it". A few of these purchases, if invested in Greece, could probably take the country out of junk-bond rating. Or it could bring lasting prosperity to a township in a developing nation if for example invested in a irrigation system or something similar.
Museums can no longer afford to acquire these modern 'masterpieces' - they tried in the past by deaccession some of their holdings to raise the money, but one would have to sell an awful lot of Rembrandt's and Rubens to pay for one Koons. Perhaps the ultimate thrill for one of these oligarchs would be if the Louvre put the Mona Lisa up for auction. Then they could buy it and roll it up into a fireplace log....... Koons himself is now enormously wealthy. If he would use his wealth to do some good, the crowd of the super-rich would instantly turn on him, because money made on the backs and sweat of the peons has to be wasted and thrown out the window. Or 'invested' into something that is as utterly stupid as a balloon dog.

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