Monetary value of Cultural images

Bloomberg reports that, a Chinese painting with a Coca-Cola Co. logo has been valued at almost 50 times its cost for a $10 million London auction in October, showing how fortunes can be made by buying contemporary images from other cultures.

New York collector Howard Farber said he paid $25,000 in 1996 for Wang Guangyi's ``Great Criticism: Coca-Cola,'' which shows revolutionary soldiers stabbing at the logo. Phillips de Pury & Co. has a $1.2 million top estimate for the political pop artist's 1993 critique of U.S. consumer culture in its Oct. 13 sale, with 44 of Farber's works valued at $7 million to $10 million.
Lithograph : www.mbergerart.com

Comments

James said…
An interesting example of how brand image can be appropriated and hijacked by others.

Topic also picked up on my blog shoppingbasket.wordpress.com: Coca-Cola painting may go for $1.2m.

By the way, great blog! Very interesting. I'll be back. :-)
Prof.Ray Titus said…
Enjoyed your blog too...

Thanks for the comment, appreciate it :)

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