As a would-be visual artist, I was always annoyed that once a painting was sold nothing remained to the creator. Music and film had “residuals”, books had copyrights. But once a painting was sold (or traded for a meal) the new owner had any right to its future earnings – even if it sold next year for millions of dollars .
Digital copying has evened that out, of course. Very little remains to most originators. Truthfully, even at its peak, most of the people helping the prime creator – backup musicians, studio assistance, even gallery owners – never reaped a future windfall .
Now the art market is entirely strange, where a banana taped to a wall can sell for 3 million. Some of this is simply potlatch behavior from the filthy rich “look what I can do”. Mostly, though, in certain areas – again among the wealthy – it is simply that demand is high everywhere, but supply of most tangible things is vast_ even gold and diamonds once precious. So anything in limited supply – actual painting from a known artist, Bitcoin, ancient automobiles – skyrockets in value .
Why? Mostly so those people can taunt each other with calls of “I have it and you can’t!”
Fortunately, for most artists, creation is its own reward. As, indeed, it must be .
HuntingtonHarborThoughts 