Questions

What determines the price of an art piece ?
Is expensive art better ?
Why is art sometimes worth millions and other times nothing ?

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This is Salvator Mundi by Leonardo da Vinci

Bought for over 450 Million !
That was the price of what the prince of Saudi Arabia payed.

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But why was it sold for so much ?

Because the prince had the money and old art is nowadays more a money investment, of course the prince doesn't care about the painting in an art sense. The price is always subjective and never objective because an illustration of a concept can't be priced. And of course expensive art is not automatic better Its always priceless.

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Art Container

To show better how art is used as a money investment see these containers at the Geneva Freeport, storage of art and other valuables and collectibles.
There are over 1 million works of art in these containers locked for ever secured like gold
Used to hide money in form of art and for money laundering.