More proof of the irrationality of the art market and how artwork is priced. Rem... | Hacker News

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elyase on Oct 14, 2013 | parent | context | favorite | on: Banksy Art Sale in Central Park [video]

More proof of the irrationality of the art market and how artwork is priced. Reminds me of [1].

[1] http://blog.priceonomics.com/post/53857118493/is-wine-bullsh...

dbond on Oct 14, 2013 [–]

Its called positional good.

http://en.wikipedia.org/wiki/Positional_good

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