The record price paid for an oil-on-canvas painting is the rumored $250 million for Cézanne’s Card Players. Prior to yesterday, the record price for a pastel was Degas’ Dancer at Rest, auctioned for $37 million in 2008. That suggests that a great painting is worth about 6.8 times a comparably great pastel.
Had Munch painted an oil-on-canvas version of the The Scream, an auction house or dealer would arguably be justified in projecting a value of 6.8 times $119.9 million, or about $810 million, in today’s market.
Remember when you thought you wouldn’t be using any algebra when you got older?
That is close to a billion! Insane! Bet in 5 years it’ll be reached.