Yesterday Claude Monet’s famed 1890 painting, “Haystacks”, sold for $110 million—a record for the impressionist— “to an unidentified woman who had to raise her paddle aloft to be spotted from the second-to-last row of Sotheby’s in New York,” writes Kelly Crow in The WSJ.
To Your Survival Guy’s trained eye (ha!), I like the yellow and pink, and not to be rude, but the whole thing’s a little blurry. Just saying. As I was walking the grounds of his beautiful home and gardens in Giverny, France, it’s easy to feel as if one could find the inspiration to paint something as exquisite.
But $110 million? That’s 44 times the price it fetched—$2.5 million—when it was last auctioned in 1986 explains Crow. Haystacks’ sale was the first to cross $100 million—another record for any impressionist work of art.
This is what happens when the Fed turns your dollars into mini-dollars.
In another example, take a look at the S&P/Case-Shiller 20-City Composite Home Price Index and draw your own conclusions about mini-dollars looking for a place to hide.
Originally posted on Your Survival Guy.
A visit to Claude Monet’s garden at Giverny
Read part II here.