Post
by Darren » Fri Sep 16, 2011 12:36 pm
The sale price was $17500.00 but by the time the auction company took there slice it eneded up costing over $21,000.00 as per the article below. The news on the night only said the sale price and didn't include the fees and tax associated with the sale. I thought at the time that it was a fantastic way to make an instant 15% on your money. I know I would be straight down to the bank because there was nothing artistic about it as far as I was concerned.
SOME might call buying a $20,000 wad of cash for more than $21,000 a poor trade-off.
Artist Denis Beaubois didn't see it that way after his pile of cash, Currency, was auctioned last night.
The winning bid was just $17,500, and the final price of $21,350 included the buyer's premium and tax.
The controversial artwork -- two bundles of unused $100 notes -- was auctioned at Deutscher and Hackett in Prahran.
The work was funded with a $20,000 grant from the Australia Council and was divided into two lots of 100 uncirculated $100 banknotes.
Deutscher and Hackett had given it an estimate of $15,000-$25,000, with both extremes sending competing messages about the inflationary value of the work. The notes can still be used as legal tender, according to the artist.