ALEX SCHAEFER – Chase bank, painting en plein air, and the LAPD

[jose v]

THEN THEY ARRIVED:

I think this painting is really touching a nerve so I’m putting it up for auction. It’s getting a lot of publicity which I’m very excited about! It started out as a simple urban landscape painting for a series of artworks depicting banks on fire. But then after a few hours the police arrived and took my information inquiring as to whether I was a terrorist.

Here’s how I’m pricing the piece: In 1873 one French franc equalled .290322581 g grams of gold. Legend has it that Vincent Van Gogh sold one painting in his lifetime, the Red Vineyard at Arles, for 400 francs, which would have equalled 116.129 grams of gold, or 4.1 ounces of gold. Today an ounce of gold costs $1835, so 4.1 ounces of gold is $7523.50. Not a bad price adjusted for inflation and given the amount of money his work auctions for nowadays quite a steal! I’m going to auction this painting on e-bay, it’s just “too hot” not to! I’ve been getting offers and I think this is the most democratic and frankly interesting way to monetize this artwork. I’m going to float this painting on the open market and engage in a little real-world price discovery. And I’m going to be setting the auction starting bid at the cost of just a half an ounce of gold in today’s prices, or $920.

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