A totally subjective opinion IMHO. I don't like the purple glass knick-knack at any price either but you see, one man's meat is another man's emetic.
I'll be the first to admit every opinion on this site is subjective, especially mine. Even the frickin' Supremes are pretty far from objective these days. Probably never were. I'm talking about the Court, not the pop group. lol
One factor not mentioned on this page so far is that these acquisitions are not just the whims of starry-eyed art lovers (or art worshippers). They're also investments. A one-percenter would be a fool to park his lucre in a work with any likelihood of depreciating in value. That's the big diff I see tween the Koons and the Murakami. If the latter rises any higher in value, I would be surprised. But I could be wrong. Whatever fool bought it probably won't miss his $15 mil even slightly. Boo hoo. If he was dumb enuff to buy trash in the first place, who cares?
I don't see the Koons as a mere knickknack. Too well-crafted for that. On the other hand, I do see it as way overpriced. But then most of the offerings at Christie's and Sotheby's usually are. If you can find a safe place to store such a work, then it's a relatively safe place to park money you don't want to see pissed away by destabilizing governments.
That being said, I'm all for taxing the 1% at much higher rates. even though they'll squawk about how much they're already paying. I don't care how "oppressed" they think they are.
What's the latest economic atrocity I read about? Something like 85 of the world's richest people own more wealth than the bottom half of the world's population combined? That's almost 3.5 billion people. Let them eat
shots?