Even in tough times, contemporary art sells

I thought this was a great 60 minutes segment. It was interesting to see how much the consumers are willing to pay for some of the custom pieces displayed at these trade shows. We all have looked at a few Contemporary Art pieces and thought (with a raised eyebrow), "how on earth is this art"? I have come to realize through our Contemporary Art class, articles and clips like this, that if the artist and consumer believe it is art, it is. The artist is expressing themselves through their pieces and the consumers and/or loyal followers,  feel a divine connection to it in some way, shape or form. Whether they are true art collectors, speculators, or just trying to keep their status, they still made the choice to purchase the fine art, due to divine connection, in the mist of this financially strained economy.

This clip will show you how consumers have spent 5.2billon plus to purchase pieces in 2011 alone.  It also sheds light on who the actual consumer is and what consumers have been picked up along the way. Even though each piece is negotiated, the lowest starting price for some of the pieces featured are in the thousands or millions.