The Crazy Value of a Painting


After seeing a Norman Rockwell painting sell for $46 million, this should not be a surprise.

Unlike the Rockwell painting, this piece actually depicts a property that is still standing. Did the owner pay this? Or did someone with a fondness for desolation and/or New Jersey pick it up? And did someone get involved in the bidding in order to inflate the price? You have to assume noble intent, but, wow. We're seeing a lot of money being paid for American art.