I’d guess it's something way more primal
Pardon the proselytizing. So much criticism about runaway prices focuses, more often than not, on artists as commercial branding machines, and collectors as collective vanity writ large.
But I’d guess it's something way more primal. Whether Picasso backdating works to garner higher prices, and pitting dealers, wives and lovers against each other, or the self-replicating Hydra that is Hirst, it just boils down to run of the mill, conventional greed.
I’m not saying I’m immune, just saying a lot of (multi)million dollar art today may soon be as obsolete as Michael's cellphone.