Tuesday, July 31, 2012

The value of Rauschenberg's Canyon

The linked article is one of the most bizarre art stories I have read so far. It deals with the value of a piece that can never be sold - because Rauschenberg's sculptural combine Canyon (image from Wikipedia, public domain) contains a stuffed bald eagle, a bird under federal protection. The discussion started when the owner died and her inheritance had to be valued. Zero was the not unreasonable choice by the heirs, given that it can't be sold anyway. The US tax office decided otherwise and is charging the heirs a sum corresponding to an estimated value of 65 million dollars... Read the full story on the New York Times site.

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