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Bachelors of Fine Art degree holder here,

Everything is made up and the example cited above is very close to the story of “For The Love of God” by Damien Hirst [0]

The sculpture is more of a pointer, or some direct object upon which could be acted the work of art which was the financing valuation and theoretical sale of the work

In most experiences, it starts with how anything is priced. How long did it take to make it and how much money did it take to do so. Plus some. And then what will someone pay for it.

But that’s just “most” and that never makes headlines or anecdotes

[0] https://en.m.wikipedia.org/wiki/For_the_Love_of_God



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