[TimothyFarrar]

From the perspective of someone who is tring to make a living on art (photography), people purchase art because of the way it makes them feel, and it is all about presentation. Sure some modern art might look like crap say if you saw it in laying alone in an alley somewhere, but when you place a 1M price tag on it in a high end gallery with the previous history that the artist has sold other works of "high value" then it turns to gold. Expensive art is an investment (and perhaps just purchased with disposable income).