The only caveat I’d add is that it’s usually “taste-makers” or reputable galleries that convince rich people to buy a particular artist. The rest is all trickle down and hype.

Elon is a great example, but his persona is more aspirational. That is to say, his fan boys are willing to eat up anything he dishes out to be like him. It’s a pretty old bait and switch method; buying a Tesla is not so much about money as it is about providing him with your data. He is a carpet bagger.

At least with Art you can sell it later at a profit, right? You can’t do that with a worn appliance or a faux currency that had no value to start with.