Series 9

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Series 9

Editor: Troy LennonWriter: Chris Hook and Alex LalakGraphics: Paul Leigh and Will Pearce

Money as museArtists are as vulnerable to the glamorous lure of money as anyone, and it has frequently inspired works of art in a variety of mediums.

American pop artist Andy Warhol, who was famous for his repetitive screen printing images, had an enormous respect for money as subject matter and he made dozens of sketches of the American dollar bill.

there are many plays, operas, ballets, musical, films and pop songs that have been inspired by the power of money.

Manon Lescaut, which began as a short story by Abbe Prevost and was later turned into an opera and a ballet, tells the tragic story of an innocent young girl who abandons the man she loves because she is seduced by the prospect of being rich yet she ends up dying

penniless in the arms of her lover.the musical Cabaret, which was made into a film in 1972

starring Liza Minnelli, is another

example of a stage work that was heavily influenced by the idea of cash and it contains the song Money which opens with the famous line “Money makes the world go around”.

swedish pop group ABBA recorded the song Money, Money, Money in 1976, three years after English rock band Pink Floyd recorded the song Money, which followed on from the Beatles’ 1959 hit Money, which contained the line “Give me money (that’s what i want)”.

No.5, 1948, Jackson Pollock, sold in 2006 for $168.3m ($US140m). Now worth $181.5m ($US149.6m)

Woman III, 1953, Willem de Kooning, sold in 2006 for $165.3m ($US137.5m). Now worth $178.3m ($US147.0m)

Portrait Of Adele Bloch-Bauer I, 1907, Gustav Klimt, sold in 2006 for $162.2m ($US135m). Now worth $175.1m ($US144.4m)

Portrait Of Dr Gachet, 1890, Vincent van Gogh, sold in 1990 for $99.1m ($US82.5m). Now worth $164.9m ($US136.1m)

Bal Du Moulin De La Galette, 1876, Pierre-Auguste Renoir, sold in 1990 for $93.9m ($US78.1m). Now worth $156.0m ($US128.8m)

Garcon A La Pipe, 1905, Pablo Picasso, sold in 2004 for $150.8m ($US104.2m). Now worth $144.0m ($US118.9m)

Irises, 1889, Vincent van Gogh, sold in 1987 for $US53.9m. Now worth $123.9m ($US102.3m)

Dora Maar Au Chat, 1941, Pablo Picasso, sold in 2006 for $74m ($US95.2m). Now worth $123.3m ($US101.8m)

Portrait Of Joseph Roulin, 1889, Vincent van Gogh, sold in 1989 for $US58m. Now worth $122.2m ($US100.8m)

Portrait De L’artiste Sans Barbe, 1889, Vincent van Gogh, sold in 1998 for $121.5m ($US71.5m). Now worth $114.7m ($US94.6m)

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Money is at the core of our day-to-day lives, whether we like it or not. It is the means by which we obtain basic needs such as food and shelter. Lots of it can make us powerful, while having very little can leave us weak and dependent. Money is even central to the arts world as a source of inspiration, motivation, the reward for being an artist.

Find out moreSources and further study: Arts NsW www.arts.nsw.gov.auAustralia Council http://www.australiacouncil.gov.au/BBC World www.bbc.co.ukEncyclopaedia Britannica britannica.com

Did you know?n ALthouGh Vincent van Gogh is commonly believed to have cut off his own ear in a fit of madness, this is now thought to be a story put about by van Gogh to keep his friend Paul Gauguin out of trouble. the pair had a falling out while living together in 1888 and it is now believed that Gauguin cut off van Gogh’s ear with a sword.

n Despite the fact that Michelangelo is believed to have accumulated a $60 million fortune, he often claimed to be poor in poetry. he also seemed to

resent being dependent on commissions from a wealthy church for his work.

n the work of salvador Dali was already worth so much in his own lifetime that some people have alleged that when he was an old man, Dali was forced to sign blank canvasses. these were then used by forgers after his death. these days, art dealers are very wary of any works claimed to be produced late in Dali’s career.

The art of making moneyMANy artists throughout history have had very successful and lucrative careers.

one of the most famous artists of all is Michelangelo di Lodovico Buonarroti simoni, or Michelangelo, who did very well during his life. Born in 1475, he served several artistic apprenticeships in his home city of Florence, italy. he then left the city and began to enjoy the patronage of many wealthy families, and was commissioned to complete a range of works, including the ceiling of the sistine Chapel in the Vatican.

in 2002, rab hatfield, a professor of art history at syracuse university in the us, estimated that Michelangelo accumulated a fortune worth some $60 million in today’s money.

More recently, the famous spanish surrealist painter salvador Dali became rich and famous during his lifetime (1904-1989). he was even accused by fellow artist Andre Breton of being obsessed with money and fame. Breton coined the nickname “Avida Dollars”, which means “eager for dollars”, and is an anagram of salvador Dali. Despite all his efforts over his lifetime, Dali is believed to have been defrauded out of much of his wealth.

Another artist of the 20th century to have done very well during his lifetime was Pablo Picasso. At the time of his death in 1973, his personal fortune was believed to be about $60 million — not bad for a lifelong communist.

some Australian artists have done well during their lifetimes too. Pro hart earned enough to make a hobby of collecting rolls royce cars and Picasso and rembrandt paintings, while Brett Whiteley also sold successfully during his lifetime. Ken Done has made tens of millions over the years from his painting and business interests.

Rich with meaning: A detail from Michelangelo’s Sistine Chapel

Alleged forgeries: Salvador Dali

Popular paintingsthEy might only be made from canvas and paint, but some artworks have the power to make people go weak at the knees and open their wallets wide.

this is a list of the paintings that have sold for the largest amount of money. Notice there are four paintings by Vincent van Gogh in the top 10, and the most recent painting in the group was completed in 1953.

Making a splash: A VW Beetle painted by Broken Hill-based artist Pro Hart

Flowering talent: Vincent van Gogh’s Irises (formerly owned by Australian Alan Bond) at the Getty Centre in Los Angeles

Poor manALthouGh their work may be sold for millions after their deaths, many of history’s acclaimed and accomplished artists lived and died in poverty.

VInCEnT VAn GoGh: the Dutchman began painting in 1880, at the age of 27. in 1888 he had a breakdown and spent long periods in hospital battling psychiatric problems, depending on his

brother for financial support. he shot himself and died in 1891. Van Gogh only sold one painting while he was alive.

PAUL GAUGUIn: Born in 1848, Gauguin spent his early adult life in the French merchant navy. he began to paint during the 1870s, while working as a stockbroker. A French stockmarket crash in 1882 caused him to lose his job

and although he was becoming an accomplished painter, he struggled financially. By the late 1890s he was living in a hut in tahiti where he died broke and alone in 1903.

CARAVAGGIo (real name Michelangelo Merisi): the italian master was orphaned at the age of 11, was apprenticed to a painter and left for rome by himself at the age of 21 in 1592. For years he struggled, before

he began to enjoy patronage from senior figures in the church. in 1606 he killed a man over a tennis match dispute and spent the next few

years impoverished and on the run, eventually dying of pneumonia in 1610.

JohAnnES VERMEER: the 17th- century Dutch painter also struggled. he inherited an art dealership and inn from his father, but focused his attentions on his

own work. When the French invaded the Netherlands in 1672, economic conditions deteriorated meaning he was unable to sell paintings, either his own or those of other artists. Vermeer died in 1675, leaving his wife and 11 children with enormous debts.

REMbRAnDT VAn RIJn: referred to as rembrandt. Another 17th-century Dutch painter who struggled. he was popular during the early part of

his career and sold his work without too much trouble. however, changing fashions meant that rembrandt did not do so well later in his career. in 1658, he was forced to sell his house and live with his son and his

son’s girlfriend. he battled to keep the creditors at bay until his death in 1669.

Supporting the artsiN AustrALiA the government will often help artists of all kinds in the form of grants from the federally funded Australia Council for the Arts or, in NsW, the state-funded body Arts NsW.

Another important source of funding for the arts is from individuals. Many wealthy individuals give large amounts of money to help various arts companies, museums and galleries.

But not just wealthy individuals. ordinary people will often donate whatever they can afford to help particular projects. For example, the Art Gallery of NsW spent $16 million on Paul Cezanne’s landscape Bords De La Marne last september. to meet the cost, the Gallery received donations ranging in size from $1 million to as little as $50, all of which helped.

But corporate sponsorship is also valuable to arts organisations. Prominent corporate sponsorship includes sony’s sponsorship of the sydney opera house, Audi’s sponsorship of the sydney theatre Company and optus’s sponsorship of the Belvoir st theatre.

Arts companies also build up endowment funds through bequests left in people’s wills. these are managed and invested on the company’s behalf by a board of trustees.

MoNEy is so fundamental to human existence that themes surrounding its accumulation — or the lack of it — are revisited time and again in literature.

Charles Dickens, for example, dealt with the effects of poverty in novels such as Oliver Twist and Hard Times, while his work A Christmas Carol warned against accumulating and saving money for its own sake, with the character scrooge’s name now a byword for meanness.

in more recent times, stories of the rich and powerful dominate popular literature, often making

their authors very rich. For example, Mario Puzo’s The Godfather was a huge success and finally allowed Puzo to make money – a great deal of money – from his writing.

the book and its sequels – and the movie adaptations – dealt with italian Americans becoming very wealthy through organised crime.

Puzo had been working as a public servant and had five children before he wrote the book and so had been struggling financially. he was determined to write a bestseller to get his family out of their relatively poor financial situation.

Paramount Pictures bought the film rights to the book for $us80,000 (quite a sum of money 40 years ago) three months before it was published in 1969. Puzo wrote the script for the movie, which along with its sequels and the book, was a huge hit.

Needed support: Vincent van Gogh

Broke: Paul Gauguin self-portrait

Gambling his life away: Caravaggio’s Cheats

Left enormous debts: Vermeer’s View Of Delft

Forced to live with son: Rembrandt

Rich manit is believed that the richest artist ever is one from our own era. he is a 44-year-old British artist called Damien hirst. Last year his manager Frank Dunphy claimed hirst had a billion-dollar fortune. it was definitely a good year for hirst. in october 2008, despite the global financial crisis biting across the world, especially in Britain and the us, a two-day auction of hirst’s work at sotheby’s in London raised $215 million for the artist.

the most expensive work was The Golden Calf, which sold for more than $20 million.

the revenue was more than 10 times that of the previous record for an auction devoted to the work of a single artist. that was a 1993 auction of 88 pieces by Pablo Picasso, by sotheby’s in New york, which raised a relatively humble $22 million.

Richest in history: British artist Damien Hirst stands in front of his most valuable work called The Golden Calf

Music and moneyMusiCiANs own the rights to all their previous recordings, and put together these become known as a back catalogue. For some artists who have had long and successful careers, such as the rolling stones, AC/DC, Pink Floyd and Bob Dylan, back catalogues can be an ongoing source of revenue because people keep buying their music, playing it on radio and using it in films and advertisement and so on decades after it was recorded.

sometimes these rights can be sold. For example, the rights to the Beatles’ back catalogue were bought by Michael Jackson in 1985. And in 1997, David Bowie actually sold his own “bonds” or shares in his back catalogue meaning that royalties would then be shared among those who owned the bonds rather than simply be received by Bowie himself. he made $83 million out of the deal.

Top hits: Publicity poster for the Swedish pop group ABBA

Write of wayHaves and have-nots: Scrooge from Charles Dickens’ tale A Christmas Carol

Revenue source: Singer Michael Jackson bought The Beatles back catalogue

That’s what I want: An onlooker admires Dollar Sign, 1981 by Andy Warhol

Family counts: Marlon Brando in the film adaptation of The Godfather

Respect for money: A self-portrait by Andy Warhol

Poles apart: No. 5, 1948, by abstract expressionist artist Jackson Pollock

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