The Art of Pricing
A young conceptual artist exhibited his newest work in a gallery: a piece of blank paper was taped to a canvas, with a tiny, perfectly painted black dot in its center.
A famous collector approached him and asked in surprise:
“Tell me, how much does this work cost?”
The artist replied, without blinking:
“One hundred thousand dollars.”
The collector was taken aback:
“A hundred thousand?! It’s just paper with a single little dot!”
The artist, adjusting his glasses with dignity, explained:
“The paper costs five dollars. The dot costs five hundred dollars. And ninety-nine thousand four hundred and ninety-five dollars is the cost of my decision of exactly where to put that dot.”
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