So the auction closed at $400 million but they are saying it sold for $450 million? Is that increase because of tax/auction fees paid by the buyer?
Reading wikipedia, there isnt even complete proof this was drawn by Leonardo da Vinci. "Salvator Mundi is a painting of Christ as Salvator Mundi (Savior of the World), which has been attributed by most scholars as a work by Leonardo da Vinci since its rediscovery in 2005" There are also some who question the attribution, and point out certain aspects of the painting.[23][24] For example, Michael Daley, the director of ArtWatchUK, raised doubts on the authenticity of the painting. He noted that there is practically no evidence that proves that Leonardo was ever involved in painting a Salvator Mundi subject; thus disputing the important argument in favor of attributing the painting to Leonardo, namely that the painting contains pentimenti and for that reason has to be attributed to Leonardo himself. Jacques Franck, a Paris-based art historian and Leonardo specialist, who reviewed the piece out of the frame multiple times, stated: "The composition doesn't come from Leonardo, he preferred twisted movement. It's a good studio work with a little Leonardo at best."
Paintings are horrible investments -- good luck trying to sell that piece, when the inevitable time comes. Art is the prime definition of illiquid. An annual return of 1.9% a year since 1519...I can make that % in a week, even less. The whole so-called rare art and auto auction world is a farce...faux desire and demand. Everything is a perceived illusion satisfying weird wants that are temporary and made up. People/buyers like the prestige, rarity and high price tag to Know about, and brag about. Kind of like women (and men) with diamonds. If the price of all of these things dropped by 90% tomorrow, and much more of them were available...people wouldn't fancy those exact things anymore that they so-called love so much before.
http://my.xfinity.com/video/rare-leonardo-masterpiece-sells-for-record-450m/1097259587939/Comcast/TopVideos?cid=sf_vidtray_painting&tab=Must Watch this painting sold for $10k in 2005, now $450M....
If you read the article, it says the mona lisa was purchased for 4000 gold ducats in 1519 and they are saying if the mona lisa sold at that same price, it would be a 1.9% return. This painting was purchased for $125 in 1958, so that's like just over a 29% annual return. A bit better than buffet.