The buyers, Billy and Beatrice Cox acknowledged the absurdity, but supported the impact the taped banana had on conversations about art. As a marketer, I am in awe of the process by which Cattelan turned a perfectly ordinary banana, into a cash cow.
Marketing alchemy at work.
A competitive artist at the exhibition ensured the banana would not go off, by eating it. An act of sabotage, or extension of the publicity the ‘thingo’ (I have difficulty calling it art, or even exhibit) generated.
Nevertheless, it is a massive demonstration of the contextual impact on the perceived value of an object.
You can buy an Eric Clapton signature Stratocaster for a couple of grand, new, or had you been at Christies in New York on June 24, 2004, you would have seen Eric’s Stratocaster (nicknamed ‘Blackie) that was the mainstay of his playing during the heydays of ‘Cream’, sold for $959,500. Better value than a banana, at least you could have resold it, rather than have some goose run up and eat it.
All this proves, once again, that utility has little to do with value.
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