$20,000 CASH ARTWORK SELLS FOR $21,350

AS an investment, cash is considered a conservative bet. Tonight in Melbourne, a confident buyer took a punt that sometimes, in certain company, cash is worth more as art than money in the bank.

As the opening lot of the Deutscher and Hackett auction, a single wad of $20,000 cash - an artwork called Currency - was sold for $17,500. When the 22 per cent buyer's premium is added, the total cost comes to $21,350.

The work - by Sydney artist Denis Beaubois, and brought to life with a $20,000 grant from the Australia Council - was divided into two lots of 100 uncirculated $100 banknotes.

Deutscher and Hackett had given it an estimate of $15,000-$25,000, with both extremes sending competing messages about the inflationary value of the work. The notes can still be used as legal tender, according to the artist.

Beaubois said after the sale tonight that he had no idea what to expect with the auction.

"I thought there was a strong chance it would go for below [$20,000] because there's a lot of suspicion with the work, but it's also interesting it went for above the financial worth," he said.

According to the auction notes, the piece is a conceptual artwork that "explores the tension between the economic value of the material against the cultural value of the art object".

In other words, whether banknotes are worth more as cash or art.

To read the complete article, see: $20,000 cash artwork sells for $21,350 (www.theaustralian.com.au/news/arts/cash-artwork
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Wayne Homren, Editor

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