I'm really not interested in hijacking this thread, so if anyone would like to continue it after this response, feel free to PM me.
I like to speak in generalities, like to paint with a wide brush (haha!) and use a lot of indefinite pronouns. I don't feel like anything I said was way off-basis. If you guys go watch the 60 Minutes piece, you'll see it focuses on the multi-million dollar auctions and how those pieces are primarily bought for later profit.
The "unreasonably high" cutoff (which I never listed) is, in my opinion, larger than it has been, respective to wages. Maybe this is a naive assumption, but I'd have to see the relationship of prices of art versus the number of super-wealthy today compared to the 1800s.
As for my "Why is THIS piece $21 million" comment, I think you guys took that the wrong way. I know a bunch of artists who do really great work, and even some who paint abstracts that compare nicely to the Rothko, but they never received the same recognition. The point I was trying to make is that the artistic merit of the work is rarely the sole decider in determining its value.
On a different note, how does one determine the value of a poster that has never been sold on an online auction site?