So, they just auctioned off that painting-"The Scream" for 120 million. Other than the obvious comment that some folks have too much money the question to ponder is what makes something worth it's cost? Does it have to have some kind of intrinsic value or can some market just set the value. If you buy the Hope Diamond the value will never decrease because of its rarity but if they discover 3 more of these paintings besides the other two what happens to the value? Does the fact people are willing to pay mean it's worth the price? What happens if the market values something for X amount but no one is willing to pay it?

This not only applies to this particular painting but really anything else from an expensive watch to a fancy automobile to a house or bottle of wine or of course a razor.