What makes art so expensive? | CNBC Explains?

Art can be really expensive because people think it’s super special and want to own a piece of something they believe is one-of-a-kind.

Imagine you have a favorite toy that only you have, everyone else wants it too. That's like what happens with art. Some artists make beautiful pictures or sculptures, and if lots of people love them, others are willing to pay a lot of money just to own one.

Sometimes, famous artists create work that’s not only beautiful but also hard to copy. Think of it like your favorite cookie recipe, if the artist is really good, their art becomes something people want to have, even if they can’t make it themselves.

Also, some art collectors buy art just to show off or invest in it, kind of like trading cards. If a famous person buys a piece, others might think it’s worth even more!

So, when you see an artist's work selling for millions, it's because people believe in its value, and sometimes they're just really excited about owning something extraordinary.