My First Million
01:08:34 · Bill Perkins, Sam Parr, Shaan Puri
[01:08:34] S0: Thought I I was gonna pay, like, 3 to $5,000,000. You know? [01:08:37] S2: And it was what? Fifth... You said 15? [01:08:39] S0: 15 at the end. [01:08:41] S1: Did you... Were you... At the end, were were you wobbled? Were you were you shook a [01:08:46] S0: little bit, or you [01:08:47] S1: were like, I'm going. [01:08:47] S0: Was in I in... My eyes were whitering. I was I was so happy. And I was just like [01:08:52] S2: Do you feel... What what what do you feel like? You feel like a historian or something? Like, you're like like you're the steward of history? Like, what what... Why would... Did this... Is this so important that you have?
01:09:01 · Bill Perkins
[01:09:01] S0: Yeah. I mean, like, the role of the collector is to signal to future generations what is worth preserving. So what you see in museums, etcetera, were were the commissions of wealthy people back in the day or things that they collected. You you you may not be seeing the best art. Actually, statistically speaking, you probably are not seeing the best art. Right? Like, some of it was probably burned or it was in people's houses or or whatever and didn't make it or or didn't show. What you're seeing is is what prior people had signaled to future generations what was worth preserving. And so given that context of this piece, and the historical context I gave you of like American art, particularly African American art, there was just an arbitrage going on because of the perception, right? There's a lot of people that are like, oh, black guys should own it. And I'm like, no. Black guys should own it. The world should own it. A Russian billionaire should own it. But we get to steal this because people have these kind of like, you know, historical racism in the art community where museums would not collect African American art, and they would not put it in or not have it, and then now kind of that makeup period, that kind of like social stigma of, you know, who should own this art, whatever. It's it's stuck in even the black community. I'm like, you guys are idiots. Like, it's creating an arbitrage between the valuable things that should be signaled and preserved for future generations and what the market is paying. So I was ecstatic. I felt like, you know, I arbitrage the market. I I I I, like, I had made it. I had finally made it that I can actually own this painting that I used to watch on TV all the time. So I was I was super happy.
01:10:42 · Sam Parr, Bill Perkins
[01:10:42] S2: That's so awesome. It's it's also awesome to... Like, I think it's cool to be, like, this kinda like madman and also, like, be into some of the other shit. It's like this... It's a very eclectic person. Did you guys see that story about Sylvester Stallone? Apparently in the eighties, he'd bought this Monet. I think it was called Haystacks. I think he bought it for a $110,000 in the nineteen eighties. Years later, he had some bills to pay or something like that, and he sold it for 3,000,000. And then like five or ten years later, that same painting sold for $130,000,000 [01:11:15] S0: Yeah. [01:11:16] S2: Yeah. And he was telling the story and he was like, I was so foolish to sell. He's like, because art, it doesn't require upkeep. Like, don't have to like move it or fix it or repair it. He's like, I was foolish. Why did I why did I sell this? And it was a really cool story to see. But but also it's like Sylvester Stallone, you know, he's supposed to be this like guy's guy. Yet he writes this badass movie by himself. So he's clearly has an artistic side and he spots a Monet before the world does, and it's just kind of cool to see like an eclectic human being.
01:11:16 · Sam Parr, Bill Perkins
[01:11:16] S2: Yeah. And he was telling the story and he was like, I was so foolish to sell. He's like, because art, it doesn't require upkeep. Like, don't have to like move it or fix it or repair it. He's like, I was foolish. Why did I why did I sell this? And it was a really cool story to see. But but also it's like Sylvester Stallone, you know, he's supposed to be this like guy's guy. Yet he writes this badass movie by himself. So he's clearly has an artistic side and he spots a Monet before the world does, and it's just kind of cool to see like an eclectic human being. [01:11:43] S0: Oh, you should watch the... There's an interview with him about Rocky and the characters and him writing the characters. He is an artist. He wrote that, and it's like, when he talks about the development of the characters and what it's about, it's it's it's an amazing thing. Like, the sequel's all about the boxing and the clever lang or whatever, but, like... And he he became an action star, but, like, he's an artist. Like, people are multifaceted. So you look at the highlight of my life on Instagram, or you look at whatever, and you might have an idea or a good view into certain facets of people's lives. But everybody's a multi cut diamond, and some of those facets that you don't see are actually a bigger part of their lives.
01:11:43 · Bill Perkins, Shaan Puri
[01:11:43] S0: Oh, you should watch the... There's an interview with him about Rocky and the characters and him writing the characters. He is an artist. He wrote that, and it's like, when he talks about the development of the characters and what it's about, it's it's it's an amazing thing. Like, the sequel's all about the boxing and the clever lang or whatever, but, like... And he he became an action star, but, like, he's an artist. Like, people are multifaceted. So you look at the highlight of my life on Instagram, or you look at whatever, and you might have an idea or a good view into certain facets of people's lives. But everybody's a multi cut diamond, and some of those facets that you don't see are actually a bigger part of their lives. [01:12:26] S1: In a strange way, by having that bidding war, telling this story, buying it at the price you did, you increased the value of the art. Right? So it's like... It's kind of reflexive in that way where the art actually increases in value because you paid more and because of the way it went down in in a strange way.
01:12:26 · Shaan Puri, Bill Perkins, Sam Parr
[01:12:26] S1: In a strange way, by having that bidding war, telling this story, buying it at the price you did, you increased the value of the art. Right? So it's like... It's kind of reflexive in that way where the art actually increases in value because you paid more and because of the way it went down in in a strange way. [01:12:46] S0: Yeah. I I mean, I signaled to the market Barnes' works are important, at least his a grade works. Right? Like, every Arctic has their a work, their b work, their c work, their d work, and, you know, etcetera. And so the market got a signal, and there was another piece at auction that I wanted to buy, and then I couldn't afford it because, that was a piece that had I bought that first, I probably would have bought it for a couple $100. Went for like 2,000,000 to some Asian buyers or something like that, And this was the day auction, right? This is the cheaper stuff, right? And so I completely reset the Barnes market, you know, and it wasn't me, it's just the market became aware, right? Like, you know, when people like, well, why did you pay this much and why is this significant? You know, I had like three, you know, Artnet interviews, and Wall Street Journal interviews, and I went over the thesis, and everybody's like, you're absolutely right. [01:13:39] S2: There's this photo of you like holding up your arms. [01:13:41] S0: Yeah. [01:13:41] S2: It's a great photo.