I tend to think that the highly priced photography being bought isn't really being bought as 'art' at all, but as a sort of mutually accepted form of 'value' to replace the doubtful monetary markers that were valid until around '08; mutually accepted, of course, amongst those with the billions to protect.
Looking around me right now, I wonder how at ease I'd feel were I to win many millions on the lottery... here, within the Euro Zone? It could possibly be as frightening an experience as exhilarating.
Such 'art' was never intended for mere mortals; maybe we should just smile and forget it; better still, provide it!
Rob C