Honestly, I myself get confused when I see people who are an average human being create a sketch or doodle, die, and have their work suddenly worth millions because of it's back story. I have a background in fine art, and have had my work in galleries. My husband and I frequently attend art sermons, art fairs, museums, and galleries, and quite enjoy seeing others (sometimes strange and unappealing but nonetheless interesting) work.
One gallery in downtown LA had many student/young/learning artists but also a fair amount of work that had been produced in the 1800's by unskilled average citizens whose collectors were claiming to be art. One person's work in particular stood out to us based on the fact that the "artist" was in fact, not an artist. He was an average man of basic undeveloped skill who had a difficult life as a slave on a plantation. Because of his backstory, his stick figures of animals on newsprint suddenly became the cat's meow when he passed away. And on the other hand you have aspiring artists who also were slaves that were completely drowned out from this fame, and never received anything for their talent. Why does this happen? I am not sure even art historians and scholars know.
And yes, I wholly believe that many "art" collectors and those with serious money collect art to brag about it's price, fame, and may eventually sell it once it appreciates in value. Because art has no tactical value, only value that which is placed in it. Because of my love of "use" and tactical value, I have been slowly moving from fine art to functional crafts (although I still do quite love to paint and draw and the like)
@Sputty Those are wonderful articles, I especially enjoyed the first one.
If you can plough through this little article here...