How is "Good" Art Determined?

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A 3 page essay that discusses this question. Art commentator Martine MacDonald describes what bidding at Sotheby's on expensive art works is like and how in May in 2004, a painting by Pablo Picasso, his 1905 work "Garcon a la Pipe" (Boy with a Pipe) sold to a private bidder for the incredible amount of $104 million (MacDonald). This astonishing amount brings up the question of what factors contributed to this astonishingly high figure. Was it Picasso's skill? The answer to this question is "yes," but only to a certain extent, as another factor is the scarcity of an artist's work. Bibliography lists 2 sources.