Some people have more money then they will ever have use for. When you sell to that market, price is no object. In fact, a low price may be a deterrent.
What makes Cezanne's The Card Players worth $273 million dollars? Because the buyer could afford it more then anything else.
If the right gallery owners, picked a photograph from FAA through a blind draw, he could probably sell it for $40,000.
The thing is, there is no real market in art because there is no hard value. The is no ready market for it. Not like silver, gold or diamonds or stocks.
The market on art is what ever, like mentioned above, what ever the market will bare.
But can you sell that $40,000 photo any day of the week if you wanted to sell it and get your $40,000 back? Not likely because there is no market maker in art like there is in gold, silver, diamonds or stocks.