To clarify, the photo above was part of a lot of 6 photos taken by the famous photographer Andreas Gursky. He’s known for taking pictures of repetitive units. Two weeks back the photo took part in one of Sotheby’s Auctions. They’re an auction house where millionaires come and bid for what artwork they want.
The lot of 6 which includes the photo above was sold for a whopping £662.500 (~KD 283,637). I too can take a photo of the Kuwait Stock Exchange and don’t charge that much. To my surprise the bid was reasonable, auctions normally go way higher. Picasso’s painting was sold for $104.2 million at Sotheby’s.
The photo was taken back in 2008, I’m assuming right before the financial crisis else that area would have been a ghost town. Sotheby’s Auction operates by registering potential bidders before auctions, bidders need to show proof of assets since artwork is normally sold by the millions. They charge a fee of 20% on the first $100,000 and 12% on the remaining amount.[Source]