Public art

Once upon a time, government departments spent money on nice things such as artworks to decorate their offices, a frivolity which tends to be frowned on these days. Treasury, for instance, has bought art over its 176-year history, most of it in the 1980s and 1990s, and has not added to the collection since 2001. Somewhere along the way Treasury acquired an Andy Warhol print, while a Ralph Hotere lithograph, snapped up for $470, is now valued at $7000. In all, Treasury thinks it spent $97,275 on art over the years. The estimated value now is $186,580.