Call me unsophisticated, but to me, art has to look good. Things like DaVinci's The Last Supper and the Mona Lisa, or Michaelangelo's Pieta or Sistine Chapel, are beautiful and have always been seen as such. Obviously, no one debates that these pieces qualify as art. Also, as someone said above, they required great skill to be made. I consider Kincade's pieces art because they are good-looking and because, like them or not, they did require some skill. On the other hand, we have modern "art" like that trash bag or that "painting" with the big colored blocks that a 5-year-old could have made with a set of finger paints. These should not be considered art; they have no aesthetic value, and they required little to no skill.
I disagree with Ford Prefect saying that art can only be considered as such in the artist's eyes. If that were true, every young child's crayon scribbles would be framed and in museums; to the child, it's art, right?

To me, art has to be declared as such by the general public, not by some "elite" art critic. I remember my high school history teacher telling about his visit to an art museum. The one hallway he was in had a ceiling that was painted blue. He thought nothing of it, until he saw a descriptive sign stating that the ceiling was a piece by some "artist." Give me a break; painting a ceiling blue does not make you skilled in art. I could do the same with a can of house paint and a roller. Personally, I think the ultimate test of skill of an artist should be the ability to paint things, such as portraits and landscapes, so realistically that you can't tell whether or not it's a painting. I'm not a big fan of abstract or impressionistic art, but I will say that it is art. Modern art, however, is trash, much like that bag

. I like to think of it as an "Emperor's new clothes" scenario: no one wants to seem "uncultured," so they keep calling this crap art.
P.S. Of course a smashed VHS tape would be art! Just put an unwoven cassette tape and a scratched CD next to it, and you're set. We can call it "A/V Nightmare"

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