The Most Expensive Photo Ever
The title of the most expensive photo ever is a dubious one. This list provides the reader with the most expensive photos ever bought, not the most expensive photo ever taken.
That latter honor probably belonged to the photo above, where the entire 12,000-strong workforce of Ford Motor plant at Highland Park where photographed in 1913 when the world’s first fully-fledged assembly line was installed at the plant.
Fittingly for a company whose axiom was “Time equals money”, the photo cost thousands of dollars. In 1913, Ford paid $2.34 a day — minimum wage then was $1 — and employed them for nine-hour working day. (The next year, he doubled the pay to $5 a day and reduced the daily work hours to eight). Assuming a working day lost because of the photo, Ford paid out $28,080 daily wages – almost equal to amount of seed money he had to found the company in 1903. To add to that, Ford lost out on making 600 cars (in 1913, Ford produced 250,000 cars annually), each of which cost $600. In total, the cost of the photo was over $9 million in 2013 dollars.
Ford himself was a grumpy, tyrannical figure. His employees were subjected to a Sociological Department, which forced them to change their hygiene, consumption, sexual, and social habits to fit in with Ford’s puritanical and health-obsessed worldview. His wage increases – today portrayed as a revolutionary act of magnanimity – was spurred by high employee turnover (370% in 1913) caused by these restrictions. Ford drove away two talented executives, Knudsen and Couzens; William Knudsen went on to turn around money-losing Chevrolet into an auto powerhouse.
When he died in 1946, Ford left behind a fortune of $ 188.1 billion (in 2008 dollars), which made him top five richest industrialists ever. When his company finally IPO’d in 1956, the company had the market capitalization of $3.2 billion (real US GDP that year was $460 billion) and its initial offering was so large that over two hundred Wall Street firms had to subscribe to it.