I can imagine someone paying $70 million dollars for something of that value, but scribbles on a chalkboard? I admit that there's a lot I don't understand about art, but this seems beyond reason. In fact, this "painting" looks suspiciously like something that I created circa 1950 in a rural one room school in S.W. Missouri; for which, incidentally, I was admonished by the teacher and required to erase it with all deliberate speed.
Cy Twombly canvas from Sydney and Audrey Irmas auctions for $70.5 million - LA Times