But is it art?

This from London, according to ArtDaily: London’s White Cube gallery announced that British artist Damien Hirst's glittering skull sold for $100 million dollars, a record price for work sold by a living artist. The work is entitled "For the Love of God". According to the gallery a group of anonymous investors purchased the work.
The skull is made of platinum, encrusted with 8,601 diamonds. It cost $20 million to make the skull (diamonds and fabrication).