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Richard Serra’s new sculpture, “East-West/West-East,” is a set of four standing steel plates rolled in Germany, shipped via Antwerp, and offloaded, trucked, and craned into place in the middle of the western Qatari desert. It’s his second public commission in Qatar—the first, a towering sculpture titled “7,” is his tallest ever—and it is being unveiled, together with a new work, at the Al Riwaq exhibition space, in Doha. “East-West/West-East,” which spans the greatest area of any of Serra’s creations, is yet another grand piece of public art purchased by the Gulf nation. The Qatar Museums Authority is estimated to spend about a billion dollars per year on art. At its head is the young Sheikha al-Mayassa Hamad bin Khalifa al-Thani, a sister of the Emir of Qatar and a Duke University graduate, who was recently named the most powerful person in the art world by ArtReview.

The most interesting aspect of the hundred-million-dollar Giacometti is that it isn’t unique. “Chariot” comes from an edition of six—each of which, we can now assume, is worth roughly the same amount.

It’s entirely rational to think that value goes down as edition size goes up—that if a sculpture is in an edition of six, then it will be worth less than if it were unique or in an edition of two. But the art market is weird, and doesn’t work like that—or, at least, it doesn’t work like that anymore, since it has become an extension of the luxury-goods market. In order for an artist to have value as a brand, he has to have a certain level of recognizability—and for that he needs a critical mass of work. Artists with low levels of output (Morandi, say) generally sell for lower prices than artists with high levels of output—the prime example being Andy Warhol. The more squeegee paintings that Gerhard Richter makes, the more they’re worth. In the case of “Chariot,” the other versions of the sculpture don’t dilute the value of the art so much as ratify it.

Did you always want to be an artist? No. I decided to become an artist in the late 1970s to try to escape the totalitarian conditions in China. Everybody wants to be part of the big power, so there are lies and false accusations everywhere. For me, art is an escape from this system.

Mr. Ai is a complex, troublesome figure: an artistic provocateur who works in several mediums, an activist and thorn in the side of the Chinese powers that be and an impresario able to marshal scores of variously adept Chinese artisans to make ambitious pieces that he barely touches. He’s also a designer and part-time architect who collaborated with the Swiss architects Herzog & de Meuron on the emblematic “Bird’s Nest” National Stadium in Beijing for the 2008 Olympics. And he was the darling of the Chinese power structure, until he began jumping in where he wasn’t invited.