In my youth I would have chosen option 1. Now that I’m way the hell into middle age, I think I’d rather have the money. There’s plenty of good art in the world, but nowhere near enough in my retirement kitty.
If I live to be 80, I’ll probably go back to option 1.
Parenthetically, there’s always a chance someone will take my piece of crap and turn it into something really good. I’m thinking along the lines of “Jaws” here.