Word: ares
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Dates: during 1980-1989
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Q. You are a lifelong socialist. Yet now you are relying on market mechanisms, privatization, letting prices and interest rates find their own levels. It looks like an economic philosophy closer to Ronald Reagan's and Margaret Thatcher's. What's socialist about it?
A. I think so. That tremendous social explosion came about because of the dammed-up frustration of the past eight years, the decline in living standards. Now, this year, in Venezuela we're going to have a dramatic drop, almost 10%, in our gross national product as a result of...
There are, according to Sotheby's CEO Michael Ainslie, about 500 people alive today who might fork out more than $25 million for a work of art. Au Lapin Agile could go, said rumor, to $60 million. But in the end, publishing magnate Walter Annenberg bought it for $40.7 million...
Every game has winners and losers. The winners of this one are some collectors, some dealers and, in particular, the major auctioneers -- Christie's and Sotheby's -- in whose salesrooms the prices are set. The losers are museums and, through museums, the public.
From the point of view of American museums, the art-market boom is an unmitigated disaster. These institutions voice a litany of complaints, a wrenching sense of disfranchisement and weakness, as their once adequate annual buying budgets of $2 million to $5 million are turned to chicken feed by art...