Word: auction
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Dates: during 2000-2009
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...portfolios of wealthy Western investors who are cutting back on their lavish purchases, including spending on vintage wine. Not so for Chinese investors. China's economy has suffered less and bounced back faster from the financial crisis than the economies of the U.S and U.K. At the Sotheby's auction, a six-Liter bottle of 1982 Chateau Petrus Imperial - described as having a sweet leather taste and a pruney finish - was gaveled off to a mainland Chinese bidder for a record $93,000. "The balance of power in the wine world is now shifting from West to East," explains Gregory...
...ever-higher sums. Each of the 34 lithographic prints of the female nude Agus has produced, for example, is expected to fetch roughly $7,000 while bigger works will go for roughly $14,000. That's modest by the standards of the art market, where an Agus painting at auction can fetch over $100,000. Nonetheless this is far more than Asians have spent on prints in the past, and that's because the perception of printmaking is finally changing. Somewhere, far above the college dorms and dentists' waiting rooms, another realm of printmaking is taking shape...
...repurposing doesn't stop there. Across the country, property owners and managers are trying out new uses for empty stores. Spaces that used to house Radio Shacks and Linens 'N Things now serve as libraries, auction houses, TV studios, even block-long billboards to advertise other stores and brands...
...owns nearly 700 retail properties across the country. He and his 15-person team are charged with finding non-traditional uses for available spaces at a time when some 9% of the firm's units sit idle. Among the temporary uses they've landed on: health clinic, campaign office, auction house, county library, swap meet and soundstage for a car-commercial shoot. "It doesn't make up for the rents those retailers were paying, but it definitely provides revenue that we wouldn't otherwise have," says Feldman. "Even if it's just for a day or a week, it goes...
When Zennstrom, 43, heard earlier this year that eBay wanted to divest itself of Skype, which had not created the kind of synergies the online auction house had hoped for, he approached eBay proposing to buy back the webphone company at a substantial discount. The Swede also made overtures to private-equity players in an effort to structure a deal. However, both eBay and private equity gave Zennstrom the brush. (Read "eBay Bids for Revitalization...