Word: auction
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...charms of the bourgeois life he thought he had rejected. "True student poverty," with its balancing of stipends, food stamps and unemployment benefits, he found difficult to take. "The only fight about money that Annette and I ever had was over a $6 pot she bought at an art auction." In addition, California life-styles in the early 1970s made Turow realize that he was more conventional than he had thought. "It was unbelievable," he remembers. "There was incessant drinking and substance abuse, and marriages were falling apart all over the place. Annette and I were newly married ((they made...
Were sales in which top bids were running 20% to 30% under the low estimates , to be called failures? Not really, sniffs Sotheby's U.S. chairman John Marion. As for charges that hype by the auction houses has undermined not only prices but the houses' own credibility as well, Marion says, "Anyone can say anything they like." But art dealers, who have lost much of their business to auctions in recent years, are not immune to schadenfreude. Lawrence Rubin, for instance, head of New York's M. Knoedler & Co. gallery, sees "a slump self- induced by the auction houses. Over...
...larger problem will not go away. As the auction analyst Souren Melikian recently wrote in the International Herald Tribune, "Market manipulation has now reached such proportions . . . that even the greenest newcomers are becoming aware that they are being taken for a ride." Since the main form of this manipulation has been the systematic inflation of estimates, it leaves the auctioneers with a problem not even Dr. Gachet could cure...
While a Japanese collector pays $82.5 million for a Van Gogh and $78.1 million for a Renoir, many lesser sales fall short as the frenzied auction boom hits some bumps...
...time when craft is flourishing, and when the Bauhaus' straight lines have been tied in postmodern knots, Tiffany's plummy palate, iridescent surfaces and flowing shapes are attracting record museum throngs and stratospheric auction prices. "Masterworks" was the most popular exhibit ever at the Smithsonian Institution's Renwick Gallery in Washington; some 225,000 people visited it during its five-month stay. At Christie's a pond- lily glass table lamp brought $550,000, a record auction price for a Tiffany work...