Word: auctioneers
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Dates: during 2000-2009
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...notion that the invasion of Iraq was simply an oil grab took another hit on Tuesday when Baghdad opened the bidding on the rights to develop its massive energy reserves. In a day-long auction of eight huge oil fields - some of the world's biggest - virtually all the 41 foreign companies invited to bid by the Iraqi government balked at the Baghdad terms. The only contract signed was a 20-year deal for a consortium led by BP and China's National Petroleum Corporation to develop the giant Rumaila field in southern Iraq. "Frankly I did not think...
...noticed no one was doing anything with the talent that existed here," says Sunny Rahbar, co-director of the Third Line gallery, one of the first spaces to exhibit local and regional artists. Within months of the gallery's September 2005 inaugural show, Christie's held its first auction in Dubai - bringing in $8.5 million - and the Art Dubai fair was established. (See 10 things to do in Dubai...
...this new burst of demand rapidly pushed up prices and attracted speculators, generating a frenzy in India similar to the ones that engulfed the U.S. and European markets. An Indian auction house, Osian's, even began marketing a sort of mutual fund for fine art. Artists, too, developed unrealistic expectations. "Everyone wants to be Damian Hirst overnight," says Mumbai gallery owner Jai Bhandarkar...
...since September on Wednesday, just as futures prices for Arabica beans - which make up the bulk of the world's supply - topped $1.35 per lb. in New York, the highest since October. Recent droughts from Sri Lanka to Kenya, meanwhile, have constrained tea production, forcing up crop prices at auction...
...What about your clothes? After my wife cleans them, [cancer charity] Marie Curie will auction them. The kit represents the first human to have crossed both ice caps and scaled the highest mountain, which I am particularly pleased with because there is a French man and a Norwegian, both of whom have also crossed the ice caps and both of whom were intending to be the first to do Everest as well. Now that remains a U.K. record...