Word: auctioner
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...Howard F. Kale Jr. of Scottsdale, Ariz.: "Horse people are always difficult if you're trying to buy their best stock. The Russians are no exception." Founded in 1921 with a group of fine horses that had survived the Russian Civil War, the Tersk farm held its first auction in 1971, after the Soviets realized they could make hard currency selling Arabian purebreds. The best of the Arabians raised on the bluegrass and rich mineral water at the Tersk farm are acknowledged to be among the world's finest. U.S. Industrialist Armand Hammer and two partners...
...control may be going nowhere, but the Soviet-American negotiations at Tersk were a success. On a Soviet horse farm nestled in the foothills of the northern Caucasus, 70 Western horse breeders, half of them Americans, gathered with hard dollars in hand for the annual Tersk stud Arabian horse auction. The goods for sale were definitely low technology, and détente flourished. The buyers sat in a verdant paddock and listened as an auctioneer wheedled, cajoled and otherwise tried to nudge bids upward with capitalist determination. "What's the matter, you leave your wallets at home?" he asked...
Americans are relative newcomers to the Tersk Arabian auction. Kale was a pioneer, making his first purchase in 1975. He says that he made 13 trips to the Soviet Union to obtain Muscat, a stallion that was the U.S. national champion show horse in 1980. In the past eight years, Kale has purchased more than 100 horses from the Tersk farm...
...centers in the U.S., 800 A & W fast-food outlets, 100 movie theaters and a personal fortune estimated at $525 million. Now Taubman, who operates out of Troy, Mich., is going after one of the most prestigious properties of all: Sotheby Parke Bernet Group, the tradition-laden British art auction house. Said Taubman in announcing his offer of at least $100 million in London: "This is like coming over here and buying the throne...
...Sotheby's has been in deep trouble, brought on by sloppy management and overexpansion of its British and Manhattan auction houses during the heady late 1970s, when the auction business was booming. In its last fiscal year, Sotheby's lost $5.3 million on revenues of $92.2 million. Disturbed about the firm's shaky finances, owners have taken their artworks elsewhere to be sold. Late last year archrival Christie's (1982 revenues: $56.8 million) temporarily passed Sotheby's as the world's largest art auction house...