Word: auctioner
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Gentlemanly and discreet, with faces like silver teapots, the better art dealers and auctioneers around London's Bond Street have long maintained their immunity from the scandals of the art world. Circumspection is the motto, coupled with a standing policy-among members of the British Antique Dealers Association-to refund the price of any fake. Therefore, when the biggest art forgery scandal in years came to a head in London last fortnight, the embarrassment was acute. At a press conference, a rubicund, white-bearded cockney painter and restorer named Tom Keating, 59, revealed that over the past 25 years...
...Shoreham watercolors, oils and drawings; Keating made 80 more-mainly by copying details of Palmers and cobbling them together. The first such "Palmer" was sold to a British museum by Colnaghi's, a major Bond Street dealer, in 1965. In 1969 another "Palmer," titled Sepham Barn, went at auction to the Leger Galleries for ?9,400 ($22,560), a sum that staggered Keating and enabled him and his lover, Jane Kelly, the 23-year-old daughter of a retired British army major, to spend a year in the Canary Islands. Jane Kelly sold four "Palmers" to Leger Galleries, claiming...
...about $7.50 per bbl. (compared with the current world price of about $13) only in small annual jumps. Critics charge that this pace is too sedate to discourage consumption or spur production significantly, considering the enormous costs and risks involved. A current example: last week, in the first auction of East Coast offshore drilling rights, oil companies bid $1.14 billion for leases on 154 undersea tracts off New Jersey and New York from which oil will not begin flowing-if indeed much is found-until...
...offering to sell it to the highest bidder. But Dennis, 39, has a thing about cats, and lives with 33 of them (guests who drop in for a visit have been known to find fur in their drinks). So when the Humane Society of New York City decided to auction off some homeless kittens, guess who was asked to be auctioneer? Dennis did fairly well, too: she sold seven cats for $70 and, it goes without saying, picked out one to take home. "His name is Kelly," says Dennis, "and I have three others like him-but not just like...
What has taken the glitter off gold so suddenly? One major factor is that the U.S. has been relatively successful in its campaign to remove gold from the international monetary system. Last year the U.S. persuaded other countries, including a reluctant France, that the International Monetary Fund should auction off one-sixth of its gold hoard, or 25 million ounces. Meanwhile, the economic conditions that triggered the gold boom of 1973-74 have largely disappeared. The dollar is steady, world inflation rates have come down and the general panic set off by the oil crisis has abated. All those trends...