Word: beene
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Dates: during 1970-1979
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The Happy Investors For Atlanta's Noel and Kathy Wadsworth, investing in art is a full-time occupation. Last April, Wadsworth, 43, sold his thriving 20-year-old carpet plant in Dalton, Ga., in order to concentrate on what had been the couple's consuming interest: collecting French...
There are some kinds of success, the painter Edgar Degas once remarked, that are indistinguishable from panic. So it seems with the present boom in the art market. For the past 15 years or so, collectors, dealers, auction houses and their willing accomplices, journalists, have been moved to pleasure, then...
But what, exactly, does it mean? On the most obvious level, it means what everyone knows: that money is losing value. But it also means that we are in the grip of a wave similar to what, in 17th century Holland, was known as the Tulip Mania. The tulip was...
In any case, whom does the art boom benefit? Only collectors and middlemen. Few artists get to share in it. This is partly because boom conditions create an unreal system of reputation, with most of the benefits going to a handful of stars at the top and scarcely anything to...
For most of us who cannot make or buy art but do want to look at it in peace, the art boom has been a disaster. The confusion of art with bullion may have done more to alter the way people experience works of art than any event since the...