Word: beene
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Dates: during 1980-1989
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The inflated market is also eroding the other main function of museums: the loan exhibition. Without a doubt, the past 15 years in America have been the golden age of the museum retrospective, bringing a series of great and (for this generation of museums and their public) definitive exhibitions, done...
By harping on the investment value of art, by hiring personable young sales cadres to explain the significance of the Meissen jug or the not-quite-Rubens, by creating user-friendly expertise, the auctioneers defused this wariness. By the early '80s dealers were getting cut out of the game by...
Criticism of auction-house guarantees and loans has been particularly widespread in the past few weeks, ever since it was disclosed that Sotheby's had lent Australian entrepreneur Alan Bond $27 million in 1987 to buy what became the most expensive painting of all time, Van Gogh's Irises. But...
Can one guess what kind of dealing structure will emerge from this mud wrestling in the '90s? Pessimists think the world contemporary art market, just like the communications industry, could implode into six or seven megadealers, each with an international corporate base formed by gobbling up aging or lesser competitors...
Of course, this would have been exactly the feeling of a cultivated Japanese in 1885, watching his cultural patrimony being politely stripped by American collectors, led by Ernest Fenollosa and the "Boston bonzes." The emerging lesson of the late '80s, which is unlikely to change in the '90s, is that...