Word: berge
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Dates: during 2000-2009
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...Laurent's art collection got off to a flying start on Day One's sale of Impressionist and modern art. The $266 million tallied on Monday - a record auction for a private collection - is good news for the AIDS researchers who will get part of the proceeds; for Pierre Bergé, the designer's former companion and lifelong business partner who put their joint collection on the block; and for Christie's and the entire art market, which hopes the stunning performance will be the shot in the arm needed to give the depressed market a boost in the wake...
...January, nearly 40% of all subprime loans were either behind on payments or in foreclosure. Now, though, with companies cutting back work hours and unemployment hitting 7.6%, borrowers of all stripes are running into trouble. "Originally, the loan product was driving a lot of the delinquencies," says Steve Berg, managing director of loan-tracker LPS Applied Analytics. "Now you have widespread house-price deterioration and people losing their jobs. If you lose your job, it doesn't matter if you have a good loan product, you still might not be able to make your payment...
...Bergé moved out of the Rue de Babylone apartment 20 years ago, though the pair continued to collect together. The entire collection was bequeathed to Bergé when Saint Laurent died, and he knew almost right away that he would sell it all, with the proceeds - estimated to top $250 million - destined for AIDS research and a Saint Laurent museum. "Since Yves died, the collection has lost its sense," says Berg...
...Still, he remembers when, where and why they bought the wooden Brancusi and the Matisse still life and the antique Roman bust. "The goal was to buy the best painting, the best sculpture," Bergé explains. "If you are a collector, it's not a question of taste. You have to love the work of art, yes, but first is to understand what you are looking at, to know what the painting means in the life of the painter...
...Even when elements of the work on his walls found their way into his sketchbook, Saint Laurent drew a distinction between the two. "Yves and I were convinced that fashion is not an art, but fashion needs art to exist," Bergé says. And so, to keep Saint Laurent inspired, their collection grew into a mixture of styles and epochs. "Works that are on speaking terms with each other," is how Bergé explains it. "A blend. It is the quality of the blend that is important in a collection." And, as Yves Saint Laurent proved time and time again...