Word: coulds
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Dates: during 1980-1989
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...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. The middle rank of dealers will have been squeezed out by the raids on their artists and stock, and at the bottom of the heap a litter of small galleries, treated as seedbeds by those on top, will be kept to service the impression of healthy diversity...
...could be that no more new dealers of the traditional sort will actually come to power, so that the tradition that stretched from Ambroise Vollard to Leo Castelli and Paula Cooper will be lost. Big dealers will have their tame resident critics, as princes their poetasters. There will no longer be much distinction between collectors and dealers, and the collector-as-amateur will be extinct. On the boards of many museums, a new breed of broker, the collector-dealer-trus tee, will hold sway. And art will keep draining out of America toward Japan and Europe. Welcome to the future...
...political revolution has discovered the fax revolution. Overseas sympathizers of China's student movement last spring quickly learned that the official news blackout could be effectively penetrated through the use of facsimile machines. They used faxes to get foreign press reports into China...
...another entrepreneur, Bond had never given much thought to art until he got rich. "This Pie-casso, now," he asked an Australian museum man over dinner in Sydney in the early 1980s, "is he worth having?" But a major impressionist collection was what Bond hankered after. He knew this could not possibly come cheap. He didn't care. He was, in short, a dealer's dream: Billionaris ignorans, a species now almost extinct in the U.S. but preserved (along with other ancient life-forms) in the Antipodes...
...Bond was trying to shift more than $9 billion in debt. When payment on Sotheby's bridging loan of $27 million fell due, he could not meet it, and Sotheby's rolled it over for another year...