Word: feigen
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Dates: during 1980-1989
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...frenzied bidding has gone so high that many serious collectors and museums on tight budgets are being priced out of the market. But no ceiling is in sight. Says Richard Feigen, a Manhattan art dealer: "Investors have converted art into a financial instrument. The process isn't going to change...
...class of mega-rich Americans, some of whom are doubtless more interested in the prestige that comes with the ownership of art than they are in the art itself. "A few years ago, there was only a handful of people who could bid $1 million," says Art Dealer Richard Feigen. "Today you have unlimited billions, and at every one of these sales there are new faces...