Word: highes
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Dates: during 1980-1989
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Sean Scully's prices through his regular dealer David McKee have jumped from $90,000 to $140,000 in the past six months, but Scullys are trading on the secondary market as high as $350,000, and Saatchi recently unloaded a block of nine of them on the Swedish dealer Bo Alveryd, who last month spent $70 million at three London galleries (Marlborough, Waddington and Bernard Jacobson) before moving on to the New York fall auctions. There he underbid the $20.68 million De Kooning and bought, among other things, a Johns for $12.1 million. "I thought Saatchi had good intentions...
...late 1987 the name of Alan Bond was riding very high in America, and in Australia he was a hero. "Bondy," as his country called him, was the prime mover in the syndicate that funded the design, construction and testing of Australia II, the 12-meter sloop with the controversial winged keel that swept to victory over the U.S. defender off Newport in 1983, leaving, for the first time in yachting history, an empty plinth in the New York Yacht Club where the America's Cup used to stand...
...high school dropout who emigrated from England as a boy, Bond had come up the hard way, fueled by an insatiable drive to acquire, combine, take over. At 49 he was one of the richest men in Australia. He controlled an empire of assets under the umbrella of his holding company, Bond Corporation Holdings Ltd.: television stations, retailing, minerals and breweries around the world. He had even figured out a way of selling nonalcoholic beer to Muslims in the Middle East. Everything about him was on a large scale -- his ambitions, his capacity for risk, his appetite for publicity. Also...
Irises, it seemed at the time, was the picture that saved the art market after Black Monday -- Oct. 19, 1987 -- when Wall Street plunged 508 points. Actually, the market was running quite high between the crash and the sale of Irises, but the painting was greeted as a talisman. Bond beefed up the security arrangements on the top floor of his headquarters in Perth to fortress strength and unveiled his acquisition -- the only Van Gogh in Australia -- to the press. "This isn't just a great painting!" he exulted to the cameras. "It's the greatest painting in the world...
...needless to say, was framed to help undercapitalized businesses that cannot afford new tractors, not financiers who want to turn a Manet into a tax loss.) Bond had the Manet from Chemical on such an operating lease and got tax write- offs on it that may have run as high as $3.5 million...