Word: lasts
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Dates: during 1980-1989
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...have been a disaster. It might have brought $30 million, maybe $35 million, according to informed sources -- a fire sale. And the results for the art market if the World's Most Expensive Picture lost a third of its value in a year did not bear thinking about. "The last thing in the world we want," a senior Sotheby's executive remarked to Edmund Capon, director of the Art Gallery of New South Wales, "is for that f------ picture to come back on the market...
Meanwhile, rumors about Bond's delay in paying up were spreading through financial circles. Last January an Australian finance company approached an auction house in London with the utterly novel idea of packaging an option on Irises, in the event that Dallhold Investments -- the holding company through which Bond owned the picture -- defaulted. The auction house rejected this proposal. In late 1988 Bond himself reportedly tried to pass off Irises to the New York megadeveloper Donald Trump as partial payment on a $180 million deal for the St. Moritz Hotel. Trump, no collector, said the painting was worth only...
...Last week at Sotheby's, Manet's La Promenade was sold for $14.9 million to an unidentified Japanese buyer. If one accepts Dallhold's figures, Bond has thus cleared his debt to Sotheby...
...Last month Sotheby's $27 million loan to Bond, which up to then had been a closely guarded secret, was disclosed by Bond's own company. How much has been repaid? Sotheby's won't say; a spokesman for Dallhold soothingly announced that "all is in order" and only "10% to 25% of the picture price" (between $5.4 million and $13 million) remained to be paid. The balance would be satisfied by the sale of Bond's Manet, La Promenade, at Sotheby's last week...
...much for aiming low. In four seasons as coach at the University of Notre Dame, Holtz has returned the school to the pinnacle of college football from which it had fallen in mortification under the earnest but inept Gerry Faust. Last year Holtz drove a young, tentative team to a 12-0 record and a national championship with a variation of the message that ugly ducklings can become beautiful swans if they work hard, love one another and believe they can be great. Holtz fervently believes that. He also devoutly embraces traditional values, specifically the importance of having...