Word: moring
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Dates: during 1970-1979
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Many other factors have combined to pump up the proceeds. First-rate works of art are in short supply, and becoming ever more scarce, as the auction catalogues-if not the sales figures-sadly reflect. The prizes go mostly these days to citizens of nations that do not extract excessive...
The price spiral is also sustained by a vastly increased public interest in art. More than 175 million Americans visited museums last year. Americans are better educated and more intrigued than ever with objects of lasting value. They share a hunger for possessions that have not been stamped out en...
Thus collecting valuable objects is no longer the preserve of the rich. At Sotheby's Los Angeles branch, which recorded a 1978-79 turnover of $13.7 million, 50% of all items on sale go for less than $300. Says Sotheby's Los Angeles president, Peter McCoy: "It makes...
There is an instant chic, a feeling of sophistication, in visiting auction rooms; decorated with pricey art and antique furniture, they resemble a cockney's dream of ducal halls. Sotheby's main salesroom in London, hung with chandeliers and often lined with valuable paintings, resembles a grand ballroom...
It has been only in the past decade or so that the big sales have been covered by the press as Events; the sums paid for art used to be buried in newspapers along with ship arrivals. Now, with the tremendous increases in fine arts prices and the expansion of...