Word: offed
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Dates: during 1970-1979
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Fashion, in other words, is taken not to exist. But the unpleasant fact is that no reputation is immune to fashion. The art market is built on it. The French cattle painter Rosa Bonheur, a favorite of Victorian merchant princes, got ? 4,059 (then almost $20,000) for her Highland...
The flood of undiscriminating investment capital that flows toward art these days may yet produce a crisis analogous to the one that nearly sank the Bordeaux wine industry in the early 1970s. A surge of investment in Bordeaux vintages, to some extent by people who could not tell Medoc from...
In any case, whom does the art boom benefit? Only collectors and middlemen. Few artists get to share in it. This is partly because boom conditions create an unreal system of reputation, with most of the benefits going to a handful of stars at the top and scarcely anything to...
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For most of us who cannot make or buy art but do want to look at it in peace, the art boom has been a disaster. The confusion of art with bullion may have done more to alter the way people experience works of art than any event since the...