Word: rauschenberger
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COLLECTIONS. Cashing in on an art or coin collection requires specialized knowledge and a hefty checkbook. But the rewards can be enormous. One Manhattan art fancier (or is it financier?) bought a painting by Pop Artist Robert Rauschenberg for only $900 in 1958 and resold it recently for $85,000-a return on the original investment of more than 9,300%. One expert estimates that a good coin collection has appreciated in value by 75% annually for the last few years. Last summer Cleveland Coin Dealer Alan Yale, an ex-stockbroker, bought Mexican gold 50-peso pieces for $173 each...
...Unfortunately, fine artists need more than Rauschenberg's lobbying for legislation granting them a piece of the action on resale of their works [March 11]. While enforcement of royalties for artists may be feasible on resale by galleries and auction houses, it would be extremely difficult on private resale. Perhaps what artists need is a Victor Herbert (or a Rauschenberg) to lead them into an ASCAP-type organization that may have some clout and a capability to police all resales...
...York City Sir / Hurrah for two Roberts-Robert Hughes for his excellent article, and Robert Rauschenberg for his courageous idea...
...clause as a legally enforceable condition of sale for his work. If he does, he must be willing to accept a lower price for his work than he would otherwise receive. The thinly veiled effect of legislated (required) art royalties is to discourage competitors of established artists (like Mr. Rauschenberg) by reducing market prices for the work of fledgling artists. Economists describe the effects of such legislation as raising "barriers to entry." Mr. Hughes would no doubt call this behavior in other markets reactionary...
...artist simply does not know collectors. Scull himself opined that a royalty of 1% on resale would be "reasonable," but that artists should really get their fringe benefits from museums, not collectors. "Museums," he told a reporter, "make their living on shows." ("And he doesn't?" was Rauschenberg's incredulous reply when told of this.) What this cynical proposal would accomplish would be to tax museums - and therefore art education - in order to let speculative investors continue in their present blaze of laissez-faire. In fact, museums do not "make their living" on exhibitions. They are nonprofit organizations...