Word: record
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Dates: during 1950-1959
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Editor Claude-Maxe, 45, a longtime peddler of ideas to newspapers, radio stations and ad agencies, will sell the magazine at newsstands (price: $1.20) instead of record shops, claims each record will play up to 1,000 times. "After years of selling ideas to others," he said, "I've finally sold one to myself...
Writing this record, Editor Mayes brooked no interference. Trouble started in 1955 when suave, shrewd Richard Deems was promoted from the advertising side of the Hearst magazines to executive vice president in charge of all magazine operations. The two strong-willed men began a struggle for position-Mayes opposing any tinkering, Deems trying to establish himself...
...were sent to other rooms, where they could follow the bidding on closed-circuit TV screens. The sale took only 21 minutes. But from the first rap of the auctioneer's hammer, prices leaped upward at a $100,000-a-minute clip to shatter every known art auction record. Items...
Staggered and stunned, bidders poured into the night air, set off for consolation champagne parties, tried to figure out what it all meant. Overall, Goldschmidt's seven oils had set an alltime record of $2,186,800, easily surpassing last year's Lurcy sale in Manhattan, when 65 paintings racked up $1,708,500 (TIME, Nov. 18). But it had also distorted the art market beyond both sense and sensibility, made old masters seem bargains. Rubens' Meeting of Abraham and Melchizedek, just acquired by the National Gallery, was bought last year in London for a mere...
With six of the seven Goldschmidt paintings bought for U.S. collectors, the experts began guessing for whom the dealers were fronting. Hottest rumor: the record-breaking Cezanne and two Manets had been bought for Philanthropist Paul Mellon. Eventual destination: the National Gallery, Washington...