Word: saatchi
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...purchase of a large painting by Zhang Xiaogang at an Oct. 15 London auction by British collector Charles Saatchi suggests the tide of interest from overseas will continue to rise. Saatchi paid about $1.5 million for one of the artist's Bloodline series. Still, New York?based collector Larry Warsh believes he got a good deal. "Saatchi is coming in late, but he's important because people follow him," says Warsh, publisher of the magazine Museums and an enthusiastic advocate of contemporary Chinese art. "It will soon prove to be a bargain." Indeed, that prediction may already have come true...
There may not yet be any discerning Chinese collectors in the model of the influential Saatchi. But that's unlikely to affect the demand for modern Chinese art, since many of the newly minted millionaires simply don't have anywhere else to put their cash. "It's what I call the panic of new money," says Zhao, 45, who manages the venerable Courtyard Gallery. "The government is killing the property market, the stock market has been up and down like a bouncing ball, and people don't trust it. They can only buy so many Mercedes. They have...
...purchase of a large painting by Zhang Xiaogang at an Oct. 15 London auction by British collector Charles Saatchi suggests there's every reason to believe that the tide of interest from overseas will continue to rise. Saatchi paid about $1.5 million for one of the artist's Bloodline series. Still, New York City--based collector Larry Warsh believes he got a good deal. "Saatchi is coming in late, but he's important because people follow him," says Warsh, publisher of the magazine Museums and an enthusiastic advocate of contemporary Chinese art. "It will soon prove to be a bargain...
There may not yet be any discerning Chinese collectors in the model of the influential Saatchi. But that's unlikely to affect the demand for modern Chinese art, since many of the newly minted millionaires simply don't have anywhere else to put their cash. "It's what I call the panic of new money," says Zhao, 45, who manages the venerable Courtyard Gallery. "The government is killing the property market, the stock market has been up and down like a bouncing ball, and people don't trust it. They can only buy so many Mercedes. They have...
...well connected: the White House confirmed last week that he still gets a detailed copy of Reagan's daily schedule. In response to questions about Deaver in Los Angeles last Friday, Reagan declared, "I think the whole thing is ridiculous." Nonetheless, all the attention could cost Deaver a bundle. Saatchi & Saatchi, a London advertising and public relations firm, has expressed interest in buying his lobbying organization for as much as $18 million. But the deal has been put on hold, and there are persistent reports that Saatchi has called it off. --By George J. Church. Reported by David Beckwith/Washington