Word: thereness
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Dates: during 1980-1989
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But the ultimate loss to art's hyperinflation may be wider and less tangible than this. Quite rightly, MOMA's Varnedoe rejects the idea that "there was some mythical period, now lost, when art was seen only as the shining purity of aesthetic experience. As long as there has been...
The problem is that although art has always been a commodity, it loses its inherent value when it is treated only as such. To lock it into a market circus is to lock people out of contemplating it. This inexorable process tends to collapse the nuances of meaning and visual...
But who can now pay for the insurance? When the Metropolitan Museum of Art's show "Van Gogh at Arles" was being planned in the early '80s, it was assigned a global value for insurance of about $1 billion. Today it would be $5 billion, and the show could never...
As for the propriety of Sotheby's practices, Ainslie says, "Our procedures follow every regulation required of us. We proudly market our financial services. There is a suggestion that financing is immoral or wrong. That is an elitist view that we frankly find ridiculous."
So is there a case for setting up an independent regulator -- an art- industry Securities and Exchange Commission? Not before hell freezes over, say the auction houses (although Christie's may be wavering a little on the point, since it has no guarantee and loan system to defend). Probably not...