Word: timed
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Dates: during 1970-1979
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...important auction combines the tension of an operatic first night with the ambience of a celebrity party. A top auctioneer has the talents of a croupier, a fight promoter and a matinee idol. As SPB President John Marion, who has wielded the gavel for 18 years, said to TIME'S Georgia Harbison: "A good auctioneer is very much like a good lecturer. Everyone should understand what's going on and be sitting forward in his seat." He added: "Sometimes the atmosphere in the salesroom is absolutely crackling. The eyes of the whole world...
That may be an exaggeration. The wealthy and the powerful have invested in art from time immemorial, though it is true that the great collections have been amassed by acquisitors possessed of taste and love for the objects they buy. They have not generally been dis couraged by hard times. On the contrary, in recessions and depressions and inflations, the smart ones tend to liquidate stocks, bonds and real estate and thus have all the more cash to invest in other fields. Like art. Given the scar city of beautiful things and the insatiable demand for them, the sales will...
...Victorian paintings of which he is an avid collector. A New Yorker who owns several plastics companies, he accumulates paintings and bronzes because "there is nothing more exciting than to have great objects of art around." He concentrates on 19th century academics, pre-Raphaelites and symbolists, because at the time he began collecting 20 years ago they cost relatively little. Hofstra-educated Pivar has steeped himself in his field since then, reading exhaustively and traveling to important auctions around the world. Says he: "To be a knowledgeable collector of 19th century painting you have to be a mythologist as well...
...Happy Investors For Atlanta's Noel and Kathy Wadsworth, investing in art is a full-time occupation. Last April, Wadsworth, 43, sold his thriving 20-year-old carpet plant in Dalton, Ga., in order to concentrate on what had been the couple's consuming interest: collecting French and American impressionists. "We've always been interested in art, and we'd always bought local artists," he explains. "Then, five or six years ago, we just had a yearning for artists who were names in books, fine art, artists who were dead...
...people wanted them very much, whereas before they had been invested with a kind of fetishistic and obsessive "rarity." Bullion is not absolute; its value is a matter of assignation, of social agreement. Tulip bulbs are no longer bullion, and it is not hard to imagine a time when art will not be either. It has happened before, and can easily happen again. Those who pronounce on art's power as a hedge against inflation-as a commodity that rides the inflationary spiral, always ahead of money-tend not to mention that when runaway inflation lays waste an economy...