Word: upping
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Dates: during 1970-1979
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Collectionitis is as pervasive as inflation, as euphoric as a drug high. Its grip reaches far beyond the roseate world of Rembrandts, Sèvres porcelain and Georgian silver. A vast subculture of acquisition is feeding on scarce objects of every conceivable description. Britons are busily unearthing-and auctioneers as...
Victorian painting from both sides of the Atlantic has emerged triumphantly from post-Reginal depression. Long dismissed as sentimental kitsch, mighty canvases of noble beasts, Highland crags and soul-pierced virgins were selling for at most $1,000 in 1967; they go these days for up to $100,000. A...
Many other factors have combined to pump up the proceeds. First-rate works of art are in short supply, and becoming ever more scarce, as the auction catalogues-if not the sales figures-sadly reflect. The prizes go mostly these days to citizens of nations that do not extract excessive...
In a ferociously competitive business, similar tactics of search and cultivation are used by major auction houses across the U.S.: Robert W. Skinner Gallery in Bolton, Mass.; Adam A. Weschler & Son and C.G. Sloan & Co. in Washington, D.C.; Mortons in New Orleans; San Francisco's Butterfield & Butterfield; West Palm...
A far more controversial move was made by Sotheby's last summer. The company announced that it had entered into an agreement with Citibank, the second largest banking organization in the U.S., to assist the bank's millionaire clients in acquiring artworks for investment. Though Sotheby's...