Manipulating the Market

The current article
in New York Magazine
about the court case between artist Julie Mehretu’s
dealer and a wannabe-buyer is a fascinating read! I’ve heard about artists who
had waiting lists to purchase their work, but I didn’t know it was as common as
it is.

It’s amazing to me how, with so many talented artists out there, there are a
small number of artists with waiting lists of would-be collectors. There are
people clamoring, but who will never be able, to purchase their work.

Why?
Because the work is saved for certain collectors.

Dealers are (or should be) savvy about the market. They know where they want to
place their artists in order to get the most "bang" for their
efforts. The rest be damned. No matter how much money they have.

I can’t decide how comforting it is to know that no amount of money mattered in
this instance.

———–
By the way, the collector who wanted the Mehretu’s work won his case
for $1.7 million.

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