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Vincent Anthony Falkiewicz Even though the price fixing scandal of the early 2000's was damaging to not only the players involved, but also the market in general, it still has not changed the perception of the auction house in the art market. Under the economic conditions of the price-fixing period, the market would have slowed anyway. This explains the slowing production of the time. One way it is shown this has not affected the perception of the auction house is, as have seen in recent readings, the auction house's increasing popularity. More than its increasing popularity is its increasing success. The auction house continues to succeed in properly connecting buyers and sellers. More and more buyers are entering the market with the bettering market conditions, and no complaints about overpriced art have been made in recent years. Additionally, the way the situation was handled by not only the law enforcers, but by others in the art community, shows how serious of an offense this way. More specifically, it displays how serious everyone takes events like this in the art world, and how it was only a few bad people, not the whole scene. It is even showed where Taubman tells how sick he felt for letting the whole community down. The auction house in general has definitely not been affected by this small yet serious event. It even opened the opportunity for new smaller auction houses to enter the market. http://www.nytimes.com/2000/11/07/business/worldbusiness/07iht-alice.2.t.html http://www.independent.co.uk/news/world/americas/jury-begins-its-deliberations-in-sothebys-pricefixing-trial-619075.html |
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Erica Gilbert-Levin
References: http://www.economist.com/research/articlesBySubject/PrinterFriendly.cfm?story_id=15522452 http://www.artnews.com/issues/article.asp?art_id=1890 http://www.artmarketmonitor.com/2009/10/01/how-big-is-the-art-market/ http://nymag.com/arts/art/features/30620/ http://topics.nytimes.com/topics/reference/timestopics/people/b/diana_d_brooks/index.html |
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