June 26, 2006

I guess it's true what they say., that the major drivers of the art business are the three D's: debt, divorce, and death.

In "Prosperity Sets the Tone at London Auctions ," New York Times reporter Carol Vogel writes:

Sotheby's sale of Impressionist and modern art, which opened the week on Monday night, featured a collection of paintings identified in the catalog as "property from an American private collection." That collection belonged to Marvin Schein, a manufacturer and distributor of generic drugs and medical products from Long Island who had spent years quietly buying paintings, porcelains and French furniture, many of them at auction. He was selling, people who know him say, because of a divorce.

And his collection fetched some impressive prices.


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