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That this increase in value of the paintings of an artist?
What if you buy a lot of pictures of a dead artist that are not too expensive, and then sell some of them in an art auction and establish popular bidders that bid on them a lot of money. And then continue to sell more of theirs in later auctions again and again that the vendors pay big bucks for them. Could you take this process to increase the value of his other paintings of this artist? It is illegal to do this? Set bidders that will bid a lot for them, and keep doing this in the future.
This particular trick (or variations thereof) has been tried often enough, with varying degrees of success. It is not sound policy because the art market becomes very suspicious when high prices are paid in a Auction of paintings by low cost dealers and collectors usually realize this is an attempt to manipulate the value. The best way is very gradual and over a period long (10 years or less). As far as I know it is not illegal but unethical.
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Foster On Auction: A Complete Exposition Of The Latest Developments Of Modern Auction, With The Full Code Of The Official Laws And 130 Deals From Actual Play (1918) List Price: $48.95 Sale Price: $34.10 Used From: $34.51  |
HIGHLIGHTS FROM AMANDA ADDAMS