In the art world, there’s a clear delineation between those who experienced the last crash, in the early nineties, and those who didn’t. “This market is fueled by collectors who have never been through a correction,” says art adviser Darlene Lutz, active since the eighties. “The generations who did are watching this with disbelief. It’s like teenagers who have unprotected sex thinking they’ll never get pregnant. And then, whoops . . . look what happened!”
(Note that the article was written in March 2006.)
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