On a boring armchair day during a cruise in the caribbean last december, an announcement through the speaker system made us check batteries on our phones and empty the memory cards of all vacation photos. We had 15 min until the lecture on “how the art market works” was going to start.
The result is “3 Generations of Happiness“. It shows young man with a british accent explain the art market according to Park West.
Last week an article in the New York Times gave an overview over Park West’s activities and strategies. Shady, of course. Thinking about it the business model is brilliant: On cruise ships national law is not applicable, the clientele often has spare money to spend and is just as often comparatively uneducated and it is very hard to tell the value of works of art, because it is highly speculative.