@steevc. The problem is that professional people like art historians are ignored and uninformed money people are driving the art world. As my ex-father-in-law said "I have money so I don't need to know anything else..." That attitude of ignorance is what is driving the art market.
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I guess art is a free market like other things and people are free to pay what they want to get something exclusive. There are enough rick folk out there to keep it going.