Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Banks, Kenny Schachter’s Underpants and the Art Market

June 2, 2016 by Marion Maneker

Kenny_Schachter_press

Kenny Schachter was doing the pre-release publicity for a BBC4 hour-long film which will be broadcast in June.

Speaking at the Hay Festival, Schachter goes for the ‘hotbed’ of corruption angle, according to the Telegraph:

Speaking of “legal insider trading in the art market”, he said: “Let’s say I am a trustee … and you find out that the museum will be showcasing the work of a mid-career artist and they are going to be presenting a one-person exhibition at the museum.

“If you are privy to that information there’s 25 per cent in it for you.”

He added the art world was also now used for “money laundering”, after the wealthy realised “you can’t make a deposit or withdrawal at a bank without them looking at your underpants”.

Art world is ‘hotbed’ of corruption, collector claims (Telegraph)

More from Art Market Monitor

  • It May Be Time to Take Phillips SeriouslyIt May Be Time to Take Phillips Seriously
  • ABMB Sales: Tully’s ListABMB Sales: Tully’s List
  • Alternative Adams TheoriesAlternative Adams Theories
  • Sotheby’s NY Cont Eve = $375mSotheby’s NY Cont Eve = $375m
  • Phillips Armory Week = $8.7mPhillips Armory Week = $8.7m
  • Vernissage TV: George Condo at New MuseumVernissage TV: George Condo at New Museum

Filed Under: General

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • $10 M. Picasso Portrait Unseen for Decades to Sell at Bonhams
  • Tony Podesta's Secret Art Buying
  • Vienna Secession Painting, Long Thought to Be Lost, Sets a Record at Auction
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • Restituted Van Gogh Portrait from London Collection to Sell at Christie’s
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • Roy Lichtenstein’s Top Ten Auction Prices
  • Collection of Texas Heiress Anne Marion Expected to Fetch $150 M. at Sotheby’s
  • Sotheby's Pulls in a $9m David Hockney for November
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor