Word: buyers
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Dates: during 1970-1970
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Personal letters, most people know, can be great liars, because they expose only the best qualities of their senders. What about Christmas cards? The lie no longer matters. It has been institutionalized and glistens with cool professionalism. Thus the buyer can guiltlessly sign someone else's platitude and blithely send it as his own generous thought...
...auction record, $2.3 million in 1961 for Rembrandt's Aristotle Contemplating the Bust of Homer, and the record for a private sale, an estimated $5,000,000 that was paid in 1967 for Leonardo's Ginevra dei Bend, by Washington's National Gallery of Art. The buyer of the Velásquez, Alec Wildenstein, 30, vice president of the New York firm of Wildenstein, firmly denied that he was acting on behalf of any art collector. Said he: "To buy this painting at that price is no risk. This is really cheap." Still, the expansive price staggered...
...Buyer Beware...
...Tomaso or his 24-year-old assistant phone all of the firm's clients each morning, asking what stocks they want to buy or sell. When he hits a set of matching intentions, Tomaso calls back and -without revealing the identity of the seller to the buyer-tries to close a deal. The price is usually based on the most recent transaction on the exchanges. Last year, says Tomaso, he handied some $350 million worth of stock deals, enough to put his pretax earnings well into six figures...
...Institutional Networks Corp., or "Instinct," enables clients to trade stocks over a private network of teletype machines linked to a computer. A client can consult Instinct's "offer file" for any of 1,550 stocks by punching keys on his teletype, which prints out a list. If a buyer spots an offer he wants, he can instruct the computer to connect him with a potential seller to dicker over the terms. To preserve the coveted anonymity, both parties are identified only by coded numbers. A deal is closed when a trader pushes the teletype's "accept" button. Instinct...