On 6 February 2018 –and according to Bloomberg-, the known painter “Art Bastard” impacted the art establishment with a US$100 million proposed class action, in which accuses The Met and four other New York City museums of conspiring to virtually raise prices for some galleries work and also restricting access to the market.
About art, private collectors, galleries and auction houses play an important role in determining which works end up in museum collections. In the case of New York, several of the above-mentioned museums allegedly would be applying a system that drives up prices for a small group of artists while shutting out others who do not carry the imprimatur (in other words, the status) of the contemporary artists within the niche.
