Larry Gagosian

I mean, if I was...

My dream would be to be represented by, like, Larry Gagosian.

Sal, you are hustling this stuff.

Oh, shit.

One was a recent Bloomberg article, a provocative one, that suggested, uh, in the headline, "Boomers are leaving behind more art than anyone wants." I guess the suggestion is that, um, boomers are moving on, [laughs] and they've got a lot of art, and they're leaving estates behind, and there's too much art.

Uh, Larry Gagosian, this was the other peg you had, uh, was in Sagaponack last week, uh, having a, one of these fancy Hamptons gatherings where our people go hang out.

I hope you were there.

Um, and he was like, "Sounds great to me," [laughs] which led you to write, y- sort of pick apart the, the Bloomberg thesis.

One is the, you know, Bloomberg said there's a trillion dollars worth of art, uh, owned by boomers that's gonna come to market, and it turns out that number comes from a report from wealth managers where they basically worked backwards from numbers.

"Hey, if, uh, there's, uh, people with $30 million or more ha- have this much money, and 5% of it's in art, there must be a trillion dollars of art out there." So it wasn't like there was an inventory of all, all of these artworks that they're like, "It's a trillion dollars, and does anyone want this, uh, art anymore?" But, well, I was at this private bank event at the Parrish Art Museum in the Hamptons.

Uh, Larry Gagosian was being interviewed.

You know, everyone was hanging on his every word, and someone in the audience said, "Hey, what about this article? You know, uh, what's gonna happen?" And Larry being, uh, you know, a smart guy, kinda reframed the question as, "You're worried that all this market, uh, art's gonna come to market, and the prices are gonna go down." And he said, "To me, that's a buying opportunity."

not

a sort of Larry Gagosian level art dealer.

Yeah.

Jim Thompson did...