These days it takes more than money to buy art from the hottest artists. “The contemporary-art market hasn’t been this overheated since Soho circa 1989. Nowadays, hedge-fund billionaires who stroll into Chelsea galleries seeking work by Damien Hirst, Jeff Koons, or Cecily Brown quickly discover that money alone won’t help them get it. There is, more than ever, a waiting list, and more to the point, a pecking order within the list, which vaults some collectors above others.”