Are The Nouveau Riche Ruining The Art Market?

Art has always been a popular preoccupation amongst Wall Street’s more successful high rollers, and a new generation of newly minted billionaires is making a significant mark on the collecting scene. In fact, some of the most aggressive specimens amongst the new breed of collectors are willing to pay almost any price for a piece they’ve set their sights on, and that is leading to accusations that such newcomers are creating an artificially inflated market for high-end art, and purchasing works more as trophies than anything else.