HOW THE ART MARKET WORKS: THE WARHOL EXPLANATION

I went to Sotheby's to see how my drawings were going. Early 1962 drawings. Fred had been there bidding on them so that drove the price up, but some other guy got them. It's all dealers who put the stuff in and bid it up. It's their business. All the people who have the work just bid it up.

-The Andy Warhol diaries.
 May 10 1984