THE RISE OF NEW RICH VULGARITY

Philip Hoffman, chief executive of the Fine Art Fund Group, an investment and advisory firm, doesn't see a bubble for the art market as a whole. "There are going to be bubbles in certain artists," he tells CNNMoney. "It's the trophy lots that are making the huge money." He notes that buyers of those pieces "want a show-off picture by a brand name artist."

-Moneynews
 Dec 8 2013