Catchword: shut-out

Filed Under: English, Arts & Literature, Jargon

Part of Speech: n.

Quotation: ‘It’s clearly a bubble. Look! All the dealers are leaving. It’s what’s called a “shut-out” in the trade. It’s identical to the Eighties except there’s a new generation of suckers. And the new generation of suckers are the Russians. They’re interior decorators. Not collectors. Sotheby’s and Christie’s say that it’s different. That people are more knowledgeable. That they’re not borrowing to buy art. How do they know? Nobody knew the Japanese were borrowing until the banks collapsed. Look, that’s Larry Graff of Graff Diamonds leaving. He just got humiliated trying to buy the Warhol. He went up to three and a half million but it went for four and a half. When someone like Larry Graff is being blown out of the water, that has to tell you something.

Article or Document Title:
“Going, going, gone for… how much?” (URL)

Author:
Carole Cadwalladr

Article, Document, Publication, Web Site:
Observer

Publishing Location:
United Kingdom

Date of Publication:
Feb. 11, 2007

This catchword has yet to be researched.