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This week in the magazine, Adam Davidson examines what’s really driving some art prices to record highs. In part, it’s because “the value of any artist’s work is determined by an insider world of cultural arbiters who coordinate with one another,” Davidson writes.

Sergey Skaterschikov, an art-market analyst Davidson consulted, has spent years studying how insiders shape the market — one “completely based on manipulation,” he told me. READ MORE

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