Ramtin Naimi

And then as soon as that happened, their price is basically quadruple.

I'm not saying that's the purpose behind doing this, but obviously it's nicer to pay 25% of the cost of something versus full value.

Basically just started maintaining those relationships and then trying to see what I actually liked from their programs, because like anything, not 100% of the artists graduate.

So from there, that's when you have to apply some of your own judgment and hope that you have the right taste to identify what are other people going to find appealing?

What are institutions going to find appealing?

The reason Ovitz's collection is not attainable is due to the sheer value of it.

There's this one art list that ranks collections based on the means at which they were obtained, which is actually really interesting because people today say Steve Cohen and Ken Griffin have the world's greatest collections, and they probably do, but they don't assign the same score to them because... It's like a low IRR collection.

Exactly.

If you can afford to buy any piece of art in the world, it's easy to know what the 50 most iconic things in the world are.

And everything's for sale in the art world.

So as long as you're willing to pay the price, you can build that collection.

And then the collection that scored the highest was a wife and husband who were both government employees.

The husband was a postman and the wife was a librarian.

And they spent their weekends collecting art in the 60s.

And they were collecting Pollocks and Rothko's.

They ended up giving it away all to museums.

They never actually did it for any monetary gain, but their collection ranks so high because they were actually able to judge based purely off of talent and skill before anybody had any idea who these artists were and before there was any value assigned to their work.

In every decade-long window, there are certain bodies of work that are considered iconic, that if you think to that decade, these are considered iconic bodies of work.

In the 80s, you have the Richard Prince Cowboys, which Michael has probably one of the greatest ones out there.

Stu has a couple of great ones.