The Transformative Value of Fine Art
This post is about the financial aspect of fine art and its non-financial effects on mankind.
Americans are passionately, stupefyingly, electrifyingly in love with the rags-to-riches story. It speaks of limitless opportunity, the nobility of the downtrodden and of the inextinguishable hope we harbor for a better tomorrow. We crave these ideas, devour them like ice cream or buttered beets. They represent the apogee of American idealism and are the sine qua non of America’s implicit promise: all your hard work will be rewarded.
Born in 1883, Chester Dale was the son of a Manhattan department store salesman. A contumacious, red-headed boy, he could not be constrained. His father sent him to Peekskill Military Academy for some structure but Chester spent most of his time and all his allowance at the nearby horse track. At the age of fourteen he decided Peekskill wasn’t for him and made his way to New York City where he got a job on Wall Street as a runner.





