In any marketplace where quality and value are almost entirely subjective, most buyers crave expert guidance. And the primary art market is a textbook example.

Even among relatively experienced collectors, a tacit assumption animates the gallery sector: Anyone with the confidence, passion, and resources to open a for-profit exhibition space in such an uncertain industry must know what he’s doing, at least to some extent. And the less knowledgeable the buyer is, the more willing he will usually be to trust in a purported specialist.

Unfortunately, such trust is not always warranted. read more