Joseph Duveen, a legendary art dealer, built a successful business by catering to the needs of wealthy collectors. His strategies included controlling the supply of art, tailoring his sales approach, and using high prices to signal quality. By leveraging his extensive knowledge and understanding of human psychology, Duveen built a monopoly in the early 20th-century art market. His influence extended beyond sales, as he played a pivotal role in establishing the National Gallery of Art in Washington, D.C. Duveen's legacy lives on today through the "Duveen Effect," which confirms the perceived value of art based on the reputation of the seller.
