Study of La Peau de l'Ours (founded in Paris in 1904 and dissolved in 1914), a consortium of 13 art investors led by André Level, and its positive influence on the reputations of 20th c. avant-garde artists. Details the development of the art collection acquired by the consortium, which featured 88 paintings and 57 drawings by mostly 20th c. avant-garde artists, with a focus on works by the Fauves, Picasso, and Matisse. Discusses the 1914 auction of the art collection, noting its impact on the art market for avant-garde art. Comments on the interdependence between commercial success and critical acclaim reflected in the collection and sale of La Peau de l'Ours.
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