There is another aspect to this, too. Rich people founded eminent museums in the States. Getty donated 700 millions to his Fine Art foundation. The money accumulated to 4 billion at the stock market. In consequence there is too much money in the Fine Art market.
Prices rise and there is no end to see.
This opens up perspectives in speculating. And of course there were wealthy people risking some 40 million on a van Gogh. But of course, when it came to sell things were looking different. This situation is extremely unhealthy to the arts and to the public. The public associates Fine Art with big money.