“The art world, layered with prestige, the weight of history, serious scholarship and not a little pretense, has finally embraced photography, but the verdict is still out about the medium’s position as an arriviste. Serious collectors of art are now seriously collecting photographs, but so are people with cash on their hands who view photography as just another status collectible. That status depends in part on the belief that these fantastic prices reflect some inherent worth, not just canny marketing. Do they?”