Will the Art Bubble Burst?

At the turn of the 20th century, collecting contemporary art used to be serious business for a relatively small group of people.  It was an exclusive gentlemen's club with only a few ladies, such as Gertrude Stein in Paris and the Cone sisters in Baltimore, allowed to join in.  An annual trip to Paris, a visit with the preeminent dealer Ambroise Vollard and, maybe, knocking on the door of Matisse or Picasso's studio would be enough for an adventurous collector with an eye on contemporary art...