shut-out
n.— «‘It’s clearly a bubble. Look! All the dealers are leaving. It’s what’s called a “shut-out” in the trade. It’s identical to the Eighties except there’s a new generation of suckers. And the new generation of suckers are the Russians. They’re interior decorators. Not collectors. Sotheby’s and Christie’s say that it’s different. That people are more knowledgeable. That they’re not borrowing to buy art. How do they know? Nobody knew the Japanese were borrowing until the banks collapsed. Look, that’s Larry Graff of Graff Diamonds leaving. He just got humiliated trying to buy the Warhol. He went up to three and a half million but it went for four and a half. When someone like Larry Graff is being blown out of the water, that has to tell you something.» —“Going, going, gone for… how much?” by Carole Cadwalladr Observer (United Kingdom) Feb. 11, 2007. (source: Double-Tongued Dictionary)
Further reading
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Leo, a scientIst in Tucson, Arizona, used to live in Japan, where he often heard Japanese speakers using English that wasn’t quite correct. For example, one Japanese friend described someone “full of worry” as scareful. Another...