The art and antiques business is as unpredictable as an English summer. And it is not only the works of art that confound market rules and crystal balls. The fairs that serve as the dealers’ collective showcase similarly defy expectations. Who would have thought, for instance, that fair entrepreneur David Lester could put up a tent on a forlorn intersection in West Palm Beach – not only on the wrong side of the tracks but just feet away from them – and find himself with one of the most glamorous and successful art fairs in America? Or that a charmless...

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