Why do the extremely wealthy have such bad taste? Clothes, art, interior decoration.... Yes, I know that the Greenfield subjects are not entirely representative, as many extremely wealthy people don't even want Architectural Digest to photo their digs.
Were I a celebrity of some kind, the last thing I'd do is invite the world's press to snoop around my home, yacht or whatever. The less temptation out there, the less free info. given thieves, kidnappers and sundry bad asses the better. They do due diligence too, you know.
Regarding the collected art: perhaps if the pix are being collected as investment, then the "guidance" of a gallerist may be very useful in ensuring that money gets made and not lost. Of all folks, they must have the best idea of where perceived values lie. So, you either send it straight into a safe place or you display it for a bit of pleasure and entertainment.
Clothes? I dress like a pauper except that my jeans, for at least since the 70s, have been exclusively Levis. If some people can get all their clothes made to fit, perhaps they might look better in them than if they bought off the peg as I have to do.
Interior decoration? Well, I suppose that in the USA some feel that looking European classic may smell of good taste; unless one has a lot of space, most of that colourful, heavy stuff looks awful. That said, as a relatively middle-class guy at the time, I did sell some good wooden furniture we had and swapped to the glass 'n' chrome stuff during the early 70s. It turned sour quite quickly. Today, if I ever get to sell my place in Spain, I intend to get a smaller pad and turn most of it into open plan, except for the bedroom, bathroom and kitchen, of course, and furnish with as little as possible. Less junk means less cleaning, and even my modest abode of today takes me forever to clean when anyone is expected to come round. As I am a photographer, I have always tried to ensure our walls were basically white; my first studio sported a red ceiling in one room, but it looked stupid (it
was 1966, after all), and home was always pretty much white...in Scotland one needed all the light one could get. And my snaps and calendars looked better against white.
Trouble is, the wealthy appear be in love with ornate wallpaper, so they start off at a massive disadvantage. Even if they eventually call in the troops and get it all painted white, the vile colours may vanish, but the textures, the textures...
:-)