WOLF'S FINE ART GALLERY AND AUCTIONEERS was the Cleveland region's first permanent auction gallery. It was established in 1979 by Michael Wolf, a native of CLEVELAND HTS., who has continued to serve as the company's president. The firm was located at 13015 Larchmere Blvd., near SHAKER SQUARE, until Sept. 1988, when it moved to the Hat Factory, 1239 W. 6th, in the WAREHOUSE DISTRICT. Major auctions were held at approx. 6-week intervals, and Wolf's soon gained regional notice. Several record prices were set at the auctions. A worldwide downturn in the art market in the early 1990s caused some restructuring of the business, with Wolf relinquishing controlling ownership. In July 1993 Wolf's changed its policy, holding fewer auctions, primarily for important or special collections, and began offering high quality items for sale on a daily basis.