Sotheby’s and Christie’s Return to Guaranteeing Art Prices

January 14, 2015 § Leave a comment

That auction house guarantees have come roaring back, despite the risks, is a reflection of the largely hidden turmoil in the art market, according to some analysts. Despite the headlines about soaring prices, the analysts say profit margins for the auction houses on big-ticket lots are razor-thin, creating financial pressure that they suggest may have helped prompt Mr. Ruprecht of Sotheby’s, and Steven P. Murphy, his counterpart at Christie’s, to announce recently that they were stepping down.

Tagged: , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

What’s this?

You are currently reading Sotheby’s and Christie’s Return to Guaranteeing Art Prices at art law gallery.

meta

%d bloggers like this: