Competing For Art

Major auction houses compete hard for the collections they sell. “To win a coveted collection, Sotheby’s and Christie’s will offer everything from elaborate dinner parties and Champagne and caviar served in the skyboxes to single-owner catalogues and all-expense-paid trips around the world. But what matters most right now is the money that the firms are guaranteeing and advancing to consignors, more so than the track record of the auction house or the personal relationships that have been created. In the majority of cases, when push comes to shove, the money will win.”