Archive for August, 2007
Buying, the Pleasure and the Challenge
Tuesday, August 21st, 2007August 20, 2007 The chemistry involved in acquiring a work of art requires a very unique processing of emotional and financial needs. Any purchase, whether made by a dealer, collector, or museum should elicit an exhilarating reaction as a measure of the success of the acquisition. In other words, buying should be much more of [...]
Sham Bidding, the Auctioneer’s Unreasonable Advantage
Wednesday, August 15th, 2007August 14, 2007 Some industries can take advantage of elaborate financial and legal loopholes and do very well. The auction business in the fine and decorative arts world, works on that principal. Sham bidding is performed on the buying public to deceptively protect the non-disclosed amount of the secret reserve price. The New York State [...]
Why Is the Fine & Decorative Arts Industry Different From Any Other?
Friday, August 10th, 2007August 10, 2007 There really is no other industry that is dominated by an auction system. I’ve been racking my brain to find one that has any similarity to this industry. Think about it. We are a diverse wholesale, retail oriented business, with unique works of art that are (usually) sold second hand from the [...]
A New World Record At Auction, Set by Christie’s
Saturday, August 4th, 2007August 3, 2007 In a small final paragraph in Carol Vogel’s New York Times column today, it was disclosed that Christie’s now holds the world record for a buyer’s premium, set to take effect at 25% on September 1st on lots selling for less than $20,000.00. Aren’t we supposed to applaud when a world record [...]
Proposed NY State Legislation; Who Are The winners?
Wednesday, August 1st, 2007July 31, 2007 Hold your breath.and the winner is: The Duopoly. It really is a can’t missĀ, as Sotheby’s and Christie’s are in such a dominant position in the industry that they should and could adapt to the legislation without much of a problem. You probably wouldn’t even notice the reserve is disclosed, and wouldn’t [...]