When is an Art Auction not an Art Auction?
Financial Review | Gabriella Coslovich
When is an art auction not an art auction? It’s worth asking at a time when auction houses are experimenting with new sales models that blur the line between private and public, and that increasingly encroach on the turf of art dealers. Traditionally, auctions have been public events – the auctioneer’s hammer falls and the winning bid is known. But the pandemic has been a catalyst for change, and some auctions are now more akin to secret sales.