This fall’s international auctions, conducted by Sotheby’s, Christie’s and Phillips, will set the stage for substantial auction market changes. First, just like the stock market, there are bulls and bears in the auction market, particularly for fine arts where sales prices have been hitting record highs over the last 12 months.
Heightened public interest surrounds the upcoming bellwether sales of the Mellon Estate, two magnificent “named” jewels and a number of coveted paintings.
Note: Insiders will also be watching the sea changes resulting from new competitive strategies being employed by the three auction houses. [More on this in our next article, “Auction Intrigue”]