Auction Profits Lead to Increased Speculation, Avid Buyers

May 6th, 2014

Peter Brant, via New York TimesThe New York Times notes an increased in interest in the art market this season from investors and speculators, leading to committed buyers for nearly half the works up for sale at both Sotheby’s and Christie’s.  The article also notes an increasing trend in speculating on guaranteed sales, as collectors and investors promise the estimate in an attempt to either go home with the work or make sizable profits off fervent bidding.  “It’s a win-win situation,” says Abdallah Chatila, a collector who is guaranteeing two works at Christie’s next week. “I really want both works, and if they sell for more than the guarantee it can also be very lucrative.”

Read more at New York Times