In the notoriously opaque art market, the auction house is the only space where the business of buying and selling art has remained relatively transparent and public. As Christie’s and Sotheby’s compete to attract sellers with the most valuable collections, both auction houses are increasingly offering private guaranteed bids, a practice that some worry can distort auction results. Read more at The Financial Times.
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Auction results become more difficult to evaluate with increasing number of third party guarantors
