An article in the Wall Street Journal this week notes the details and contractual clauses that accompany sales at the higher end of the art market, often in an attempt to prevent speculation. “I don’t want to see my clients gambling at auction,” says gallerist Renato Danese. “What if the work doesn’t sell, or sells below the low estimate? That will hurt the artist in terms of current and future sales, and it will hurt my clients.” Read more at WSJ
