The Art Newspaper notes the increasingly complex internal workings of the guarantor system at Christie’s this week, including a growing number of behind the scenes deals and third-party guarantees or investors that help push works to ever higher prices. “It is becoming more complex and confusing, and that’s not what you want to have in an art market where prices are at this level,” says economist Olav Velthuis. “With the market expanding and prices rising so high, you want more transparency—but this is resulting in the opposite.”
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