Art Newspaper Explores Issues with Third-Party Auction Guarantees

November 19th, 2018

Amedeo Modigliani, Nu Couché, price $157,159,000, via SothebysA piece in Art Newspaper looks at the recent trend toward auction guarantees, and the damage some say it’s causing to larger art market health. “Guarantees have the potential to be the next big art-market scandal, if they are not carefully managed,” says Harry Smith, the executive chairman and managing director of the London-based art advisory firm Gurr Johns. “We seem to have one every 20 years, so maybe we’re due for another. And most crises come out of conflicts of interest.”Read more at Art Newspaper