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.”  (more…)

This is Money, the financial news site for the UK’s Daily Mail, reports that Poly Culture, China’s largest auction house, is a likely candidate to acquire Bohhams. The current controllers, chairman Robert Brooks and collector Evert Louwman, began looking for a buyer earlier this year for the auction house, which is perhaps best-known for its sales of vintage and antique cars.  (more…)