An article in the New York Times reports on a recent wave of high-profile announcements from some of the world’s most prominent auction houses in attempt to gain the upper hand in the upcoming fall sale season. Among these announcements is the news that Sotheby’s will partner with eBay while Christie’s will expand with a house in Shanghai and Phillips de Pury will unveil a impressive new space in Mayfair. While these announcements might project an attractive appearance of prosperity and growth, the article contrasts them against the inherent instability of public sales, comparing the auction market to a “Baked Alaska dessert — firm and shiny on the top, but soft in the middle and on the bottom.”
Read more at The New York Times
