An article in the Wall Street Journal takes a closer look at how auction houses such as Christie’s and Sotheby’s vigorously recruit new collectors. Seeking fortunes large enough to sustain multi-million dollar sales, these auction houses keep a close eye on a new crop of billionaires that has been springing up over the past few years in areas like the Balkans and Central Asia. The courting ritual employed by the houses includes children’s parties, personalized tours, VIP passes, and, in one case, a hand-crafted needle-point pillow.
Read more at the Wall Street Journal
