Inside Christies And Sotheby
This leaves us with auction houses of a more standing
reputation, such as Christies and Sotheby. Most of us have
heard these names in the news associated with the sale of a
million dollar painting or a three hundred thousand dollar set
of earrings. The reason for this is, very rare and
expensive works are auctioned at these houses.
While rumors of price fixing have been an issue lately,
in the end you are still getting a master's level work and you
can be certain the bidding will start at no less than
twenty percent off the established market value.
The big validation for houses like Christie's and
Sotheby's is they do a great deal of research before they put
an item on the block, and there is an implied assurance of
authenticity. A lot of the smaller auction houses have no
implied guarantee of authenticity; in fact many of them will
have disclaimers right at the beginning of the auction or
have something in the program making the disclaimer.