ART

How Auctions Work

The New York Times Investigates

how-auctions-really-work-01

If you’ve never been to a live auction, The New York Times just got you covered with insight as to how auctions really work. Firstly, unlike the general belief that the auctions are very spontaneous, they are actually predetermined. Buyers are paired with the works they select at a price agreed upon beforehand, thus the auction itself is just theatrical. There are also more different theatrical tactics utilized during the auctions for the excitement of the attendants from direct eye contact and outstretched arms to the line-up and even the placement of the artwork on the stage. It is now all about the show and keeping up with the art world, being around the who’s who of this world, the regulars say.

Head to The New York Times for more on the topic.

 

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