Photo: David S. Allee.
Megan Fox Kelly spoke with Rachel Corbett at CURBED about the November New York auction results and the sale of the Leonard A. Lauder collection.
To woo top sellers, auction houses compete with marketing promises, offering guaranteed minimum sale prices and lowering their own fees, which can lead to narrow profit margins and risky gambles on works that may not sell. Sotheby’s would not disclose the terms of its deals with the various consignors, but, according to art advisor Megan Fox Kelly, it had to involve “putting a lot on the line.”
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