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Monday, 02 May 2016 11:46

A Look at How Auction Houses Secure Big-Ticket Consignments (Hint: They Don’t Come Cheap)

Christie's New York. Christie's New York. Wikipedia

As competition among auction houses has increased dramatically in recent years, so have the stakes for securing big-ticket works of art. While major auction houses like Sotheby’s and Christie’s have long-waived seller commissions for star lots, the companies are turning to more radical measures to lure top collectors. Known as an “enhanced hammer,” auction houses are now waiving commissions as well as giving seller’s a share of the buyer’s fees.

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