Monday, April 14, 2014

A tale of two markets....

Louis Lozowick (1892-1973)

Who determines value? What role do Auction Houses have with respect to the Art Market? Here is an excerpt from an Art Market Report Fall 2013 from a NYC gallery:

When our gallery opened in 1979, auctions wre the "wholesale" source for acquiring inventory. There was a clear division: auctions sold to dealers, and dealers sold to collectors and museums. With the advent of the Internet and price transparency, auctions began to market to the general public....."

To read the entire excerpt, click here