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> The article makes it sound like there's collusion or price-fixing between galleries, but there's no evidence of that. I would say that a gallery bidding on a
by fwdpropaganda 9y ago
> The article makes it sound like there's collusion or price-fixing between galleries, but there's no evidence of that.
I would say that a gallery bidding on an auction because they have an interest in increasing the transaction price of pieces being sold by an art dealer connected to them is a textbook example of collusion (as opposed to bidding because they want to own the piece).
As usual free market fundamentalists will disagree that this is wrong in any way.
- gjem97 9y agoFurthermore, restricting future sales to a buyer because you don't like that they sold the last one sounds pretty anti-competitive, especially when you consider that usually a gallery has a temporary monopoly on an artists works.
- DennisP 9y agoNot only that, but dealers themselves privately bid on pieces they're selling to run up the price, according to Art as an Investment? by Melanie Gerlis.