Competition in the Auction Business’s Middle Market is Fierce, and Growing Fiercer
By Harrison Jacobs••ARTnews
The problem that auction houses are facing for works under $1 million is squeezed margins, as overhead rises and sellers demand more of the profits.
Editor’s Note: This story originally appeared in On Balance, the ARTnews newsletter about the art market and beyond. Sign up here to receive it every Wednesday. A former executive at a global auctio…