The world’s chief auctions houses have high expectations for their fall art sales. “People don’t care if they have to pay $1 million for a piece that’s priced to sell for $60,000,” says one Christie’s executive. “They’re making up their own rules.”
Collectors know exactly what they want from art: more. A lot more.
Starting Tuesday, the world’s chief auction houses—Sotheby’s, Christie’s and boutique house Phillips—will seek to sell at least $1.6 billion worth of art during a two-week series of sales, setting an expectation they haven’t met in the past three years.
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