If true, the arrangement, whereby sellers guarantee one another’s works within the same sale (effectively stabilising the auction), is “extraordinary”, says the art-market commentator Georgina Adam, the author of Dark Side of the Boom, out this month. “I’ve never heard of it. If this type of deal is common, it’s unknown to the wider market, and it only reinforces the impression that the system of guaranteeing or pre-selling work is totally opaque. It belies the myth that auctions are transparent marketplaces,” she says.There's a melange of different ideas and issues conflated into this paragraph that are worth unpacking.
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