“It didn’t fly, but it was pretty solid,” said Philippe Ségalot, a private art dealer based in New York, referring to the auction.The Wall Street Journal had a different take that might need a grain of salt to be taken with it:
“The fact that so many of these evening-sale lots are now guaranteed gives people the misleading impression that big auctions are riskless propositions, but that’s clearly not the case,” said art lawyer Thomas Danziger.It’s hard to believe anyone thinks auctions are riskless. But a single-owner collection with a global guarantee is a substantially different market proposition than individually guaranteed lots.
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