Other Business Commons^™

Re-Thinking Risk Management Of Auction House Guarantees And Third-Party Irrevocable Bids, Nathan Krasnick

MA Theses

This paper addresses the question of how deviations between expected and actual art auction results impact the auction guarantees made within an artist’s market and among multiple artists, and whether those impacts can be identified and quantified. To do so, I use a theoretical pricing model based on datasets of historical auction records going back to the earliest available date for a specific artist but no further than 2010. I find that, in comparing the model’s expected and actual results to empirical price deviations at auction, we can identify and quantify the impact of those deviations on guarantees.

Have Traditional Auction Houses Been Affected By Online Ones?: The Case Of Phillips And Paddle8, Heejae Chung

MA Projects

There is always a strong demand for high quality art and collectibles. With the analysis of the case study and the interviews with experts from different auction houses, this paper will show whether the traditional auction markets have been affected by online ones.

Phillips is taking a strong hold over the middle market. In particular, Phillips’ Contemporary art department is known for focusing on younger artists, which represents lower prices than other areas. To compare in a fair way in terms of price and genre of artworks, Phillips’ Contemporary Art Day Sales in New York from 2006 to 2016 will …