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Former Sotheby's chairman Al Taubman and former Guinness PLC chairman Anthony Tennant.
(Photo: From left, Neil Rasmus/Patrick McMullan; Alastair Grant/AP Photo)
DAY 11 Today is WednesdayFriday, June 15January 13,th and we will probe deeper into the relationship between auctions and the art market through the case of
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house and if so, what might that look like?
Readings
Listen to author Christopher Mason explain how he began covering the price-fixing conspiracy http://video.cnbc.com/gallery/?video=697473416;
hear Alfred Taubman's thoughts on his meetings with Sir Anthony Tennant http://video.cnbc.com/gallery/?video=697487072; and see some of
the handwritten notes detailing the terms of the "fix" http://www.cnbc.com/id/23812895/ from CNBC's American Greed, Season 2, Episode 16,
"Soaking the Rich at Auction".
Read Orley Ashenfelter and Kathryn Graddy,"Anatomy of the Rise and Fall of a Price-Fixing Conspiracy: Auctions at Sotheby's and Christie's,"
Journal of Competition Law and Economics I (I) 3-20, 2005 http://www.econ.ucsb.edu/~tedb/Courses/Ec1F07/ashenfeltersothebychristie.pdf
and James B. Stewart's, "Bidding War: How an Antitrust Investigation into Christie's and Sotheby's Became a Race to See Who Could Betray
Whom," the New Yorker, Anals of Law, October 15, 2001, p. 158 https://www.msu.edu/course/ec/360/george/Readings/Bidding%20War.htm
Individual Contributions
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Charles Saunders | Include Page |
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Christina Chaplin | Include Page |
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Vincent Anthony Falkiewicz |
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Kimberly Ann Phoenix It does not seem like the scandal have had a negative affect on the art auction. In November 2010 during the evening sale at Sotheby's the 49 lots sold for a total value of $222,454,500 (Ferreira). The evening sale at Christie's of 70 lots had a value of $272,873,000. The auction attracts big money and a group of buyers who like the thrill of the win. In the art world the auctions at Sotheby's and Christie's are the place to be, as pointed out in the reading from Monday a good seat is a coveted thing, this has not changed since the scandal. The major players in the scandal have all moved on and not into hiding, Alfred Taubman has written his memoir. At the book signing release he was surrounded by powerful people (Peers). Patricia Hambrecht is a mover and shaker in the jewelry world (Peers). DeDe Brooks retired to her Florida home but had recently been spotted at art auctions (Peers). Christopher Davidge is living well partly because of the severance package he received and moved on to speculating in contemporary Asian painting (Peers). The auction house is just one more way that people with money can purchase contemporary art work. Those with connection and relationship with dealers can purchase from the galleries other prefer the auction. The Auction houses have been around for over 200 years and if the resent sales are any indication they will still be around for a long time.
http://findarticles.com/p/articles/mi_qa5377/is_201103/ai_n57241264/
http://nymag.com/arts/art/features/30620/ |
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Dalanda Jalloh | Include Page |
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Daniel Chazen | Include Page |
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Elena Cestero | Include Page |
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H. Hunt Bradley, III | Include Page |
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June Shin | Include Page |
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Kelly Zona | Include Page |
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Khrystyne Wilson | Include Page |
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Kwame Nana-Atoo | Include Page |
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Lipei Yu | Include Page |
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McKenzie Sullivan | Include Page |
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Nicholas Krislov | Include Page |
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Tadd Phillips | Include Page |
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Consider & comment:
Please use this space to respond to your classmates' work and to engage in lively discussions on the day's topic. Keep your comments concise and conversational by responding to others, rebutting or supporting their ideas. Use the comment box below for these observations
Consider & comment:
What did you think of today's readings and wiki features? What issues if any did they raise for you? How did the audio visual material provided support your understanding of this topic? Comment on your classmates' posts. Leave your comments in the box below.
