The Secret Codes of World-Class Art Auctions, Demystified
Get your paddles ready: New York is about to kick off what may be the biggest auction season ever. Over the next two weeks, as much as $2.6 billion worth of art is expected to be sold across glitzy evening sales at Sotheby’s, Christie’s, and Phillips. The offerings include a sage-blue portrait of Marilyn Monroe by Andy Warhol that could bring in over $200 million, a billboard-size Basquiat that could fetch $70 million, and Richters, Picassos, and Rothkos galore.
Auctions are the most public and visible part of the art market—but they are also among the most misunderstood. There’s a ton of…
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