Christies and Sotheby's are INCREASING the Buyers Premiums!!
As if the last round of rate increases were not
stupid enough... ?
This seems totally crazy to MAO, given we're in the middle of a recession with Art fairs, and art dealers shutting down everywhere ..
But, we guess the auction houses are feeling
overly secure enough to start ripping off charging their clients even more !!!
As we say on wall street,
Bulls make money, bears can make money, but pigs get slaughtered.
So here's the bad news..
|Country & Saleroom Location(s)||Premium||Threshold|
|United States||Los Angeles
Wine Sales only
|Up to $50,000|
$50,001 - $1,000,000
$1,000,001 and above