The Future of Auction Houses May Depend on Cheap Art
A flag flies outside Sotheby’s auction house on New Bond Street ahead of a preview of ‘The Midas Touch’ auction in London, U.K. (Photographer: Simon Dawson/Bloomberg)

The Future of Auction Houses May Depend on Cheap Art

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(Bloomberg Businessweek) -- The art market is a very small place. Even the most ­optimistic estimate pegs last year’s global art sales at about $64 billion, or about half the 2017 revenue of Walgre...
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