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Auctions

An art critic's perspective on the billion-dollar auction of Paul Allen's collection

by David Brancaccio , Alex Schroeder and Jarrett Dang
Nov 11, 2022
Art critic Blake Gopnik comments on the record-setting auction, as well as his own interactions with the late Microsoft co-founder.
'The Conversation' by David Hockney and 'The Attended' by Brice Marden are part of more than 150 paintings auctioned from late Microsoft co-founder Paul Allen's art collection at Christie's this week.
FREDERIC J. BROWN/AFP via Getty Images
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Will Brits embrace economic recovery under the mistletoe this Christmas?

by Stephen Beard
Dec 13, 2021
Some say the return of the U.K.’s only annual mistletoe auction heralds the beginning of the end of COVID-induced social distancing.
Mistletoe consultant Jonathan Briggs surrounded by his beloved berries. "It's not surprising it was seen as something magical," he said.
Mimisse Beard
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COVID-19

Does the sale of fine art need physical spaces?

by Alli Fam and Kai Ryssdal
Jan 27, 2021
Masha Golovina of Masterworks.io talks about the two-tiered economy and says that when physical art fairs are coupled with online sales, "that's the ideal mix."
Two paintings by Fernand Léger that debuted at auction last year before the arrival of the pandemic, which disrupted gallery sales.
Tristan Fewings/Getty Images for Sotheby's
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COVID-19

Should a museum auction its art to raise funds?

by David Brancaccio and Daniel Shin
Oct 28, 2020
It's an existential question, says art critic Blake Gopnik. Once a work of art is in a museum, it's supposed to be more or less unsellable.
The Baltimore Museum of Art's plan to sell off pieces in its collection — including a silk screen of Andy Warhol's "The Last Supper," pictured above — was met with backlash from patrons and donors.
Lex Van Lieshout/AFP/GettyImages
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Nobel laureate Robert Wilson says auctions pervade our everyday life

by Victoria Craig and Alex Schroeder
Oct 13, 2020
Many products are now sold using "package auctions" for a more efficient allocation of goods.
It's not just art sales. Auctions are instrumental in advertising sales, electricity prices, property purchases and more.
Spencer Platt/Getty Images
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U.S. economists win Nobel Prize for auction theory work

by Sabri Ben-Achour , Chris Farrell , Meredith Garretson and Erika Soderstrom
Oct 12, 2020
The winning economists designed auctions that allow for multiple bids over a period of time.
U.S. economists Paul Milgrom and Robert Wilson won the Nobel Prize in economics work on commercial auctions, including for goods and services difficult to sell in traditional ways such as radio frequencies, the Nobel Committee said.
Anders Wiklund/TT News Agency/AFP via Getty Images
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2 Americans win Nobel prize in economics for auction theory

by Associated Press
Oct 12, 2020
Americans Paul R. Milgrom and Robert B. Wilson won the Nobel Prize in economics on Monday for “improvements to auction theory and inventions of new auction formats.”
U.S. economists Paul Milgrom and Robert Wilson won the Nobel Prize in economics work on commercial auctions, including for goods and services difficult to sell in traditional ways such as radio frequencies, the Nobel Committee said.
Anders Wiklund/TT News Agency/AFP via Getty Images
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COVID-19

Auction industry readies for COVID-19 business closures

by Kimberly Adams
May 13, 2020
The last order of business for many bankrupt companies — restaurants in particular — is to put their assets under the gavel.
A closed restaurant in Washington, D.C., in March. Auction companies are predicting a wave of closures and liquidations due to the COVID-19 pandemic.
Nicholas Kamm/AFP via Getty Images
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The business behind celebrity auctions

by Marielle Segarra
Aug 10, 2018
What started in 1970 with a massive MGM auction has turned into a multimillion-dollar global business.
Sotheby's auctioneer Oliver Barker fields bids at the white-glove sale of David Bowie's personal art collection on November 10, 2016 in London, England. 
Michael Bowles/Getty Images for Sotheby's
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Rockefeller auction at Christie's expected to bring in $500 million or more for charity

by Ashley Milne-Tyte
May 1, 2018
The items at the auction include everything from David Rockefeller’s gold cuff links to Picasso paintings that were once owned by writer Gertrude Stein.
Spencer Platt / Getty Images
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