Purchasing art through an auction is very different from buying art at a gallery. At auction, prices are transparent. Anyone can bid. and the highest bidder wins the artwork. At the gallery, the process of acquiring the piece and the price of the piece itself is much more opaque. One might assume that these two different selling points are always competitive, but sometimes the goals of galleries and auction houses are consistent. and shops work together Indeed, their collaborations are an integral part of the art market.
while galleries discover, present, and build collectors who follow their artists. They may take their artists’ work to the secondary market using their resources to their advantage. From time to time, galleries and auction houses work together to examine past works and discuss their origins. more than that especially in facilitating sales in the secondary market.
Auctioneers’ clients often have specialists who help them find work on items that may not be available in upcoming auctions or easily available in the main market. These specialists or consultants may contact the gallery to gain access to collectors who own certain works. Conversely, the gallery may contact its clients to explore the possibility of resale. Although this process begins at the auction house. Such transactions usually occur from the sales floor.
On the other hand, galleries and dealers may purchase items through auctions. and then sell it to their customers later. “It’s a relationship-based business,” said Noah Horowitz, Sotheby’s head of galleries and private dealer services. “The art market demand is all about accessibility—if we can really provide great accessibility. with something really great That is applicable to all parties.”
Although the gallery is known for placing works by established post-war and contemporary artists at auction on the secondary market, it is still a great place to live. They are also working more at auctions in the main market, where new artists are in demand. Although auction houses have been playing in the mainstream market for decades. but new sales initiatives It has been featured over the months and years by Christie’s, Simon de Pury, Sotheby’s and Artsy in such cases. The work for sale comes directly from the artist, and in some cases, so is a representative gallery.
For example, Artsy Auctions uses a prime marketplace auction model that benefits galleries, artists, and social impact organizations. them for the sake of choosing That next sale will launch on September 27 in collaboration with Gagosian, focusing on one large new painting by Stanley Whitney for the benefit of the Art for Justice and Planned Parenthood of Greater New York fund.
Also this month, Christie’s also announced a partnership with Baltimore’s Galerie Myrtis for a partial auction on September 29. The auction house will sell capsules of six artists of color titled “Time, Space, Existence: Afro. -Futurist Visions From Galerie Myrtis”, in line with the exhibition held by gallery founder Myrtis Bedolla in Venice this year, “The Afro -Futurist Manifesto: Blackness Reimagined” in time with the Biennale.
Auction houses also conduct fixed-price private sales that may involve galleries and dealers. Gradually, this mechanism has become an integral part of the auction business. Because it combines private sales exhibitions and opportunities into their services. in doing so Auction companies have encouraged their professionals to engage with clients in both public auctions and private sales. by separating the scope from each other by focusing on the needs of collectors
Auctions are sometimes held in galleries to create brand awareness. For example, Phillips recently held an exhibition called “New Romantics” at the Lee Eugean Gallery in Seoul, shows alongside Frieze Seoul and KIAF, and It led to a big sale at Phillips Hong Kong two weeks later. This gallery has benefited new visitors and potential collectors from around the world. as well as part of the sales
The traditional idea of a competition between galleries and auction houses is slowly deteriorating as they find more ways to work together. More and more merchants and dealers are working on auctions. As a business client and partner in a larger art ecosystem, ultimately, auction houses and galleries It is similarly driven by the growth of the art market. Attract a new global audience of collectors and support the next generation of top artists.