The success of the downmarket sales is rarely trumpeted as such by auction houses. Marketing teams don’t like to boast about how well they sell mediocrity. These sales prove beyond doubt that there is considerably more cash around, ready to be spent, even at the more modest levels of society, than is generally realized. It is all a matter of psychology, and somehow there is nothing like the competitive lottery atmosphere of an auction to whip it up.
- Souren Melikian
Useful link:
www.christies.com
Great review. Thanks Souren.
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