It’s no secret that art galleries and auction houses often have competing priorities. A gallery’s primary role is to represent the interests of its artists, and to nurture their careers and reputations, often by guiding their sales to collectors and institutions that will serve as stewards of their legacies. Galleries also tend to price their artists’ works with a long view toward creating a sustainable and stable market. Auction houses, on the other hand, are fiduciaries for their consignors. They make markets in the work of many artists, and their primary responsibility is to maximize value for their consignors.
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