Mechanisms of Auction Houses. A Guideline for Understanding Auctions and the Art Market

A lecture by Jeffrey Boloten, Course Leader for the Art & Business Program at Sotheby's Institute, at Garage during the Public Program for the exhibition Bidding for Glasnost: Sotheby`s 1988 Auction in Moscow. After an overview of contemporary art markets, Boloten spoke about the growing role of auction houses in price making and outlined new trends in their development, including their growing online presence and collaborations with luxury brands. Jeffrey Boloten (b. 1959) is the Course Leader for the Art & Business Program at Sotheby's Institute of Art (London), Co-Founder & Managing Director of ArtInsight Ltd.—the education partner of art market research firm ArtTactic. Boloten has held top posts at biggest international publishers, including Penguin Books. After completing an MA in Arts Management, he focused on the development of art markets and has since worked at the Tate and a London art college.