A Closer Look at Art Auction HousesA Closer Look at Art Auction Houses
What do they do, and why are they unique?
Estate-planning attorneys often need to work with art auction houses when their clients’ estates include artwork. If the heirs aren’t interested in keeping the artwork in a decedent’s estate, practitioners may advise them to enter into a consignment agreement with an auction house to sell the artwork. But, there are a variety of auction houses, which have different specialties, locations and personalities. We contacted some of the auction houses that we work with at Trusts & Estates when picking the covers for our magazines: Bonhams, Christie’s, Doyle, Freeman’s | Hindman, Phillips and Sotheby’s. We asked them to provide some insights into the type of work they do and the art market in general. Here are the four questions we posed and th...
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