Auction Wars: Christie’s, Sotheby’s, and The Art of Competition

The two houses will do almost anything to outmaneuver each other, and the friction between them will likely only increase under new CEOs.
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Illustration: Greg Kletsel/Bloomberg Markets

This May, after billionaires had outbid billionaires in New York’s contemporary art auctions, something became immediately clear: Christie’s had just clobbered Sotheby’s with a gavel.

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