How ‘third party partners’ helped Christie’s record-breaking New York auction
Frank Lord spoke to The Art Newspaper about guarantees in the art market. Frank said, "What counts as direct or indirect interest depends on how the deal is structured. If an auction house only sells off a part of the guarantee, and the third party retains privacy, then it would seem that the auction house does have an interest, even if the third party doesn't bid. It would seem like the auction house would have to disclose that."