Forbes billionaires

Friday Chronicles #2: the luxury auction market is lost in translation

Friday Chronicles #2: the luxury auction market is lost in translation

When a Rolex Daytona steelcase is sold for $ 400’000, when a Francis Bacon triptique reaches $ 142 million whereas the correct price is half of it, then we have a problem. The entire Auction market is trusted by hundreds of people around the world who has in average between 20 to 40 million dollars to spend in luxury goods every year. This means that certain objects, no matter if they are Art, Fashion items or Antiques, will see their…