Christie’s response to Sotheby’s adjusting its buyer’s premium is entirely predictable, though the speed of the reaction is more of a surprise, Alex Capon writes.
The last time the leading auctioneers made changes to their premium was autumn 2016, when Christie’s made the first move, followed by Sotheby’s announcing its changes a month later.
Christie’s lightning response last week suggests it planned to raise the buyer’s premium at some point this season anyway – crucially in advance of the key consignment period for the flagship New York sales in May.