Friday, March 29, 2024
 

In Christie’s We (anti) Trust


The June 30-July 7 issue of New York Magazine had a unique story on Christie’s recent gallery launch in New York City. Are we way off mark, or is this like a Colombian cartel skewing local NY dealers and setting up shop in NYC?

Last year, Christie’s International bought the London gallery Haunch of Venison, which represents Bill Viola, Richard Long, and Keith Tyson. It could be a savvy move for Christie’s if the market slows: Collectors traditionally turn to selling through dealers, not at auction, when prices weaken or when they need cash quietly.

Gallerists are up in arms. Art Dealers Association of America head Roland Augustine has said that the purchase of Haunch was to ‘get product for auctions’ and wondered, to Artnet, if the deal would ‘raise some eyebrows’ given America’s antitrust laws. Meanwhile, Haunch was frozen out of the Frieze and Art Basel art fairs.

In the United States, antitrust law is the body of laws that prohibits anti-competitive behavior (monopolies) and unfair business practices (both generally regulated by the 1890 Sherman Act). These competition laws make illegal certain practices deemed to hurt businesses or consumers or both, or generally to violate standards of ethical behavior. In the U.S. the Federal Trade Commission as well as private parties can enforce antitrust laws.

For a brief overview on U.S. antitrust law, see the Cornell Law School’s Legal Information Institute.

 

Comments

No comments so far.
  • Leave a Reply
     
    Your gravatar
    Your Name
     
     
     

     
     
 
Legal

Clancco, Clancco: The Source for Art & Law, Clancco.com, and Art & Law are trademarks owned by Sergio Muñoz Sarmiento. The views expressed on this site are those of Sergio Muñoz Sarmiento and of the artists and writers who submit to Clancco.com. They are not the views of any other organization, legal or otherwise. All content contained on or made available through Clancco.com is not intended to and does not constitute legal advice and no attorney-client relationship is formed, nor is anything submitted to Clancco.com treated as confidential.

Website Terms of Use, Privacy, and Applicable Law.
 

Switch to our mobile site