The Art Auctioneer: Duties and Assumptions
Contreras, Jorge
Abstract
The sale of unique art objects at auctions has grown into a multi-million dollar industry in the United States, yet it is still regulated by antiquated notions of agency and sales law. This Article analyzes the legal rules which affect art auctioneers in light of some "common sense" assumptions about the auction process. It reveals that some practices of modem art auctioneers violate these basic assumptions and proposes a set of rules for art auctioneers that conforms with them.