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Role of Auction Houses - Case Study Example

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This case study "Role of Auction Houses" to discuss the major role of auction houses such as in the case of Sotheby's, Christie's, and Philips de Pury & Company in relation to the selling of prestigious work-of-arts which can be found in the local and international museums. …
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Role of Auction Houses
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Download file to see previous pages The main purpose of each museum is to collect as many historical objects related to both human and non-human achievements including the preservation of the collected items for many years. (van der Wateren) In line with the preservation of prestigious paintings and other works-of-art, the painting of Mao Tse-Tung (Mao Zedong) who once led the Communist Party of China (CPC) between 1943 – 1976 was placed in an auction back on November 15, 2005, at Christie’s for as much as US$12 million whereas the painting of Orange Marilyn back in 1964 was sold at Sotheby’s for US$17.3 million. (Vogel) In return, museums allow the general public to have the privilege to view collected items through exhibits.
The focus of the study is to discuss the major role of auction houses such as in the case of Sotheby's, Christie's, and Philips de Pury & Company in relation to the selling of prestigious work-of-arts which can be found in the local and international museums. In the process of going through the main discussion, strategic ways that enable auction houses to achieve its organizational goals including the major role of auction houses such as (1) the ways in which auction houses connect the buyers and the sellers; (2) ways in which auction houses are able to search for potential sellers of hard-to-find antiques and other culturally preserved artistic items; (3) official arrangements of public viewing and auction event; and (4) the proper collection of payments from the buyers and the allocation of payment to the seller will be thoroughly explained. Prior to the conclusion, the role of auction houses with regards to the collections found in the national museums will be tackled.
In general, auction houses serve as a link between the buyers and the sellers of a particular item. In the case of old and prestigious items, auction houses such as in the case of Sotheby's Holdings Inc., Christie's International PLC, and Philips De Pury among others serve as a useful link. ...Download file to see next pages Read More
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Role of Auction Houses Case Study Example | Topics and Well Written Essays - 3000 Words.
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