StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Nobody downloaded yet

Role of Auction Houses - Case Study Example

Comments (0) Cite this document
Summary
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. …
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER98.2% of users find it useful
Role of Auction Houses
Read Text Preview

Extract of sample "Role of Auction Houses"

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
Cite this document
  • APA
  • MLA
  • CHICAGO
(Role of Auction Houses Case Study Example | Topics and Well Written Essays - 3000 words, n.d.)
Role of Auction Houses Case Study Example | Topics and Well Written Essays - 3000 words. https://studentshare.org/culture/1716873-role-of-auction-houses
(Role of Auction Houses Case Study Example | Topics and Well Written Essays - 3000 Words)
Role of Auction Houses Case Study Example | Topics and Well Written Essays - 3000 Words. https://studentshare.org/culture/1716873-role-of-auction-houses.
“Role of Auction Houses Case Study Example | Topics and Well Written Essays - 3000 Words”. https://studentshare.org/culture/1716873-role-of-auction-houses.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Role of Auction Houses

The Prefabricated Houses

...?Your The Prefabricated Housing Housing is one of the main needs for human. Houses around the world are designed depending on cultures, environment and people's needs. It has been estimated that increasing world population will lead to urgent need of new housing needs in future. On the other hand, in UK and elsewhere in Europe, increased housing demand is due to demographic change rather than increased population (Laing, Anthony, and Martin 2).These days, as a result of the global economic crisis; most people prefer simple and small houses because of their low cost and speed of execution. One of these types of buildings is known as "prefabricated house" that kind of housing can be finished in short period and manufactured off-site...
15 Pages (3750 words) Term Paper

Timber Frame Houses

...? Timber Frame Houses Teacher: Timber Frame Houses From the early days people used wood to make their houses but by the passage of time, the techniques, which are utilized in making of houses, are changed. The basic concept of those making from the wood is same such as pillaring and framing. People use many types of wood to make their houses but there are several problems with the wooden frame. The chief problem among many is that the wood is sensitive to weather and weather can make wear and tear in the wood. So the type of wood should be chosen precisely. The hardness and strength of timber is dependent on its cell structure. The more the cell are closed to each other, there will be more strength in timber. And if the cells are a little...
8 Pages (2000 words) Assignment

Online Auction Fraud

...Online Auction Fraud Introduction The invention of the internet was a breakthrough technology, which brought forth revolution in to the way businesses are conducted. Through it, online marketing was born which has been very rewarding to business. This is mainly due to their low cost requirement, larger geographical coverage and accessibility at all times throughout the year. Despite the merit reaped from the conduction of online transaction, internet fraud, which refers to intentional deception of a person by another for personal gain by the use of internet, is on the increase. This has led to numerous victims as the criminal usually diversify their means of attack. After the invention of the computer, various networks were made...
5 Pages (1250 words) Research Paper

Macroeconomics and Microeconomics - Auction Theory

...?Auction Theory Introduction Auction theory is a study of auction markets and the behavior of both the sellers and buyers in the auction (Calzi, . One of the main characteristics of auctions is the presence of independent and uniformly distributed private valuations, where the bidders in the auction have their own valuations of the items being sold (Kagel and Levin, 2002). In this case, each user attaches a private value to the item being bid on, depending on the relative utility of the item to the user. The independence of the auction depends on each user not knowing the value that the other bidders attach to the item, which means that the bidders will bid independently of each other. The result of the independent valuation of bids...
5 Pages (1250 words) Essay

Notion Of Houses

...Notion Of Houses We all have temporary passions, things that seem important for a short time, and as we grow older and expand our experiences, we realize how transient many of these passions can be. My father is certainly more enduring than temporary passions; indeed, his example and his words remain indelibly etched in my mind and my soul no matter how much time passes. He often notes to me that “it is better to build human houses than to build houses with empty people.” This essay will explain my interpretation of my father's proffered wisdom, and how this folksy quotation affects my overarching values, passions, and commitments. More particularly, this essay will discuss education as my most important value, learning in different...
2 Pages (500 words) Essay

Marketing Strategies of Auction Houses

This dissertation discusses the various marketing strategies proposed for the auction houses keeping in mind the relationship of the buyer and the seller. Moreover, it talks about the methods for the promotion of activities carried out in the auction houses which assist in keeping up with the loyalty between the buyers and sellers. Various case studies witness the issues influencing the performance of auction houses in which technology plays a key role. Lastly, this discourse proposes a methodology for further practices in the field of auction houses, thereby, effectively studying the results of the practices involved. All in all,...
27 Pages (6750 words) Coursework

Ethics at the Top Two Auction Houses

... value embedded in the item. The result is quite different in when subjecting the merchandize via auction, given the special treatment of the event. Christie's and Sotheby's, the world's renowned auction firms, regard themselves in a revered place dominating major competitions in the fine arts market. Their expertise and range of presentations made their presence a special attraction to the elite and rich society, catapulting them to fame so distinct from small-scale auction houses whose operations are limited to local or national level. Generally, however, all these competitors in the fine arts auction services play a vital role in the product market. 1.2. The Market Players Dominating the global auction market, Christie's and Sotheby's...
23 Pages (5750 words) Essay

Online Auction Industry

...Five Forces Model in the Online Auction Industry In the online auction industry, the easily available requisite software important for start-ups together with cheap hosting services and low cost of establishing start-ups enhance the ease of potential entrants entering into the online auction industry. In effect, this poses a threat on eBay’s market share, which has an effect on eBay’s profits. Conversely, the simplicity of establishing start-ups makes the suppliers in the online auction industry possess little bargaining power and play a minimal role in eBay’s strategy. In addition, the online bidding platform used by eBay ensures that suppliers do not have a high bargaining power since the buyers dictate the pricing. As pointed earlier...
1 Pages (250 words) Essay

Online Auction

...Online Auction How eBay® works. Auction via eBay is an exciting experience where both the sellers and buyers interact before the real transaction commences (Hsieh, 2008). This starts with the seller ascertaining what one intends to sell, the price and upload the item’s picture in the eBay’s database for the potential clients to see (Hsieh, 2008). Sellers ought to avail adequate information regarding the item with brevity through their accounts besides setting the initial price, though this depends on the selling options one has chosen. To encourage more bidders, the seller ought to set the lowest but reasonable price for the commodity besides the time meant to end the auction though one can end it 12 hours before the due time. Online...
1 Pages (250 words) Essay

Tiny houses

Tiny Houses The Growing Interest in Tiny Houses The growing interest in tiny houses defines our motivations for how we live inphysical spaces. It may be due to the bust of the housing market and the Great Recession that followed, as well as an ethos about living lighter in the face of environmental degradation. There is also a feeling of independence and self-sufficiency linked to this housing typology. An important motivation for one of the couples or people in the film, TINY, a documentary about Living Small, for living in a tiny house; represented sustainability. The movie follows a one man’s epic journey of the tiny living (Mueller and Smith).
The film centers around Christopher Smith, who decided to build his house in the...
2 Pages (500 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Case Study on topic Role of Auction Houses for FREE!

Contact Us