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English Auction Corporation Christie’s: The 3 D’s Strategy of Acquisition for Christie’s, the Total Economic Value Generated by Christie’s Annually, the Reason the Strategy of Chandelier Bidding (Phantom Bidding) is Utilized During Auctions, the Economic Value of Antiquitous Artwork vs the Economic Value of Modern Day Artwork, the Period When the Majority of Valuable Modern Day Artwork Was Created, the Volume of Post World War II and Contemporary Artwork Sold by Christie’s Annually, the Concept of “Outliers”, the Problem With Purchasing Artwork as an Investment, and the 5 Aspects of Importance Within New York City, United States of America Culture During the Modern Day

The auction house Christie’s used to acquire their items by what they refer to as the “three D’s” which stands for “death, divorce, and debt”. Christie’s generates 64,000,000,000 ($64 billion) each year. Creating the illusion of a bid in the room by an auctioneer to ensure a reserve price is met is perfectly legal and is often done so that Christie’s turns a profit because they are solely commission based and without a sale, Christie’s actually loses money when factoring in storage, transport, a...


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