Fine art auction business remains duopoly in its 250-year history. Industry is dominated by Sotheby's and Christie's, Inc. It is curious that no competitor was able to overtake another notable margin despite the apparent network effects of a business. As we enter an unprecedented economic times, as technology pushes forward spread to virtually all areas of business, as well as new competitors fight to get into the fine art of selling space, the two auction houses to investigate changes in its business model. Some of the efforts of the two organizations have already begun, but the infantile stage and, therefore, the success of these initiatives is complete. Sotheby's and Christie's have to decide how to respond to this economic and cultural turning point and whether to continue to invest in these ancillary aspects of their activities.
To enhance their effectiveness, color cases should be printed in color. "Hide
by Ramon Casadesus - Masanell, SY Wise Source: Harvard Business School 21 pages. Publication Date: July 14, 2009. Prod. #: 710412-PDF-ENG
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