How Will the NFT Market Shake Up Auction Houses?

+ more

Their primary practice is based around asset protection, trusts & estates, as well as representing high net-worth individuals like art collectors, designers, wine importers & producers, and other professionals in wine & hospitality.

The profitability of an auction house can be very tricky to maximize, as I’m sure both Christie’s and Sotheby’s can attest. Not only does competition amongst the houses often lead to discounts and deals to high end clients to get them in the door, but costs to the houses rack up quickly. Considerations like marketing costs and waving of consignment fees also need to be factored in. Sometimes to get especially coveted in pieces into their house, they’ll even permit wealthy collectors to take home 100% or more of the sale price. Does the NFT market present opportunities for the holding companies to more easily turn a profit, whether they’re a fresh entrant to the market or someone like Sotheby’s? How are these factors shaping the development of the NFT market?

Follow us on social media for the latest updates in B2B!

Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Latest

Joe Oliveri Joins CTSI as CEO, Ruta Moves to Chairman
May 18, 2021
CHANTILLY, Va., May 18, 2021 /PRNewswire/ -- Corbett Technology Solutions, Inc. (CTSI) is pleased to announce the addition of Joe Oliveri, where he will assume the role of President and CEO. Gino Ruta, formerly CEO, Read more
Is It Time To Rebrand WBCT As 3D X-Ray?
May 18, 2021
When it comes to diagnostic imaging, 3D imaging provides an all-encompassing view of the body. For weight-bearing body parts, a 3D look can allow doctors to get an image, make a more accurate Read more
How Are Energy Projects Scaling Up as Renewables Get Cheaper?
May 18, 2021
Energy Innovation recently released a report confirming something some have begun to suspect – fossil fuels could be sunsetting faster than anticipated. The report found that initial conclusions that proposed 75% Read more