Julia Lipton 🔜 Farcon pfp
Julia Lipton 🔜 Farcon
@julialipton
It's crazy that Sotheby's was founded in 1744 and Christie's in 1766. There are lower tier auction houses but it's been so hard to unseat the top 2. Any ideas why?
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Julia Lipton 🔜 Farcon pfp
Julia Lipton 🔜 Farcon
@julialipton
These companies might have the best network effects in the world.
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antaur ↑ pfp
antaur ↑
@antaur.eth
dynastic money? I mean both are from Good'old Europe...
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Les Greys pfp
Les Greys
@les
Many collectors or traders will only trade with other reputable names. Assessing art value and truth is a very difficult thing. The closer connected you are to the past the higher your “reputation” to assess said art, like reaffirming lindy effect. I imagine the network is just unbeatable.
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Ben - [C/x] pfp
Ben - [C/x]
@benersing
The brands are a defacto stamp of authenticity in an industry rife with fraud.
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Nat Emodi pfp
Nat Emodi
@emodi
very niche market that cares about the established name and status and both houses have built a business around super-serving high net worth folks in a way that's hard to easily replicate
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slobo pfp
slobo
@slobo.eth
cant buy class
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Alessandro pfp
Alessandro
@azeni
Interesting! It's important to understand their stories to fully embrace NFTs and digital art. Gonna read more about it..
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Maybe Im Wasabi〽️ pfp
Maybe Im Wasabi〽️
@maybeimwasabi
Provenance -> Trust.
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osama pfp
osama
@osama
generational tribalism > normie network effects — always
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sam carter | 현춘 pfp
sam carter | 현춘
@samhcarter
Buyer trust. High-end buyers value anonymity, tradition, and no-BS. Sotheby’s and Christie’s have centuries of proper provenance, tax setup, and discretion. - The process of buying high-end collectibles doesn’t lend itself to shopping around for best buyer’s premium. It’s also a hassle to verify funds at man
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yangwao ↑ pfp
yangwao ↑
@yangwao
I guess the same dynamics as top artists and new can't outperform them easily
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🎩 MxVoid 🎩 pfp
🎩 MxVoid 🎩
@mxvoid
In addition to what everyone else has said, I suspect part of it is the first-mover advantage, as well.
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_slow_crypto 🌅⏳🪁 pfp
_slow_crypto 🌅⏳🪁
@slowcrypto
One of the remaining bastions of classism? Met an estate valuer for one of them who was Swiss, I think, and plenty refined but at her admission she ‘wasn’t posh enough’ to do the *actual castles*.
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