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It is an indication of the auction world’s close-knit club that Mr. Cerutti once worked for Sotheby’s for eight years. This year, Marc Porter returned to Christie’s as chairman of its American business; he had held the title previously, but did a short stint at Sotheby’s in the interim. Edward Dolman, the chief executive of Phillips (owned by the Russian luxury goods company Mercury Group), used to hold that title at Christie’s. Photo. Guillaume Cerutti. Despite that familiar cast of players, the competition has grown more fierce since the Great Recession. The fight for buyers has moved to the internet and to Asia. The supply side is somewhat trickier, especially when it comes to the most v... Full story

12 October