Auction houses are where wealthy collectors and art dealers gather and compete for the best of the art world. These actors tend to change the atmosphere of this world with their performance; Auctioneers are also interested in seeing the boom of the market with successful sales. Although, watching these events, the most important of which are the evening auctions, creates a certain e...

The "Economics of Contemporary Art" by Elisa Zerloni deals with the markets, strategies and star making system in art. A part of this book is dedicated to auctions and the secondary market, which you can read a summary of below.The following text, is from the Persian text translated by Hamidreza Sheshjavani and Leila Mirsafian and published by Farhangistan Honar Publishing.