Watching Art Auctions -- Voyeurism or a New Avenue to Learn? Over the [...]

As I glance through art reports with their fancy charts and seemingly thorough analysis, I wonder about the goal of all this information. More importantly, how were they able to gather such detailed information in a market that is so opaque, idiosyncratic and highly segmented?

Taking a risk on an emerging superstar may prove enormously rewarding and lucrative or it may turn out to be a complete bust.