According to a recent report, guarantees are down—what's happened?

There is a growing trend for guarantors to spread their risk by selling off parts of their guarantees—violating auction house rules

Don't be fooled by the higher-than-ever sale figures—the market is softening

Auctioneer Simon de Pury looks into his crystal hammer

The recent London auctions suggested a market of extremes, with some seeking the safety of guarantees and others speculating on works by young stars on the rise

Former deal-maker, who joined the auction house in 2016 with the acquisition of Art Agency, Partners, will leave on 31 December

Third-party auction deals have made some people very rich—but they may be bad for the market in the long run

Guarantees can be lucrative, but in the face of savvy competition, novices can get burnt when backing works as a third-party