Bulletin | January 2026

After seasons of stalemate, buyers and sellers finally started talking again in late 2025 – but not every result tells the same story. This edition of The Back Room Bulletin looks beyond the headlines to examine why attractive estimates mattered, how depth of bidding signals real confidence, and what Wool, Brown, and Basquiat reveal about perception and value. It also explores gallery closures, emerging business models, and what to watch as the market recalibrates in 2026.

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