2016•ScholarWorks @ The University of New Orleans (The University of New Orleans)Open access

New Orleans Auction Galleries: Sustaining Vitality in Shifting Auction Markets

Natalie Domingue

Abstract

This report examines an internship experience as the Auction and Fine Art Department Assistant at New Orleans Auction Galleries with discussion of the Company’s history, operating structure, and role in the auction market. In addition, an evaluation of the Company’s strengths, weakness, opportunities and threats and a discussion of the auction industry’s best practices used by international auction houses as they related to New Orleans Auction Galleries is also found. The report concludes with recommendations made by the intern, for the Company’s future sustainability in the auction market.

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Key concepts: Multiunit auction, Business, Reverse auction, Economics, Eauction, Common value auction, Microeconomics