Issue/61/

NEWS

An Australian Auction House Comes Under Scrutiny After Allegations of Price Manipulation

By Michael Young

SYDNEY — The principal partner of two leading Australian auction houses is at the center of a brewing domestic art-world scandal. In September, Rodney Menzies, co-founder and chairman of Australian auction houses Deutscher-Menzies and Lawson-Menzies, denied widespread rumors and articles in the press that he has used his own auction houses to sell paintings in which he has a vested financial stake and then bought them back, thereby artificially boosting their prices at auction, a form of market manipulation that violates…

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