Auction houses have a reputation for being formal institutions, steeped in tradition and old money. Sotheby's was founded in 1744, Christie's in 1766 and Phillips in 1796. Yet in recent months, one has collaborated with a key figure in New York's post-punk revival, while another has listed works at starting bids friendly to even half-broke twenty-somethings. Are auction houses suddenly... hip?

 

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