Auction estimates face scrutiny

The UKs Advertising Standards Authority (ASA) has begun talking to trade associations in the art market about the way auction houses present their pre-sale estimates, following a complaint that these do not include the (mandatory) buyers premium. In July, the Antiques Trade Gazette reported that the ASA had launched an investigation, though a spokesman for the authority says the publication has got slightly ahead of itselfnothing has been finalised. He added: But we have decided to take a proact