In the 1990s,Sotheby's and Christie's,the two largest fine-art auction houses in the world were colliding to fix prices.These practices are acceptable in the business world to create competitiveness through collaborations.

Question

Quizplus · Accepted Answer

Price fixing is illegal in most countries and is considered anti-competitive behavior. It is not an acceptable practice in the business world. Sotheby's and Christie's were found guilty of price fixing in 2000 and had to pay fines and damages.

In the 1990s,Sotheby's and Christie's,the Two Largest Fine-Art Auction Houses