Game Strategies in Luxury Auctions: Balancing Economic Efficiency and Cultural Significance

Zixin Lu

2025

Abstract

Luxury auctions represent a critical nexus between economic valuation and cultural preservation, a dynamic of increasing importance as global demand for rare artifacts grows, prompting scrutiny of their broader impacts. The 2021 Sotheby’s auction of the Marie Antoinette Diamond Bracelets, fetching $8.1 million, exemplifies this tension. Competitive bidding in an open format drove prices far beyond the $2-4 million estimate, showcasing economic efficiency through heightened rivalry and bolstering auction house prestige. Yet, the bracelets’ privatization by a collector and export from France severed public access, igniting debates over heritage erosion and ethical stewardship. These market dynamics reveal a fundamental paradox: Emotional overbidding further signalled risks of market instability. Proposed measures include export restrictions to retain national treasures, hybrid auction formats to temper price surges, and partnerships with cultural institutions to ensure accessibility. These strategies seek to harmonize profit motives with societal values. As heritage items flood markets by 2025, this analysis underscores the urgency of reforming auctions to safeguard cultural significance alongside financial success, offering insights into sustainable practices that preserve shared history.

Paper Citation

in Harvard Style

Lu Z. (2025). Game Strategies in Luxury Auctions: Balancing Economic Efficiency and Cultural Significance. In Proceedings of the 2nd International Conference on Innovations in Applied Mathematics, Physics, and Astronomy - Volume 1: IAMPA; ISBN 978-989-758-774-0, SciTePress, pages 186-192. DOI: 10.5220/0013821800004708

in Bibtex Style

@conference{iampa25,
author={Zixin Lu},
title={Game Strategies in Luxury Auctions: Balancing Economic Efficiency and Cultural Significance},
booktitle={Proceedings of the 2nd International Conference on Innovations in Applied Mathematics, Physics, and Astronomy - Volume 1: IAMPA},
year={2025},
pages={186-192},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0013821800004708},
isbn={978-989-758-774-0},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 2nd International Conference on Innovations in Applied Mathematics, Physics, and Astronomy - Volume 1: IAMPA
TI - Game Strategies in Luxury Auctions: Balancing Economic Efficiency and Cultural Significance
SN - 978-989-758-774-0
AU - Lu Z.
PY - 2025
SP - 186
EP - 192
DO - 10.5220/0013821800004708
PB - SciTePress