Millionaire Mode

The Economics of Art Auctions

Question 1 of 15

What is the primary function of an art auction?

  1. To facilitate the exchange of artworks between buyers and sellers
  2. To determine the fair market value of artworks
  3. To promote and showcase the work of emerging artists
  4. To raise funds for charitable causes

Prize Money

15₹7 Crores
14₹1 Crore
13₹50,00,000
12₹25,00,000
11₹12,50,000
10₹6,40,000
9₹3,20,000
8₹1,60,000
7₹80,000
6₹40,000
5₹20,000
4₹10,000
3₹5,000
2₹2,000
1₹1,000