Mr. Edelman plans to step into that void. When a seller consigns a work to auction, Mr. Edelman’s firm, Art Assure, will pledge to buy the piece if it doesn’t sell for an agreed-upon minimum price. In exchange, the seller will pay the firm a fee of about 5% to 10% of the work’s guaranteed price. (via Asher Edelman, the Art World’s Gordon Gekko - WSJ.com)