Three is definitely not a crowd on the auction block: Third-party guarantees are on the rise. For proof, see the horseshoes next to two star lots in the catalogue of the Sotheby’s May contemporary sale. This new symbol indicates that third-party "irrevocable bids" are on file, assuring the consignor big money, whatever the outcome, while spreading the risk beyond the house. (Previous notations didn’t indicate whether Sotheby’s was the sole backer.) May’s horseshoes graced two works from the acclaimed collection of the Greek industrialist and Deste Foundation honcho Dakis Joannou, the cover lot, Martin Kippenberger’s 1988 self-portrait (est. $3.5-4.5 million), and Christopher Wool's 1989 Comedian (est. $1.5-2 million). Insiders guessed that the as-yet-unnamed third parties recruited by Sotheby’s contemporary chief Tobias Meyer included über-collector Peter Brant.

"The Third Man" originally appeared in the June 2009 issue of Art+Auction. For a complete list of articles from this issue available on ARTINFO, see Art+Auction's June 2009 Table of Contents.