price discovery happens at auction.

otherwise yes, it’s the gallery’s job to preserve a level of value for the artist, and they work hard to maintain the house cards.

A huge number of things receive either no bid or don't meet the reserve bid

And yet the price of the piece is still set above the reserve bid for all intents and purposes, and if the piece is part of a collection that one future trade is setting the price of the whole collection - just like with any low float asset like illiquid shares

but I find the artists, dealers, and galleries to be doing the most to prevent price discovery. Doing the most to not be compared to other kinds of markets.