Sold! Auction House Sotheby’s Sells for $3.7 Billion to Telecom Billionaire

Art auction house Sotheby’s will be taken private by billionaire Patrick Drahi-owned company BidFair USA at a high premium, the company announced Monday. Drahi, a long-time media titan and avid art collector, will take Sotheby’s private after 31 years on the market as a public company at a $3.7 billion price tag. “Sotheby’s is one […]

Brexit Is Turning Auction Houses and Art Collectors Into Currency Traders

With a parade of Monets, Picassos, and Basquiats heading to the auction block in London during the next two weeks, art collectors are keeping a keen eye on the daily drama over Brexit and currencies. Christie’s, Sotheby’s, and Phillips are offering as much as 700 million pounds ($927 million) of Impressionist, modern, postwar, and contemporary […]