All posts in Sotheby’s

Has Banksy altered ‘Devolved Parliament’?

Banksy’s painting Devolved Parliament, originally titled Question Time, presents a tongue-in-cheek take on the UK’s parliament. The 2009 work not only features a literal de-evolved group of Members of Parliament but it also references the kind of representation the UK has delegated to Wales, Scotland, and Northern Ireland. The painting is now set to head to […]

Porsche’s Type 64 Nazi car failed to sell due to an auction error

It was intended to be the star lot in a classic care sale for RM Sotheby’s in Monterey Beach, California. Hailed as the “first” Porsche, the Type 64 car from 1939 was the only surviving one of three that were ever build. RM Sotheby’s had estimated that it would fetch upwards of $22 million, but […]

Sotheby’s and Christie’s go head to head with simultaneous Banksy auctions

Two unrelated Banksy auctions are scheduled to run simultaneously at Sotheby’s and Christie’s bringing some of the artist’s best-known works to the auction block. As the gavel fell at a Sotheby’s auction in London last October announcing the £1 million sale of Banksy’s Girl with a Balloon, the reclusive artist shocked the art world as […]

Two Sotheby’s shareholders attempt to block its acquisition

Two Sotheby’s investors have filed a lawsuit in New York City in attempt to block BidFair USA’s purchase of the auction house. BidFair, the parent company owned by Patrick Drahi, announced its purchase of the auction house in June for $3.7 billion. Shareholders however, are claiming that the deal was misleading and its disclosures were […]

Missing Lewis Chessmen could fetch £1 million at auction

Missing for nearly 200 years, one of the lost Lewis Chessmen had been living in the drawer of an Edinburgh family for years and could now sell for as much as £1 million at auction next week. The family who brought the chess piece to Sotheby’s to have it appraised months ago inherited the little […]

Leading auction house Sotheby’s takes legal hit amidst Rybolovlev-Bouvier battle

Just days after the announcement that Sotheby’s is set to be sold for $3.7 billion to a company owned by French media tycoon Patrick Drahi, the company suffered a bruising legal setback in Manhattan courts. This Tuesday, June 25th, Judge Jesse Furman, of the District Court for the Southern District of New York (SDNY), denied […]

Who is Patrick Drahi, Sotheby’s new billionaire owner?

Just as the art market began to cool down for the summer, came the surprise announcement that Sotheby’s, the 275-year-old auction house, will be sold for $3.7bn to BidFair USA, owned by the telecommunication and media tycoon Patrick Drahi. The deal valued Sotheby’s shares at $57 per share, or a 61% premium to their closing […]