All posts in Sotheby’s

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 […]

Christie’s Impressionist and modern art sale in London disappoints

The preview night of Christie’s 31-lot Impressionist and Modern art sale was buzzing with jokes poking fun at Basel and positioning the sale to be the ultimate antidote to the Swiss fairs, the Venice Biennale and the start of a strong “London summer season”. Despite all this, the sale on Tuesday night proved to be […]

Monet’s ‘Meules’ goes for $110 million despite an underwhelming evening at Sotheby’s

At Sotheby’s New York on the evening of May 14th, one of Claude Monet’s iconic haystack paintings set a new record for Impressionists. After more than eight minutes of continuous bidding, the gavel fell and the 1890 painting, titled Meules, sold for a whopping $110.7 million. The winning bid shattered the painting’s pre-sale estimate of […]