Preview

Patrick Drahi

News
Auction houses

Allan Schwartzman leaves Sotheby's following restructuring under new ownership

The co-founder of Art Agency, Partners will transition to a consultant role as Nina del Rio takes the helm of the auction house's advisory services

News
Art market

Sotheby's new owner Patrick Drahi comes to auction house's first sale in post-Brexit Britain

“No fireworks” at last night's Impressionist, Modern and Surrealist art auction that featured three restituted works

News
Art market

Sotheby's replaces Tad Smith with Charles F. Stewart as chief executive

Smith leaves after four and a half years with a $28.2m severance deal, including $16.9m in shares, and will remain as a senior adviser to Stewart

News
Auction houses

Sotheby’s shareholders approve $3.7bn sale to telecoms tycoon Patrick Drahi

With an overwhelming 91% of shareholders in favour, the publicly traded auction house will go private after three decades on the New York Stock Exchange

News
Art market

Fourth Sotheby’s shareholder files lawsuit in bid to block $3.7bn sale to Patrick Drahi

Auction house says such litigation is “routine in the US”, with deal expected to be completed by the end of the year

News
Art market

Brexit contributes to 10% drop in sales at Sotheby’s in first half of 2019

Sale to telecoms magnate Patrick Drahi looks set to go ahead as firm makes up for a loss in revenue through increased commissions and more efficient guarantees

News
Art market

Two shareholders seek to block Sotheby’s purchase by BidFair

Lawsuits argue that information filed to the SEC is inadequate