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Sotheby's strikes deals with bidders as art market slows

Saturday, June 11, 2016 - 05:50

New York

SOTHEBY'S was in a bind. The auction house had won several top consignments for its bellwether spring auction, including a Jean-Michel Basquiat that sold for US$7.4 million four years ago, by guaranteeing the sellers minimum prices.

But as volatile financial markets sent