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Sotheby's strikes deals with bidders as art market slows

Sat, Jun 11, 2016 - 5:50 AM

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...

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