The Business Times
business-time-50

Sotheby's strikes deals with bidders as art market slows

google-preferred-sourceAdd BT as a preferred source
Published Fri, Jun 10, 2016 · 09:50 PM

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 jitters through the art world, Sotheby's faced the prospect of owning the work if it failed to sell.

Sotheby's

TRENDING NOW

PM Wong committed to donate his full annual increment - which works out to S$1.4 million – to “suitable good causes” for the next five years.

Singapore's benchmark ministerial pay to rise to S$1.8m; ministers won’t get the full increase at once

Vertical solar panels integrated into buildings are cited as one of several examples of green pathways that data centres can adopt.

Singapore’s new data centres must use renewables. Can they overcome the hurdles?

According to Canadian Prime Minister Mark Carney, the Trump administration wants a say in Canada’s trade negotiations with other countries.

Will the US-Canada tariff war irrevocably damage bilateral ties?

Workers in Singapore are finding their roles reshaped by AI, with some tasks increasingly automated and some positions disappearing altogether.

Is AI stealing your job?

Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
View More