SOTHEBYS (BID) Stock News
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BID Latest News, Press Relases and Analysis
Botero, Banksy Win Big in Sotheby’s Debut Saudi Arabia Auction
The historical mud-brick city of Diriyah in Saudi Arabia played host to an unusual crowd on Saturday night: art aficionados, new collectors and first-time paddle holders melding together to take part in Sotheby’s inaugural auction in the kingdom.
Crypto’s $1 Trillion Rally Has Yet to Reprise Pandemic-Era Mania
Controversial crypto mogul Justin Sun beamed as he ate a $6.2 million banana in Hong Kong, a spectacle that ratcheted up the spotlight on digital assets as the industry tries to keep an historic market rally on track.
Sotheby’s Pays $6 Million to Settle NY Sales Tax Evasion Probe
Sotheby’s Inc. agreed to pay $6.25 million to settle a New York state lawsuit that accused it of advising wealthy clients they could avoid sales taxes by falsely claiming they were buying art for resale purposes.
Drahi’s Sotheby’s to Reduce Debt Load Using Sovereign Fund Cash
Sotheby’s is planning to use part of a new investment led by an Abu Dhabi sovereign wealth fund to pay back some of its existing lenders, a lifeline for the firm that has struggled with a heavy debt load and is facing a decline in sales.
Profiting From the Wine Experts
Fine-wine specialists guide collectors in building investment-worthy cellars that are a pleasure to drink, too
MoonSwatch Suitcase Fetches More Than £50,000 at Sotheby’s
A series of limited edition MoonSwatch watches in special branded suitcases raised more than half a million Swiss francs for charity, underscoring collector demand for the Omega-branded timepieces, with one set fetching about 61,000 francs — nearly £55,000.
Rare Patek Philippe Could Top $4.5 Million and Test Watch Market
An extremely rare Patek Philippe perpetual calendar chronograph will be put up for auction by Sotheby’s in June, in a sale that could reach $4.5 million and test the market strength for pricey vintage timepieces.
Sotheby’s Helped More Rich Clients Dodge Sales Tax, NY AG Says
An alleged effort by Sotheby’s to help wealthy art collectors avoid paying sales tax on purchases for their homes was “far more extensive and serious than previously known,” New York’s attorney general said.
Rare Pink Diamond Goes to Auction for More Than $35 Million
An extremely rare diamond called The Eternal Pink is expected to fetch more than $35 million at a Sotheby’s auction, potentially breaking records as the most expensive price per carat ever to come to market.
Sotheby’s Defeats Most of Russian Billionaire’s Fraud Suit
Sotheby’s won dismissal of most claims by a Russian billionaire who accused the auction house of helping to defraud him in the purchase of a world-class art collection featuring works by Pablo Picasso, Auguste Rodin, and Henri Matisse.
In Sotheby’s New Luxury Strategy, Pateks Could Catch Up With Picassos
The auction house has doubled down on extraordinary items beyond art and antiques.
French Billionaire Drahi Weighs IPO of Sotheby’s Auction House
French telecom billionaire Patrick Drahi is weighing an initial public offering of Sotheby’s, a little over two years after he bought the storied auction house, people with knowledge of the matter said.
Museums Sell Picasso and Warhol, Embrace Diversity to Survive
The one-two punch of Covid-19 and the racial-justice movement has upended huge swathes of society -- work, school and health care. Below the radar, it’s also shaking the foundations of another set of U.S. institutions -- museums -- forcing them to sell prized works and broaden the definition of great art.
Ghislaine Maxwell Goes From Luxury Retreat to Turkish-Style Jail
Ghislaine Maxwell spent the last few months at a secluded 156-acre estate called “Tuckedaway,” hidden in the woods of Bradford, New Hampshire, -- the type of luxury retreat she’s grown accustomed to as Jeffrey Epstein’s girlfriend. Now, however, she’s having to deal with accommodations that have been compared to a Turkish prison.
Top Hedge Fund Bought Amazon Stock, Sold Microsoft In Q4
Hedge funds bought Amazon stock and Wright Medical Group in Q4, while they sold out of Microsoft stock and Zimmer Biomet, 13F filings with the SEC show
Private Equity Takes on Friendlier Activists at Their Own Game
Activist investors have worked hard to improve their image over the past few years. The hooligans of corporate America have swapped saber-rattling for soft power and found that there is still money to be made.
Take a look inside of Lachlan Murdoch's new $150 million LA mansion
Media scion Lachlan Murdoch reportedly paid $150 million for an estate in Los Angeles' Bel Air neighborhood, making it the most expensive home ever sold in the city.
The Margin: Someone paying $120,000 for a banana duct-taped to a wall at Art Basel is the perfect picture of wealth inequality
Art sales and auctions have been setting records, which could be another sign of the wealth gap, according to a Citi report
Billionaire’s Light-Touch Approach at Sotheby’s Faces First Test
The morning French billionaire Patrick Drahi took control of Sotheby’s he emailed staff at the 275-year-old auction house with a message of stability.
Mentions: ATUS
Sotheby's names new boss
Sotheby's (NYSE:BID) appoints Charles Stewart as the company's new CEO to take over immediately. Stewart joins Sotheby's from Altice USA, where he has served as Co-President and CFO since 2016. He a
Loeb’s Third Point Sees $1.1 Billion Upside at EssilorLuxottica
Third Point confirmed it holds a stake in Ray-Ban maker EssilorLuxottica SA Thursday and said it was disappointed that Sony Corp. has snubbed its suggestions to break up.
Banksy painting depicting primates in British Parliament fetches $12.2 million at auction
The 2009 Banksy painting, entitled "Devolved Parliament," sold for almost nine times its previous price after a 13-minute bidding war, Sotheby's auction house said.
Sotheby's Announces Closing Of Acquisition By Patrick Drahi
Las Vegas Sands Stock Is Rising Because It’s Joining the S&P 500
Las Vegas Sands stock is climbing on Friday, on news that the casino operator will join the S&P 500, replacing Nektar Therapeutics.
Las Vegas Sands to Replace Nektar in the S&P 500
Shares of the casino-hotel and resort operator gain as S&P Dow Jones announces the company's inclusion in the S&P 500.
Stocks making the biggest moves after hours: LATAM, Micron, Las Vegas Sands and more
See which stocks are posting big moves after the bell on Thursday.
Las Vegas Sands +4.5% amid move to S&P 500
Las Vegas Sands (NYSE:LVS) is up 4.5% alongside news that it's joining the S&P 500 index. The company will replace Nektar Therapeutics (NASDAQ:NKTR) in the 500, and Nektar will move down to the M
Collectible Cars Offer Lots of Opportunity
In a slower market, these models still have value
Mentions: TM
Sotheby's buyout set for October 3
Sotheby's (BID +0.1%) says it landed all the required regulatory approvals required for the acquisition of the company by BidFair USA.The closing date of the merger is expected to be October 3.Source
Sotheby’s Borrowing $1.1 Billion to Finance Buyout by Drahi
Sotheby’s is taking out $1.1 billion of debt to help finance its $2.7 billion acquisition by French billionaire and art collector Patrick Drahi.
Sotheby's shareholders approve buyout
Sotheby's (BID -0.3%) shareholders approved the proposed acquisition of the company by BidFair USA for $57.00 per share.The closing of the merger is expected in Q4. Sotheby's says it's on track for an
Sotheby's Shareholders Approve Proposed Acquisition by Patrick Drahi
Will Copart's (CPRT) Expansion Drive Bolster Q4 Earnings?
High activity levels in the United States and expansion efforts in European markets, primarily in the United Kingdom and Germany, are likely to boost Copart's revenues in fourth-quarter fiscal 2019.
Sotheby's buyout lands EU approval
The European Union clears the acquisition of Sotheby's (NYSE:BID) by BidFair USA. Sotheby's closed at $57.67 yesterday vs. the $57 deal price as some investors seem to be pricing in the chance of a h
New recession warning: The rich aren't spending
From real estate and retail stores to classic cars and art, the weakest segment of the American economy right now is the very top.
Take an exclusive look inside the most expensive home for sale in America
This elegant French chateau-style estate in Bel Air, California, is the most expensive property currently for sale in America.
The $2 Billion Break-Up Fee in Sotheby’s Merger Agreement
Sotheby’s could receive almost $2bn in damages if French media tycoon Patrick Drahi’s walks away from his $3.7 billion takeover bid