Tag: Auction houses
Phillips New York Evening Auction Rakes in $72.3m with Two New Basquiat Paintings
Phillips achieved sales of $72.3m ($86.2m with fees) during their recent evening sale of Modern and contemporary art in New York. Although falling slightly short of the estimated range, the
DetailNavigating Economic Challenges: African Art Market in Turbulence
A recent report from the London-based art market research firm ArtTactic has revealed that global auction sales for Modern and contemporary African art contracted by 8.4% in 2023. This is
DetailBonhams Executive Alex Fortescue Passes Away at Age 55
Alex Fortescue, the managing partner of the London-based private equity firm Epiris, passed away last week at the age of 55. He was a board member representing Epiris at Bonhams
DetailTop Art Market News: Brooke Lampley Joins Gagosian after Exiting Sotheby’s
Brooke Lampley, a prominent figure in the art world, will be leaving Sotheby’s to join Gagosian as a senior director in New York. During her time at Sotheby’s, Lampley achieved
DetailChristie’s Cyberattack: Hackers Threaten to Release Client Data
The cyberattack on Christie’s website by the hacker group RansomHub has caused concern as they claim to have sensitive information on Christie’s customers worldwide. This data includes names, document numbers,
DetailSotheby’s Announces Employee Layoffs in UK and Expansion of Cuts Worldwide
Sotheby’s is undergoing a restructuring process in its London office, with around 50 employees expected to be laid off. The auction house is also planning layoffs in its New York
DetailClass Action Lawsuit Filed Against Christie’s for Cyberattack Exposing Clients’ Personal Data
The aftermath of the cyberattack on Christie’s continues to escalate, with a class action lawsuit filed against the auction house over its failure to protect the personally identifiable information (PII)
DetailChristie’s Announces Potential Layoffs in Art Market Industry
Christie’s is planning redundancies, as the auction house’s main rival Sotheby’s also prepares for layoffs. According to reports, Christie’s has not begun a collective consultation process, a legal obligation before
DetailFormer Luxury Goods Head Appointed as Global Chief Executive at Bonhams
Chabi Nouri, a Swiss luxury goods and private equity expert, has been appointed as the new global CEO of Bonhams auction house. With a background in luxury goods and retail,
DetailAbu Dhabi Sovereign Wealth Fund to Acquire Stake in Sotheby’s
Abu Dhabi’s sovereign wealth fund, ADQ, has secured a deal with Sotheby’s owner, French-Israeli telecoms tycoon Patrick Drahi, for a minority stake in the auction house. The transaction is set
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