Sotheby’s Posts Loss on Lower Sales, Higher Salaries

Southeby’s loses money this quarter, CEO attributes loss to the credit crunch and guarantees From the story: Sotheby’s, the world’s largest publicly traded auctioneer of art and collectibles, disappointed investors with a first-quarter loss and said revenue from auctions declined. The shares fell $2.56, or 9.3 percent, to $24.91, at 4 p.m. in New York … Read more

Tina, Anil Ambani take art to Christie’s

London: Billionaire Indian businessman Anil Ambani’s wife Tina Ambani is seeking to raise over £1,00,000 for her Harmony Art Foundation by selling a dozen art works at Christie’s, which is also exhibiting 32 works from the Ambani family’s private collection. The global auction powerhouse said in a statement that starting from Wednesday, Christie’s London would … Read more