News

LONDON: Renaissance period combined scaphe dial and astrolabe made by Arsenius of Louvain, dated 1563.

$45m fine for Sotheby’s but five years to pay: Diana ‘Dede’ Brooks, former president and chief executive of Sotheby’s, has pleaded guilty in a Manhattan Federal Court to price-fixing with Christie’s between 1993 and 1999.

UK: THE Court of Appeal has set a precedent under case law which forces auctioneers to sell to the highest bidder where a reserve has not been set, regardless of how low the winning bid is.

FRANCE: RARELY can so many leading lights in the international art and antiques business have been gathered in the same room as happened at the luxurious George V hotel in Paris on Tuesday, October 3.

Sotheby’s board of directors have approved payment of $256m to clients in the civil lawsuit which claimed collusion with Christie’s in setting charges for buyers in 1992 and sellers in 1995.

UK: TOMMASO Zanzotto, chairman of Stocklight, which owns the Bernard J. Shapero Rare Books recently acquired Bloomsbury Book Auctions, has vowed to keep the two companies totally separate.

FRANCE: A fire on September 10 at a storage warehouse used by the Hôtel Drouot at Le Blanc Mesnil, 10 miles north-east of Paris, destroyed goods consigned to five different commissaires-priseurs by some 800 clients.